Eden Health has bagged $60m in its Series C round to further the growth of its healthcare and insurance services.
The investment brings the InsurTech’s total capital raised to $100m and comes less than a year after it raised $25m in Series B funding.
Growth stage investor Insight Partners served as the lead investor for the Series C. Other capital commitments came from Amigos Health, Aspect Ventures, Company Ventures, Flare Capital, Flexcap Ventures, Max Ventures and PJC.
This fresh equity has been earmarked to deepen the capabilities of its integrated virtual care platform, as well as expand its brick and mortar medical office footprint in the US. Additionally, funds will help Eden Health to release integrations for third-party healthcare services.
Launched in 2017, the company claims it can considerably improve patient experiences, by combining telehealth, in-person primary care, behavioural health, insurance navigation and other medical methods.
A user can use a chat and video interface to reach a 24/7 care team to offer consultation and advise if they need an in-person visit – meeting the same care team if they do need a physical meeting.
Eden Health also aids patients as they navigate insurance benefits, primary care and mental health care.
This capital injection comes after a strong 2020. The InsurTech grew its revenues by 800% year-over-year and expanded to now cover 40,000 sponsored members. Eden Health also claims the pandemic helped to accelerate employer adoption.
Eden Health co-founder and CEO Matt McCambridge said, “Access to quality healthcare is a fundamental human right. The pandemic has put a spotlight on the value of employee wellbeing and has created a greater focus on population health. More than ever, employers understand that excellent healthcare is a business priority and a competitive advantage.
“Our company is at an exciting growth phase where we are focused on scale. The experience and expansive network that Insight Partners offers will help Eden Health continue on its solid path for long-term success.”
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