American Well has raised $80 million in a Series C round to support mobile and Web-based applications, according to a company statement. It raised the fresh capital as telemedicine continues to gradually build momentum among health systems and providers.
Although the company declined to specify which companies are taking part in the fundraise, it includes new institutional, private equity, and corporate partners. Strategic investors include some of the larger health plans and academic medical centers in the U.S., after initially just working with payers such as handful of Blue Cross Blue Shield organizations.
In an emailed statement from chairman and CEO Dr. Ido Schoenberg, he said Jefferson Health System is a strategic partner and early adopter of its technology. Looking back on the year, Schoenberg highlighted the company’s accomplishments.
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“We now cover over 23 million lives through our clients (health plans, hospital systems, and employers) and with the launch of our direct to consumer app, Amwell, we passed 1 million downloads within one year and reached the top spot on healthcare apps for the App Store and Google Play.”
Earlier this year at the Center for Connected Health Symposium, American Well CEO and president Roy Schoenberg said patient adoption of virtual visits grew 100 times when it introduced its mobile app in October last year. He pointed out that adding telemedicine to mobile is proving to be a significant way to expand its end-user base. The company added Apple HealthKit integration in September.
Update: This story has been updated based on responses to emailed questions.
