Oak Street Health Acquires Telehealth Company RubiconMD for $130 Million

Spora Health, a telemedicine startup offering primary care services for people of color, announces a $3 million Seed funding round led by M13, Refactor Capital, and MaC Venture Capital.

Existing investors, including Human Ventures, Headwater Ventures, Techstars, and Alicia Jackson, CEO of Ever Now, also participated.

The latest seed round builds upon a successful $1.1 million Seed round earlier this year, bringing the total seed funding to $4.1 million to date.

According to the company, the new funds will help accelerate its investment in hiring, product development, and marketing initiatives to expand its footprint in the U.S. further. The company currently serves populations in Pennsylvania, Virginia, Florida, and Tennessee.

Spora Health is a primary care network that offers a virtual care solution designed specifically for people of color. The company provides membership-based telemedicine services for common health ailments, including allergies, cold and flu, infections, digestive system, musculoskeletal, reproductive system, and skin conditions such as wounds, burns, rashes, acne, and eczema.

“Culturally competent clinicians, if properly trained, can save and extend BIPOC health spans,” said Zal Bilimoria, Refactor Capital, founding partner. “Spora Health is leading the way.”

Spora Health patients also get access to its care delivery platform and care team that consists of doctors, nurse practitioners, nutritionists, and more. According to the company, its machine learning technology can predict patients’ risk profiles and look for chronic conditions like pre-diabetes, hypertension, emphysema, and more.

“The way healthcare is being delivered to Black patients and people of color is going through an important and necessary change. Both providers and patients need culture-centered care models to support this change,” said Dan Miller, founder, and chief executive officer of Spora Health. “We are building a comprehensive solution to ensure this patient population is receiving proper care once and for all.”

Telehealth companies raised a record $5 billion in 1H 2021, a 150% increase year-over-year compared to $2 billion raised in 1H 2020. SonderMind, a mental health platform that connects patients with a licensed therapist for video telehealth or in-person sessions, announced the completion of a $150 million Series C financing.

Image Credit: QLER Telehealth