US-based on-demand healthcare provider Ready completed a $54m series C round on Wednesday that included GV, an early-stage investment subsidiary of internet and technology conglomerate Alphabet.
Investment firm Deerfield Management, healthcare investment firm Town Hall Ventures and venture capital firms City Light Capital and Frist Cressey Ventures also contributed to the round, which valued the company at more than $350m according to Bloomberg.
Formerly known as Ready Responders, Ready provides on-demand care in a patient’s home. They are visited by trained nurses, paramedics and emergency medical technicians who can connect them to trained physicians through a remote video system.
The round followed signficant growth during 2020, as the Covid-19 pandemic necessitated greater volumes of home visits and remote diagnoses.
GV and Deerfield Management co-led the company’s $48m series B round, investing alongside Frist Cressey Ventures and Town Hall Ventures. The funding was disclosed in March this year but a securities filing indicates it may have closed in November 2019.
The series B round pushed Ready’s overall funding to $53m, including $4.7m in a December 2018 series A. It identified Founders Fund and Revolution Ventures as early backers along with undisclosed angel investors.
Justin Dangel, founder and chief executive of Ready, said: “Ready’s growth echoes the desire in communities across the country to receive quality healthcare from the comfort of their home.
“We are able to deliver this unique healthcare experience thanks to our incredible team of professionals who have set a new standard for in-home care. With this financing, we can expand our service offerings, bring more quality care directly to more patients and keep building a team of talented individuals who share our values and believe in our mission.”
