Healthcare Social Network Voro Secures $2.5M Seed Funding to Expand Operations and Files IPO Prospectus

On September 20, 2019, VCBeat (WeChat ID: vcbeat) learned from foreign media reports that Voro, a healthcare social network, had completed a $2.5 million seed funding round, led by Floodgate Fund.

Voro plans to use the funds from this round of financing to continue expanding its business scope. Currently, the company’s operations are primarily concentrated in New York City, covering primary care, dermatology, dentistry, and gynecology.

Voro is a healthcare-focused social networking platform headquartered in New York. The company’s mission is to deliver better health services to individuals and communities worldwide. Voro helps users identify trustworthy healthcare service providers, enabling them to share physicians’ insights and recommendations with friends and family through the platform. The company has millions of users in New York. Voro advocates for value-based healthcare services, operating on the belief that in an increasingly complex medical landscape, people make logical and rational decisions when choosing doctors based on price and quality. Individuals tend to seek guidance from social networks—even when selecting physicians—because they trust recommendations from those familiar to them.

Hoyos, Co-Founder and CEO of Voro, stated, “Through the Voro platform, we aim to ensure that everyone has access to trustworthy medical services. We envision every community having an open platform where users can share physicians’ advice or openly discuss health issues.” Voro has also launched a paid enterprise edition designed to help company employees locate vetted in-network doctors, most of whom are situated near their workplaces.

Mike Maples, an early investor in companies such as Twitter, Lyft, and Twitch, stated, “Voro is bringing the power of community and network effects to the healthcare sector, with a consumer-first approach. We are excited to see Voro tackle a significant challenge from a unique perspective, aiming to improve healthcare access for everyone.”

Floodgate is a venture capital firm founded in 2006 and headquartered in Palo Alto, California, United States. Established by Mike Maples Jr. and Ann Miura-Ko, the firm was initially named Maples Investments before being renamed Floodgate Fund in March 2010. Floodgate focuses on investing in Silicon Valley technology companies across various industries, including hardware, software, and the internet.

(Compiled by Tian Shuhang)