Lemonaid Health Leverages $ 33 Million Series B for Home Health Care Platform

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Interest in telemedicine continues to rise, and Lemonaid Health has raised an oversubscribed $ 33 million Series B funding round to expand its on-demand platform to access healthcare online.

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The San Francisco-based company was formed in 2013 to develop a direct-to-consumer primary care platform that uses technology to change the way people interact with healthcare, CEO Paul Johnson told Crunchbase News . Users pay for the care themselves, and the visits cost about the same as copayments for insurance, he said.

Olive Tree Ventures led the round, with participation from Artis Ventures, Correlation Ventures, Hikma Ventures and Sierra Ventures. The new round brings total funding to $ 55 million, including an $ 11 million Series A round raised in 2017 according to Crunchbase data.

Ready for expansion

One of the ways that Lemonaid Health differentiates itself from its competitors is to operate its own pharmacy, as well as offering lab testing through a partnership with Quest Diagnostics, one of its early investors. It is also partnering with Scanwell Health to provide home urine test kits.

With the new funding, Lemonaid Health will expand its team of healthcare professionals and increase the number of patient services, including treatment for asthma, hypertension, type 2 diabetes and more mental health services. .

After earning its Series A, the company offered service in 10 states. Today, its reach is national, Johnson said. Telemedicine regulations differ from state to state, so some allow video calls and / or phone calls, while others only allow phone calls and / or secure messaging, did he declare.

“We are now focused on expanding the services,” Johnson said. “We have helped 1 million patients so far, and we want to help 10 million in the next few years. “

What investors are saying

Alejandro Weinstein, general partner at Olive Tree Ventures, said in a written statement that Lemonaid Health alleviates some of the burden on health systems, especially those primarily dealing with COVID-19, by providing an alternative to in-person care.

“By connecting directly with patients in need and transparently providing consultation and treatment services, Paul and his team are taking a cutting-edge approach to addressing the backlog of needs in the healthcare environment. ‘today,’ Weinstein said. “We are thrilled to partner with Lemonaid Health to realize the full potential of technology in rethinking the future of healthcare. “

Next steps for Lemonaid Health

Meanwhile, the company has 75 employees in the team, which includes doctors, nurses, pharmacists, pharmacy technicians, patient support and operations. Johnson plans to grow to more than 250 people by 2022.

“We are focused on providing the best level of service to patients and will expand our chronic disease care offerings,” he said. “We will also strengthen our team and our platform with additional services to meet demand. “

Illustration: Li-Anne Dias

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