US-based virtual healthcare service provider Vida Health raised $25m in a funding round on Friday backed by Workday Ventures, the corporate venture capital unit of enterprise software producer Workday.
Investment firm Ally Bridge led the round. AME Cloud Ventures, Aspect Ventures, Canvas Ventures, Webb Investment Network and NGP Capital, the VC firm sponsored by communications equipment maker Nokia formerly known as Nokia Growth Partners, also contributed.
Founded in 2014, Vida Health has built a telemedicine platform to help patients manage chronic conditions through a combination of advice and remote monitoring form health coaches, therapists and machine learning.
The funding will enable Vida Health to meet increasing demand for its offering, particularly in the area of mental health. The company has added more than 500,000 users since the beginning of the pandemic to bring its total userbase to more than 1.4 million.
Vida Health completed a $30m series C round in June 2019 with contributions from Workday Ventures, health insurer GuideWell Mutual and telemedicine provider Teladoc as well as unnamed existing investors.
Canvas Ventures previously led an $18m series B round in 2016, with participation from Nokia Growth Partners, Aspect Ventures and Khosla Ventures.
Aspect and Khosla had already backed a $5m series A round in 2014 that also included Signia Venture Partners, Valley Fund and assorted angel investors.
