Startups, Telemedicine

Telemedicine company SnapMD rakes in $7.1M to bolster sales and marketing efforts

The California company also plans to innovate its product, help its clients manage their virtual care programs and engage the broader market.

doctor is sending result of medical test to patient on tablet computer

SnapMD, a telehealth organization in Glendale, California, has secured $7.1 million in a Series B round.

Prior institutional and private investors, as well as one new major private investor, participated in the round.

The company plans to use the funding to boost its telemedicine platform and improve its sales and marketing efforts.

“The timing of our funding is critical,” SnapMD president and CEO Dave Skibinski said in a phone interview. “The needs of our customer base are solidifying and becoming more clear.”

As this happens, the California company has numerous responsibilities, he added. It has to continue to innovate its product to meet customers’ needs, help its clients launch and manage their virtual care programs and ensure it has the resources to engage the broader market.

Skibinski also noted that SnapMD has alignment with its investors.

“We are very fortunate with our investors that they have understood our need to develop technology before the market was ready for all of it,” he said.

The company offers a white-label Virtual Care Management platform that was designed to be just like a physical clinic workflow. SnapMD doesn’t offer medical services; it only provides the technology to virtualize an organization’s clinic. Its cloud-based technology can also be integrated to work with a hospital’s current systems. Skibinski said there are about 45 types of medicine practiced on SnapMD’s platform.

Many companies started in the telehealth field by offering virtual urgent care services. But looking ahead, SnapMD hopes to continue focusing on bringing its telemedicine approach to all areas of the healthcare field, not just urgent care.

“We have always felt that the greater value [in telemedicine] will be in managing patients with chronic disorders and those patients going through active treatment,” Skibinski said. That includes assisting patients with mental health conditions as well.

Back in 2016, SnapMD raised $5.3 million from Shea Ventures, TYLT Labs and Whittier Ventures. The money was used for product development and to accelerate business development in direct sales and through channel partners.

Last November, the company revealed a new language functionality. Its platform now includes support for Spanish speakers. While using the tool, patients can simply click on a flag icon and select Spanish as their language of choice.

Photo: BernardaSv, Getty Images

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