U.S. Health Tech Startups Secure Fresh Funding Across On-Demand Care, Digital Platforms, and Implantable Sensors
[Today's Highlights]
○ U.S. massage O2O company Soothe raises $10.6 million in funding
○ Digital health platform PokitDok raises $34 million in Series B funding
○Senseonics Secures $10 Million in Financing for Implantable Sensors
○ Dispatch Health Raises $3.6 Million for In-Home Physician Services
1. U.S. Massage O2O Company Soothe Raises $10.6 Million in Funding
August 13 News: Soothe, a U.S.-based on-demand massage O2O company, announced that it has secured $10.6 million in financing led by Riverside. The funding will primarily be used to recruit core personnel, enhance platform technology, and acquire new users.
Soothe, founded in May 2013, operates in 12 U.S. cities and has a network of 1,600 massage therapists on its platform. Soothe offers users one-hour rapid booking for massage services, including Swedish massage, deep tissue massage, sports massage, and couples massage. Pricing is divided into three tiers: $99 for one hour, $139 for 90 minutes, and $169 for two hours. Massage therapists receive 70% of each order as income.
Soothe has experienced rapid growth, maintaining a monthly revenue growth rate of over 20% since 2015. Merlin Kauffman, Founder and CEO of Soothe, stated that his goal is to make Soothe a household name. The company plans to expand its service coverage to 16 cities across the United States and will enter international markets within the next two years.
2. Digital Health Platform PokitDok Raises $34 Million in Series B Funding
PokitDok, a California-based company, is a provider of healthcare price comparison tools and API (Application Programming Interface) development tools for primary care. According to Dow Jones Risk & Compliance, PokitDok has secured $34 million in Series B financing, bringing the company’s total funding to $37 million. The proceeds will be used to further develop its API tools, as well as to support sales and marketing efforts.
PokitDok was founded by Lisa Maki and Ted Tanner in 2011. The company initially offered mobile applications and online services that enabled users to locate healthcare providers in their area and compare prices.
PokitDok has now expanded its product offerings. One API enables patients to search for providers within PokitDok’s provider directory, including details on their education, credentials, and other professional information. Another API tool for booking services helps consumers schedule appointments with healthcare providers, with these appointments directly integrated into the providers’ schedules.
3. Senseonics Secures $10 Million in Financing for Implantable Sensors
According to the U.S. Securities and Exchange Commission, blood glucose monitoring device manufacturer Senseonics has successfully raised $10 million in financing. Investors include Anthem Capital, Delphi Ventures, Greenspring Associates, Healthcare Ventures, and New Enterprise Associates. The company’s total funding has reached $94 million.
Senseonics is a medical technology company dedicated to the design, development, and commercialization of glucose monitoring systems, enabling patients with diabetes to manage their condition more easily and accurately, thereby extending their lives.
Senseonics’ pill-shaped sensor is fully implanted in the user’s upper arm to continuously monitor blood glucose levels. The device lasts for at least 90 days before requiring replacement. The sensor transmits data to a transmitter worn on the user’s upper arm, which reads the data and sends it to a connected smartphone app. The transmitter can also upload blood glucose history to the user’s computer via USB.
4. Dispatch Health Raises $3.6 Million for At-Home Physician Services
Dispatch Health (formerly North Health Navigation), based in Denver, Colorado, has successfully raised $3.6 million in funding. Investors include EMP Holdings, which was acquired by Teladoc in 2015.
“Our care model has demonstrated that acute care can be safely delivered in patients’ homes or at their preferred location,” said Mark Prather, CEO of Dispatch Health, in a statement. “When consumers have medical needs, there is now a new option: scheduling an in-home visit with no fees, no inconvenience, and no long waits.”
Dispatch’s services are iPad-based. The company uses the DrChrono electronic health record (EHR) system on iPads and is actively seeking medical device partners to develop tools for iPad and iPhone.
Dispatch delivers its services through local governments, 911 first-response systems, healthcare systems, taxpayers, and senior care facilities. When consumers call 911 or use other channels to contact Dispatch, the company evaluates patients using clinical algorithms to determine whether dispatching a medical team can assist them. If so, the medical team will deploy in specialized vehicles equipped with CLIA-certified laboratories, medical devices, medications, intravenous fluids, and Wi-Fi.
The company added that Dispatch has contracted with most payers in Colorado to bill insurance directly for patients. For uninsured patients, a flat fee is charged.