TimeDoc Health Secures $2.5M Seed Funding to Expand Chronic Care Management Platform and Enter Behavioral Health & Remote Monitoring

VCBeat (WeChat ID: vcbeat) recently learned from foreign media that TimeDoc Health, headquartered in Chicago, Illinois, USA, has raised $2.5 million in seed funding. The round was led by Grand Ventures, with participation from Serra Ventures and Break Trail Ventures.

TimeDoc Health, founded in 2015 and currently led by CEO Will Boeglin, primarily provides cloud-based digital care management solutions for healthcare institutions. Its solutions integrate a care management platform with digital care services to deliver monthly service, monitoring, and coordination for patients with chronic conditions. The company intends to use this funding to expand its platform into the fields of behavioral health and remote patient monitoring, and to scale up over the next 12 months, doubling its employee count.

TimeDoc Health currently serves healthcare organizations across more than 30 states, including Federally Qualified Health Centers (FQHCs), Rural Health Clinics (RHCs), multi-specialty clinics, primary care practices, community hospitals, and Independent Physician Associations (IPAs), with a client base exceeding 70 healthcare entities. These clients participate in various care management programs, such as the Medicare Chronic Care Management program (Medicare/G0511), Principal Care Management add-on services, Patient-Centered Medical Homes (PCMH), and statewide Opioid Use Disorder (OUD) initiatives. Adopting value-based reimbursement models, these clients generate revenue by delivering enhanced care to patients with complex conditions, with fees settled on a monthly basis.

Grand Venture is a U.S. venture capital fund that primarily focuses on Series A and Series B investments in early-stage software companies, with a distinct emphasis on the U.S. Midwest. Its investment portfolio mainly covers advanced manufacturing, agriculture and food, transportation, mobility, and other sectors in the Midwestern United States.

Serra Ventures is a U.S. venture capital fund dedicated to establishing selected regions, such as the U.S. Midwest, as technology hubs by founding early-stage technology companies. Its investments primarily focus on IT, infrastructure, and agriculture.