Doctor on Demand, a US-based virtual healthcare provider backed by corporates Alphabet, Dignify Health and Qualcomm, received $75m on Wednesday in a series D round led by growth equity firm General Atlantic.
Founded in 2012, Doctor on Demand operates a telehealth service through a mobile app and website that gives patients access to general practitioners, psychiatrists, therapists and a care coordination team through video, voice and text messaging.
The offering is available directly to consumers across the United States as well as through employers, health plans and Medicare part B: the part of the US national insurance program that covers outpatient medical care. It is open to both insured and uninsured patients.
The company has raised $235m in total. Investment bank Goldman Sachs’ Investment Partners unit co-led its last round, a $74m series C in 2018, with Princeville Global, part of investment firm Princeville Capital, while mobile chipmaker Qualcomm’s corporate venture capital unit, Qualcomm Ventures, also invested.
The series C round also featured Venrock, Shasta Ventures, Tenaya Capital, Blue Cloud Ventures, Ridgeview Asset Management, Lerer Hippeau, Sherpa Ventures, World Innovation Lab and Richard Branson.
Qualcomm Ventures had previously participated in a $50m series B round for Doctor on Demand in 2015 that was led by Tenaya Capital and also backed by healthcare provider Dignify Health, Shasta Ventures, Branson and Anne Wojcicki, CEO of personal genomics technology provider 23andMe.
The company had secured $21m in a 2014 series A round led by Venrock that included Shasta Ventures and Branson, following a $3m seed round the previous year featuring internet technology group Alphabet’s GV subsidiary, Venrock, Shasta Ventures, Andreessen Horowitz, Lerer Hippeau and various individuals.
