Lemonaid Health, the US-based operator of an online healthcare platform, has secured $33m in series B funding from investors including Hikma Ventures, the corporate venturing vehicle for pharmaceutical company Hikma.
Venture capital firm Olive Tree Ventures led the round, which also featured Artis Ventures, Correlation Ventures, Sierra Ventures and undisclosed others. It boosted the company’s overall funding to $53m.
Founded in 2014, Lemonaid runs an online service where users can access treatment for conditions like asthma, diabetes hypertension or mental health through telemedicine, and organise deliveries of prescription medication.
The company said it has experienced increased demand for its services during the Covid-19 pandemic and has begun working in partnership with healthcare systems.
Paul Johnson, Lemonaid’s co-founder and chief executive, said: “We founded Lemonaid Health with a vision to increase access to affordable, high-quality healthcare.
“As more consumers have turned to telehealth in the last six months, we have seen significant growth in demand for our online services. With the additional financing, we will be able to help even more patients get the care they deserve and expand our services in partnership with other healthcare providers.”
Hikma Ventures co-led the company’s last round, an $11m series A in 2017, with Novartis Venture Fund, a subsidiary of fellow pharmaceutical firm Novartis. They invested together with Correlation Ventures, 415 Ventures, Vega Ventures and Adaptive Healthcare Fund.
