Eden Health, a direct-to-employer telehealth platform, raised $60 million in Series C funding.
The round was led by growth-stage investor Insight Partners, with participation from Amigos Health, Aspect Ventures, Company Ventures, Flare Capital, Flexcap Ventures, Max Ventures, and PJC.
Eden Health, which raised $100 million to date, plans to use the new funds to expand its brick-and-mortar medical office footprint to new major U.S. metropolitan areas and build new features that allow for integrations of third-party healthcare services.
Eden Health provides digital concierge healthcare services through employers and commercial real estate building owners.
The company offers employees telehealth, same-day in-person primary care, behavioral health services, and benefits navigation solutions. Using the Eden app, patients can have a chat and video consultation with the care team and book an in-person visit with the same care team.
According to the company, its platform is adopted by over 100 employers across a broad range of industries, including finance, retail, real estate, covering more than 33,000 employees. Clients include Bell’s Brewery, Connell, Convene, Harry’s, Kramer Levin, Newscred, and Stack Overflow.
The New York-based company reported an 800% year-over-year growth in 2020 and a 500% spike in demand for telehealth due to the COVID-19 pandemic. “Our company is at an exciting growth phase where we are focused on scale. The experience and expansive network that Insight Partners offers will help Eden Health continue on its solid path for long-term success,” said Matt McCambridge, co-founder, and CEO, Eden Health.
“Access to quality healthcare is a fundamental human right. The pandemic has put a spotlight on the value of employee wellbeing and has created a greater focus on population health. More than ever, employers understand that excellent healthcare is a business priority and a competitive advantage,” added Matt McCambridge.
Telehealth companies secured a record $4.3 billion VC funding during 2020. The funding amount was a 140% increase in 2020, compared to $1.8 billion raised in 2019. Recently, Felix, a direct-to-consumer telehealth company focused on birth control and erectile dysfunction treatments, announced the closing of a $10 million Series A financing round.