US-based remote care service Vida Health received $110m yesterday in a series D round featuring enterprise software provider Workday and insurance firms Axa, Centene and GuideWell Mutual.
Growth equity firm General Atlantic led the round, which included Ally Bridge Group, AME Cloud Ventures, Ardea Capital Partners, Aspect Ventures, Canvas Ventures and NGP Capital, while Axa and Workday were represented by Axa Venture Partners and Workday Ventures respectively.
Vida Health’s digital platform uses artificial intelligence to help patients remotely access mental and physical healthcare through digital consultations with therapists and coaches.
The company’s offering includes video meetings, instant messaging and content related to the treatment of chronic illnesses including diabetes and hypertension as well as associated psychological conditions such as depression and anxiety.
Stephanie Tilenius, Vida Health’s founder and chief executive, said: “This new capital accelerates us toward our goal of impacting the lives of 100 million people globally through reversing the symptoms and costs of chronic disease.”
The company had previously secured $25m in an April 2020 round led by Ally Bridge and backed by Workday Ventures, AME Cloud Ventures, Aspect Ventures, Canvas Ventures, NGP Capital and Webb Investment Network.
GuideWell and Workday Ventures had already joined virtual care provider Teladoc to take part in a $30m series C round for Vida Health in mid-2019, investing alongside unnamed returning backers.
Canvas Ventures led the company’s $18m series B round in 2016, with participation from Aspect Ventures, Khosla Ventures and NGP Capital predecessor Nokia Growth Partners, then part of telecommunications equipment manufacturer Nokia.
Aspect Ventures and Khosla Ventures had contributed to Vida Health’s $5m series A round, which also featured Signia Venture Partners, Valley Fund and a host of angel investors, two years before.
