Iora Health, an East Coast equivalent of One Medical of sorts, has raised $28 million in a Series C round that will help the Massachusetts-based company double in size over the next year.
Iora Health, which says it has developed a new primary care model that is more collaborative and technology-focused, currently operates in 11 states and serves 10,000 patients.
Four new investors joined in investing — Foundation Medical Partners, Rice Management Company, GE Ventures and Khosla Venture. Existing investors include .406 Ventures, Fidelity Biosciences and Polaris Partners
Founded in 2011 and headed by co-founder and CEO Rushika Fernandopulle, Iora last raised a $13 million round of funding two years ago from existing investors including Zappos CEO Tony Hsieh.
Iora Health currently manages eleven primary care practices across the U.S. for patient populations, including employers, Medicare Advantage insurance plans, commercial insurance plans, and Taft Hartley Trust funds. Iora sponsors include the Culinary Health Fund, Dartmouth College, the Freelancers Union, Grameen PrimaCare, Humana, King Arthur Flour, Lahey Health, the New England Carpenters Benefits Fund and Turntable Health.
