Virtual Care Provider Carbon Health Raises $100 Million

Virtual care app Carbon Health secured $100 million in Series C funding.

Dragoneer Investment Group led the round, with participation from existing investors, including Brookfield Technology Partners (BTP), Data Collective (DCVC), and Builders VC.

“Carbon Health has re-engineered what patients can expect from their healthcare provider – employing technology to deliver high-quality, accessible healthcare,” said Eric Jones, partner at Dragoneer Investment Group. “We are excited to partner with Carbon as they expand their footprint, bringing their differentiated approach to primary care to a national scale.”

Through its platform, Carbon Health provides omnichannel care, in which patients receive care from the same providers at a wide variety of access points, including clinics, pop-up sites, video, the mobile app, and even on-site, according to the company. The company also provides value-based care to enterprise partners across various industries, including academia, sports, entertainment, biotechnology, and travel.

The latest investment comes six months after a $28 million Series B1 funding round in May 2020 from existing investor DCVC.

Founded in 2015, Carbon Health has raised over $150 million to date. The company headquartered in San Francisco employs more than 200 people.

“A striking one in five counties in the United States is a healthcare desert, and this year the COVID-19 pandemic exposed the profound effects of these disparities and weaknesses in our healthcare system,” said Eren Bali, co-founder and CEO of Carbon Health. “Our mission is to solve these problems – and with help from this investment, we can accelerate our plans to deliver accessible preventative and chronic illness care to close the healthcare gap in this country.”

According to the latest Marcom digital health funding report, Telemedicine companies raised a whopping $3.3 billion in the first nine months of 2020. In massive funding rounds, Amwell raised $194 million. KRY, a telemedicine company, raised $155 million.

Lyra Health, which offers digital mental health benefits for employers, raised $110 million. Learn More about telehealth funding activity.