Eden Health Raises $25 Million to Expand Virtual Healthcare to Employers

Eden Health, a direct-to-employer telehealth platform, raised $25 million in Series B funding.

The company partners with employers to offer telehealth services to their employees. Telehealth consultations are delivered through virtual (through Eden app) or in-person (through on-site, near-site clinics, or popup clinics), according to the company.

According to the company, the platform is used 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.

“What employers are realizing is that they have a responsibility to manage their entire workforce’s physical and emotional health. The optimal management of workforce health meets that individual and their family member where they are, whether it is at their worksite, at home, or in the community. With today’s funding and the advances we have developed, we are set to radically improve care delivery and health outcomes,” said Matt McCambridge, co-founder, and CEO of Eden Health.

Flare Capital Partners led the Series B round with participation from Stone Point Capital, a private equity firm that focuses on the financial services companies. Existing investors who participated in the Series B round include Greycroft, PJC, Max Ventures, and Aspect Ventures.

Eden Health, founded in 2016, has raised $39 to date, including a $10 million Series A round in 2019, which was led by Greycroft. Forbes said the latest round brings Eden Health’s valuation close to $100 million. Eden Health employs over 50 people with a corporate office in New York.

The New York-based company reported a 500% spike in demand during the COVID-19 pandemic. It currently operates in the U.S.

Telehealth companies led the digital health funding activity during 1H 2020, raising almost $1.9 billion in VC funding. More recently, CityBlock Health, a startup that offers primary care, behavioral health, and virtual care services for lower-income communities in the U.S., raised $53.5 million.