Virtual healthcare platform eVisit has announced the close of a Series B funding round, led by the Growth Equity business within Goldman Sachs Asset Management (Goldman Sachs). Other participants include Texas Health Resources, Tom Burton and Steve Barlow (Co-founders of Health Catalyst) and more.
“We’re thrilled to partner with Goldman Sachs and other highly strategic capital partners as we execute on our next phase of growth,” said Bret Larsen, eVisit’s Co-founder and CEO.
The Mesa-based MedTech company will use the new capital to continue growing, building out its platform and scaling up its sales and marketing efforts.
The HIPAA-compliant eVisit platform is designed specifically for large healthcare providers, and the company has seen a surge of demand from major enterprise organizations for its virtual care capabilities. Key customers include Banner Health, Texas Health Resources Group and Concentra. Currently, the platform facilitates millions of virtual visits annually.
The company said it isn’t able to share its current valuation, but since being founded in 2015, eVisit has raised $75 million to date. The company has grown in both its operations and staff in order to meet increasing demand for virtual healthcare, and has plans to continue on that trajectory. In fact, the company is hiring now.
Earlier this year, eVisit was named by Forrester Research as the “solo leader” in virtual care platforms.
According to Forrester, “eVisit nails the platform side with its robust clinical interoperability, differentiated UI and strong support for billing and reimbursement processes.”
At the time, eVisit Co-founder and CTO Miles Romney told AZ Tech Beat that the honor is further evidence that the company is on its way to becoming the U.S. market leader in healthcare.
The company’s ultimate goal, however, is “to simplify healthcare delivery to everyone, everywhere.”
As healthcare transitions to a more hybrid model, both Larsen and Romney see eVisit delivering a platform that maximizes the quality of virtual care. As part of this strategy, Romney sees the solution as a system that gathers health information and delivers a personalized cocktail of what the person needs for healthcare management and treatment. He envisions this strategy will be fully realized by 2050.
Goldman Sachs leaders also see the potential of the eVisit platform.
“Healthcare providers today are under immense pressure to modernize their practices, while also delivering high-quality care at lower costs,” said Chase Williams, a Vice President within Goldman Sachs Asset Management, who will join eVisit’s Board as part of the financing.
“Against that backdrop, we expect Virtual Care to play a more fundamental role in facilitating greater access to quality healthcare…we believe the Company is extremely well positioned to capture share, and we are excited to partner with them at this important stage in their lifecycle.”