LA-Based Telehealth Company SnapMD Raises $7.1 Million To Grow Its Platform

By Noah Long ● September 19, 2018

Founded by Dave Skibinski, SnapMD is a Los Angeles-based enterprise telehealth company that has raised $7.1 million in Series B funding. The investors in this round were undisclosed. But the company said that the participating investors in this round were returning from its original round.

SnapMD has now raised about $16.3 million in total venture capital funding. And SnapMD will be using the funding to advance its telehealth platform and accelerate sales and marketing.

And SnapMD’s Virtual Care Management (VCM) telehealth software platform supports multiple hospital and health system service lines. SnapMD is able to support unique operational requirements and its architecture can be integrated seamlessly with existing and future systems. SnapMD’s platform is HIPAA/HITECH/COPPA compliant.

SnapMD’s VCM is used by a number of healthcare providers. For example, the platform is being used by the University of Mississippi Medical Center National Telehealth Center of Excellence as its virtual care technology partner of choice. The University of San Diego Hahn School of Nursing and Health Science uses SnapMD for its telehealth curriculum. And the VCM is the preferred telehealth provider for the American Academy of Pediatrics.

“Since our inception, SnapMD has been focused on improving patient care. While a significant amount of attention has been paid to single-episodic, low-acuity care, the higher value of virtual care will target the 20% of Americans that consume 80% of the healthcare dollar—namely, the chronically ill and those in active episodes of treatment, such as cancer. With SnapMD’s recognition as the most advanced telemedicine platform in the world, our white-label telehealth solution enables healthcare providers to extend their offerings under their own brand and with their own physicians,” said SnapMD president and CEO Dave Skibinski in a statement. “The new investment allows us to continue to further drive our marketing and business development efforts in support of our rapidly growing provider base across the country.”

Foley & Lardner LLP recently conducted a study that said 76% of healthcare senior executives have or plan to implement telehealth programs. And SnapMD is poised to expand upon its business development to address this demand.