Recuro Health, a digital virtual care platform, announced a $15 million Series A financing round.
ARCH Venture Partners led the round, with follow-on support from existing investors OLSF Ventures, Cortado Ventures, 1843 Capital, and Sage Venture Partners.
The company plans to use the new funds to execute its ongoing acquisition and expanded marketing strategy and build upon its expanding digital health solutions capabilities.
Recuro offers a cloud-based virtual care platform consisting of a curated suite of digital solutions – from primary care and behavioral health to at-home testing and genetic screening. According to the company, these digital solutions allow patients to engage with physicians, receive more personalized care, and monitor their health.
Michael Gorton, CEO and founder of Recuro Health, said, “This new round of funding demonstrates our market-leading position in the digital health solutions space. The continued confidence of investors in our innovative approach to solving some of the most pressing challenges in healthcare and the strength of our management team will lead us forward in the year ahead. The relationship with ARCH is a significant, exciting part of this round, providing the opportunity to blend our traditional healthcare expertise with technology and life sciences.”
Recently, Recuro Health announced the acquisition of SupDoc, an AI-enabled virtual health solution for care delivery. The financial terms of the acquisition were not disclosed.
Gorton said, “Recuro healthcare solutions occur at the intersection of quality, access, and affordability, delivering appropriate care at the right time and place. We empower earlier and more efficient interventions, supplement in-person care and provide a true mosaic of each member’s health and the efficacy of past interventions.”
Telehealth companies raised a record $5 billion in 1H 2021, a 150% increase year-over-year compared to $2 billion raised in 1H 2020. This was the highest amount received by any digital health category since 2010, according to the recently released Mercom’s 1H 2021 Digital Health Funding and M&A Report.