Telemedicine Startup Nice Healthcare Raises $5 Million

Nice Healthcare, a telemedicine and primary care services provider, raised $5 million in seed funding. Waterline Ventures led the round with participation from Conductive Ventures and

Offered through employers, Nice Healthcare service uses a patient mobile app to schedule primary care virtual visits. According to the company, these services can be conducted over video or through text chat, and providers can prescribe for the patient if necessary.

Nice Healthcare hires nurse practitioners to provide in-home and telehealth visits for a flat rate of $30 to $36 per member per month. The practitioners can also conduct some lab tests and x-rays in patients’ homes.

“All the other startups go to the big cities after the big clients with the big names,” CEO and Co-Founder Thompson Aderinkomi said in a phone interview with Medcity News. “Small businesses, who are hit the hardest in any recession, are bearing the largest healthcare costs disproportionately. I wanted to build a company that’s going to serve them.”

The startup plans to further expand its reach with new funds. It currently operates in Minnesota, Idaho, Iowa, Utah, Arizona, Nevada, Washington, Oregon, Wisconsin, Colorado, and Nebraska. Early next year, it plans to open in 10 new markets, for a total of 20 markets across ten states, the company said. Founder Bryce Roberts and Waterline Ventures Founder Robbie Greenglass will join Nice Healthcare’s board of directors.

“Nice Healthcare puts patients first in what we believe is the next generation of how primary care will be delivered,” Greenglass said in a news release. “We were blown away by the passion and expertise that Thompson and the founding team at Nice bring to the table.”

Telemedicine companies in the first nine months of 2020 raised $3.3 billion in funding. Recently, eVisit, a telehealth platform enabling virtual care for hospitals and health systems, announced the completion of its $14 million Series A round led by TVC Capital, with participation from current investors Kickstart Seed Fund, University Growth Fund, and Jeremy Andrus.

Image Credit: Nice Healthcare