K Health, the US-based virtual healthcare provider that counts mass media group Comcast and health insurer Anthem as investors, completed a $132m series E round today.
Venture capital firm GGV Capital and investment firm Valor Equity Partners co-led the round, which included care consortium Kaiser Permanente’s pension fund, LTS Investments and the family offices of the founders of investment firm 3G Capital.
Max Ventures, Pico Partners, Marcy Venture Partners, 14W, Primary Venture Partners and BoxGroup filled out the round. Hans Tung, managing partner at GGV Capital, is taking a board seat at K Health along with Antonio Gracias, founder and CEO of Valor Equity Partners.
K Health has built a mobile app with more than 4 million users that allows them to make video appointments with doctors, access a digital symptom checker and manage their mental health through a customised treatment plan.
The funding will support the recent launch of a paediatric offering called K for Parents. It was raised at a $1.5bn valuation according to TechCrunch, more than double the reported $700m valuation at which the company secured $42m less than two months ago.
Valor Equity Partners led the November series D round, which also featured Marcy Venture Partners, Pico Partners, Max Ventures, 14W and Atreides Management.
The series D reportedly doubled K Health’s valuation from a $48m series C round in February 2020 that was co-led by 14W and Mangrove Capital Partners and backed by Anthem, Comcast unit Comcast Ventures, BoxGroup, Max Ventures, Lerer Hippeau and Primary Venture Partners.
The company had previously secured $25m in a 2018 series B round led by 14W that included Comcast Ventures, BoxGroup, Max Ventures, Lerer Hippeau, Primary Venture Partners and Bessemer Venture Partners (BVP).
Comcast Ventures had already joined BoxGroup, Mangrove Capital Partners, Lerer Hippeau, Primary Venture Partners, Max Ventures and BVP in a $12.5m series A round earlier the same year.
