Health IT

Teladoc raises $50.2 million as employers warm up to telemedicne

Telemedicine vendor Teladoc has raised $50.2 million in fresh capital, according to a Form D […]

Telemedicine vendor Teladoc has raised $50.2 million in fresh capital, according to a Form D filing with the Securities and Exchange Commission. It’s a move likely to help it expand through additional acquisitions and support sales and marketing channels to attract more employers to add as customers, following a mini buying spree in the past year.

A year ago it acquired Consult-A-Doctor, which works with small- and medium-sized employer health plans. Earlier this year, it purchased Ameridoc. Employers have been making a big push into telehealth. The idea is that by increasing access to physicians for relatively minor conditions through email, phone and video, employees will have less reason to spend time away in a doctor’s office and be more productive.

Teladoc has also been open to collaborating with other health IT companies that work with employer plans such as Castlight Health and more newly established health insurer Oscar.

Last year, the Dallas, Texas-based business raised $15 million. Among its investors are Cardinal Partners, HLM Venture Partners, New Capital Partners, Kleiner Perkins Caufield & Byers, and Trident Partners.

Teladoc was 1250 on Inc.’s list of 5,000 fastest growing companies. It had $20.5 million in revenue in 2013 compared with $4.6 million in 2010, according to Inc.

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