Telehealth Company SteadyMD Closes $6 Million

By Annie Baker ● April 5, 2020
  • SteadyMD, a company that is advancing the way people can pair up with a personal online doctor in the U.S., announced it raised $6 million

SteadyMD — a company that is advancing the way people can pair up and build a trusted relationship with a personal online doctor anywhere in the U.S. — announced it raised $6 million in funding. This round of funding was led by Pelion Venture Partners with participation from Next Ventures, First Trust Capital Partners, The Daube Family office, Crosscut Ventures, M25 Group, Wild Ventures, and Hyde Park Venture Partners. And Darren Phelan, M.D. of Next Ventures is joining the SteadyMD Board of Directors.

Founded in 2016 by CEO Guy Friedman and COO Yarone Goren, SteadyMD will be using the investment for growing SteadyMD’s development of its innovative technology platform and online services for continuous care with a doctor through video, text, and phone.

The COVID-19 outbreak is showing the importance of a solid primary care foundation with a doctor who knows their patient’s history and is familiar with their lifestyle and conditions. And SteadyMD offers a personal doctor online to members via video chat, text, or phone.

The board-certified doctors at SteadyMD practice primary care, pediatrics and functional medicine (completely online) to its members and through partners and employers. And in addition to the long term relationship with a doctor, every SteadyMD member has access to a team of medical assistants — who assist with prescriptions, lab orders, medical record management, downstream care, referrals to specialists, (if needed) and cost guidance.

The secure SteadyMD technology platform enables members and doctors to pair up, collaborate, and develop long-term personal relationships completely online. And this includes an intelligent matching engine that evaluates each member and provider across hundreds of attributes to help spark a connection and pair them up successfully, the SteadyMD member app (allowing for easy access and modern collaboration over text, phone, and video chat), the SteadyMD provider app (allowing for handling of hundreds of paired users), and management tools to operate and scale technology-enabled service businesses, provide analytics, etc.

Key Quotes:

“When we start working smarter and using technology in healthcare, you can see the great advantages of telehealth,” states Dr. Phelan. “This next round of investment is a testament that SteadyMD is a leader in system-level change—empowering doctors to do what they do best: to provide human care to people.”

“The Coronavirus has shown the importance of a solid primary care foundation with a doctor who knows their patient’s history and is familiar with their lifestyle and conditions,” states Guy Friedman, CEO and co-founder of SteadyMD. “SteadyMD is on a mission to provide a dedicated relationship between a member and physician for anyone who wants access to care, anywhere in the world.”