US-based home healthcare service DispatchHealth secured $200m in series D funding yesterday from investors including health insurance provider Humana at a $1.7bn valuation.
Investment firm Tiger Global Management led the round, which included Echo Health Ventures, the partnership between healthcare provider Cambia Health Solutions and investment firm Mosaic Health Solutions, as well as Alta Partners, Oak HC/FT and Questa Capital.
Founded in 2013 as True North Health Navigation, DispatchHealth provides a home care platform that delivers on-demand emergency medical services encompassing treatments for common injuries and complex diseases.
The round increased the total raised by the company to $417m and the proceeds will be used to increase its presence in 100 markets and further promote its Advanced Care programme, an in-home clinical service that functions as an alternative to hospitalisation.
Healthcare services provider Optum’s subsidiary Optum Ventures led a series C round for DispatchHealth sized at nearly $136m in June 2020, investing alongside investors including Echo Health Ventures, Humana, Alta Partners, Oak HC/FT and Questa Capital.
Echo Health Ventures had already led a $33m round in mid-2019 that also featured Alta Partners and Questa Capital, the two having co-led a $30.8m round two years before with participation from hospital operator Acute Care Solutions. It came after $3.6m in seed funding from undisclosed backers in 2015.
Mark Prather, DispatchHealth’s co-founder and CEO, said: “We have created the most complete platform that solves all aspects of delivering healthcare to the home including clinical logistics, care coordination and the delivery of caring medical professionals, all while improving health outcomes and lowering costs.
“We anticipate the care continuum to continue to move into the home and we expect our platform to enable the movement of that $140bn marketplace.”
