On Thursday, Seattle-based 98point6 announced the closing of its $118 million Series E funding round, which was led by L Catterton and Activant.
98point6 has built a network of physicians accessible through its corresponding app, allowing people to message their doctors 24/7 on its text-based platform. This allows patients to check-in with their doctors as soon as a health concern pops up, and get quicker access to prescriptions or lab tests. The app also leverages machine learning and AI to help provide the best care.
98point6 makes these services available through its personal and sponsored annual subscription plans. Patients can use the platform whether they have health insurance or not, meaning people without coverage can get affordable access to healthcare.
The company was founded in 2015, but its services have seen a huge increase in demand this year due to the COVID-19 pandemic. 98point6 says that membership has grown 274 percent since the end of 2019. It’s also partnered with 240 businesses to provide memberships to three million people.
This rapid growth is what led the company to raise this substantial Series E just a few months after its last round of funding. The new capital will be used to continue the company’s expansion, as wells as invest into R&D efforts.
“We’ve created an experience that patients use and love,” CEO and co-founder Robbie Cape said in a statement. “98point6 has experienced accelerated growth over the last year, due in part to the pandemic, as more organizations recognized the existing and undeniable desire for on-demand, digitally enabled care. The increased interest in 98point6 put us in a unique position to serve many in a time of need.”
