US-based collaborative healthcare platform developer Quartet raised $40m in series C yesterday from investors including GV, the corporate venturing unit formerly known as Google Ventures.
F-Prime Capital Partners, a subsidiary of financial services group Fidelity, co-led the round with venture capital firm Polaris Partners. VC fund Oak HC/FT and hedge fund sponsor Deerfield Management also participated.
Quartet is working on a data-focused platform that will make use of physicians, mental health providers and insurance companies to identify at-risk patients and provide them with personalised mental and physical care.
Proceeds from the round, which brought the company’s overall funding to $87m, will be used to grow its engineering headcount, expand its network of care providers and enhance its behavioural health, primary care and patient platforms.
Quartet founder and CEO Arun Gupta said: “Making collaboration between primary care physicians and behavioural health specialists work is a must if we are ever going to improve the overall health of our country.
“The bridge between mental and physical health is being built with technology leading the charge. We have experienced tremendous growth coming into 2018, and are excited to have the best of the healthcare and technology worlds supporting us as we scale.”
Carl Byers, executive partner at F-Prime Capital, will join Quartet’s board of directors together with Ken Goulet, a former vice-president of health insurance provider Anthem, and Lanham Napier, the former CEO of cloud hosting services provider Rackspace.
Oak HC/FT, F-Prime (then known as Fidelity Biosciences), Shulman Ventures and Polaris Partners had provided $7min series A funding for Quartet in 2015.
GV, part of internet technology group Alphabet, subsequently led the company’s $40m series B round, which included F-Prime, Oak HC/FT and Polaris Partners, the following year.