One Medical Group, a US-based primary healthcare provider backed by Google owner Alphabet, closed a $65m growth-stage round led by led by financial services firm J.P. Morgan yesterday.
The firm invested through its J.P. Morgan Asset Management subsidiary, on behalf of its PEG Digital Growth Fund and AARP Innovation Fund, the latter of which is a partnership with non-profit advocacy group AARP.
The round was also backed by unnamed new institutional and individual investors.
One Medical offers a range of private healthcare services focused on customer-centred design and the intelligent application of technology. It added 80,000 new users in the past year and expanded its corporate client base to more than 150 businesses.
The funding will support a national expansion by the company, which currently operates in seven US cities, as well as its enterprise services and mobile technology platform. It also intends to expand its digital health services.
The company has now raised more than $180m since it was founded, according to technology news site TechCrunch.
Alphabet led a $30m round for One Medical in 2013 that included venture capital firms Benchmark Capital and DAG Ventures, and its investors also include Redmile Group, Oak Investment Partners and Maverick Capital.
Tom Lee founder and CEO of One Medical Group, said: “One Medical is committed to improving the quality, service and affordability of healthcare.
“By using technology and a patient-centred approach, we are able to care for individuals and populations more thoughtfully, while also lowering total healthcare costs.”