Internet and telecommunications group SoftBank’s Vision Fund 2 took part in a $225m series D round for US-based, technology-enhanced healthcare provider Forward Health yesterday.
The round valued the company above $1bn according to Reuters and it also featured venture capital firms Founders Fund and Khosla Ventures in addition to private investors Marc Benioff and The Weeknd.
Forward runs a membership-based healthcare service that utilises technology and data to support care decisions and help patients avoid conditions such as cancer or heart disease.
The funding will support the launch of doctor-led initiatives focusing on heart health, early cancer detection, covid-19, stress, anxiety and weight management, as well as the opening of several new locations in 2021.
Jeff Housenbold, managing partner of SoftBank Investment Advisers, which manages Vision Fund 2, said: “Rather than visiting a doctor when you are sick, Forward proactively works to keep you healthy by utilising advanced technologies such as remote biometrics monitoring and app-based care.
“With the traditional healthcare system under stress and people reticent about visiting crowded facilities, there has never been a greater need or better time to rethink healthcare from the ground up. We look forward to supporting [co-founder and CEO Adrian Aoun] and team in their mission to provide personalised, preventive care.”
Marc Benioff joined fellow angel investors Eric Schmidt, Josh Kopelman, Aaron Levie, Garrett Camp, Joshua Kushner and Joe Lonsdale to invest an undisclosed amount in Forward in 2016.
The company has not revealed details of additional funding prior to the series D round, but its investors also include Expa, Tamar Capital, First Round and VAS Ventures.
