Roundtrip, an online marketplace for booking non-emergency medical transportation, announced the completion of a $4 million funding round.
Motley Fool Ventures, an investment firm that invests in early-stage companies, led the financing round with participation from ZOLL Medical Corporation, a medical device manufacturer.
UH Ventures, the innovation and commercialization division of University Hospitals health system, and Grays Ferry Capital also participated in the funding round, with existing investors, including Johns Hopkins University and Ben Franklin Technology Partners.
Roundtrip intends to use the new funds to expand its non-emergency medical transportation services in the United States.
Since its Series A funding round, the company has expanded its client base with health systems like Lifespan Health and the National Institutes of Health, while also adding to its portfolio of Medicare Advantage and other plans, with Community Health Plan of Washington and Contra Costa Health Plan, according to the company.
The company’s platform is created for healthcare professionals – care coordinators, nurses, social workers, and other transport requestors – and offers easy-to-use online and mobile platforms that connect patients with non-emergency medical transportation.
“The future is in disease-state transportation solutions, and our outcomes-based view crosses COVID-19, the opioid crisis, cardiology, radiology, and cancer care, plus behavioral health and more. With missed appointments costing our nation’s healthcare system $150 billion every year, it is important to understand the riders and how transportation needs differ. Our marketplace model makes a real difference for our customers, their preferred transportation options, and their patients,” said Roundtrip CEO and Founder Mark Switaj,” in a press statement.
The company, founded in 2016, has raised over $10.5 million to date, including a $5.14 million Series A funding round in 2019, which was led by Motley Fool Ventures.
Cloud-based healthcare service booking companies raised $326 million in 1H 2020. To learn more about similar companies, please visit: https://mercomcapital.com/digital-health-reports-news/