- K Health — a data-driven digital primary care solution — announced it has raised $132 million in Series E funding. These are the details.
K Health — a data-driven digital primary care solution — announced it has raised $132 million in Series E funding. And the company also announced the launch of K for Parents, a virtual pediatrics service.
This round of funding was led by GGV Capital and Valor Equity Partners with participation from Kaiser Permanente pension fund and LTS Investments, the investment offices of Lemann, Telles, and Sicupira (behind 3G Capital). Additional investors include 14W, Max Ventures, Pico Partners, Marcy Venture Partners, Primary Venture Partners, and BoxGroup.
Valor Equity Partners’ founder and CEO Antonio Gracias — who sits on the boards of SpaceX and Tesla — will join the board along with GGV Capital’s Managing Partner Hans Tung (who is also an investor in Peloton, Wish, and Affirm). Vivek Pattipati, Partner at Valor, will join as an observer.
K for Parents offers ongoing pediatric insights and care for children ages 3-17. It works as a free symptom checker and it connects families to answers 24/7, sharing how doctors treated children with similar conditions. And it is built by artificial intelligence based on millions of users and thousands of pediatricians. And K for Parents brings leading pediatricians Dr. David Shafran from the Cleveland Clinic and Dr. Chelsea Johnson from Children’s Mercy Hospital to lead the program.
As part of its mission toward building a global system for better medicine and access to treatment, K Health also announced a collaboration with Mayo Clinic through the Mayo Clinic Platform in November 2020. And the joint work focuses on improving and accelerating the deployment of virtual care models to improve health outcomes. Plus the company also has a partnership with Maccabi Healthcare Services (Israel’s second-largest HMO with 2.4 million members) as well as Anthem to offer K Health to its 43 million members.
“K Health is changing the equation of access to high-quality medicine. Our system opens access to the best doctors at a fraction of the cost and without the wait. This new funding and expansion to care for the whole family gives more people the break they need today.”
— Allon Bloch, CEO & co-founder of K Health
“The world needs a new archetype for health care, and K Health’s data, world-class doctors, and team are resolute enough to deliver this. GGV backs companies with potential to serve the greatest number of people, and by solving the healthcare inequities of access and affordability, K Health is one of the most impactful consumer health companies constructing the future of care for us all.”
— Hans Tung, Managing Partner at GGV Capital
“It’s impressive to see the pace at which K Health is expanding to translate decades of rich data and doctor experience to meet families where they are. We believe that K Health will be game changing for families while also improving the broader health care system to enable faster, more efficient, and more seamless resolution of primary care concerns.”
— Valor Equity Partners’ founder and CEO Antonio Gracias