MedArrive, a telemedicine and online medical support services provider, raised $4.5 million in a seed round, co-led by Kleiner Perkins and Define Ventures.
As part of the investment, Annie Case, Principal at Kleiner Perkins, and Lynne Chou O’Keefe, Founder and Managing Partner at Define Ventures, will join the MedArrive Board of Directors.
According to the MedArrive, the platform enables healthcare providers and payors to extend services (including chronic condition management, transitional care, readmission prevention, urgent care, and palliative care) into the home, scaling access to quality healthcare while reducing costs for providers and their patients.
The platform also allows providers and payors to bridge the virtual care gap by integrating physician-led telemedicine with care from a network of emergency medical supply professionals, the company said.
According to the company, the seed funds will help further build its telemedicine platform, grow its team, and drive the expansion of key healthcare provider partnerships across the country. With an initial focus on the Florida market, the team expects to expand quickly and effectively over the coming months.
“Telehealth has enabled patients across the country to access important care from the safety of their homes throughout the pandemic. But many care needs require in-person visits and diagnostics, and often benefit from deeper insight into a patient’s experience at home,” said Pat Songer, COO of Cascade Medical Hospital, Executive Director of the National EMS Management Association, and Advisor to MedArrive.
“EMTs and paramedics are highly-trained medical professionals and trusted members of their communities. What MedArrive is doing is enabling this workforce to utilize the full scope of their training and provide care in the home that cannot be done as effectively in a clinic setting, such as medication reconciliation, discharge instruction adherence, fall risk assessment, and collection of key SDoH and environmental data. This translates to better care experiences for patients and lowers costs.”
According to the latest Mercom digital health funding report, Telemedicine companies raised a whopping $3.3 billion in the first nine months of 2020. Recently, Virtual care app Carbon Health secured $100 million in Series C funding.