Conversa Health expands Series B to $20M as virtual care demand surges
What's the deal? Conversa Health, a virtual care and triage platform, has expanded its Series B round to $20 million, co-led by Builders VCDealroom has a profile for this one. Try Dealroom → and NorthwellDealroom has a profile for this one. Try Dealroom → Ventures. The round, first announced at $12 million in June, brings the Portland-based company's total funding to $34 million.
Who else is in? The syndicate includes UH VenturesDealroom has a profile for this one. Try Dealroom →, P5 Health VenturesDealroom has a profile for this one. Try Dealroom →, Genesis Merchant CapitalDealroom has a profile for this one. Try Dealroom →, J-VenturesDealroom has a profile for this one. Try Dealroom →, Epic VenturesDealroom has a profile for this one. Try Dealroom →, StartUp HealthDealroom has a profile for this one. Try Dealroom →, and Nassau Street Ventures. Several are venture arms of major health systems, tying the company's investors to its customers.
What does it do? Conversa's Automated Virtual Care and Triage platform lets health systems remotely monitor, analyze, and communicate with patients at scale. It automates routine care, flags at-risk patients, and directs them to higher levels of care — phone calls, telehealth, or in-person visits — when needed.
Why now? The company says its platform grew sixfold over the past year as the COVID-19 pandemic compressed years of virtual care adoption into months. Conversa was among the first digital health firms to build COVID-19 virtual care tools, adopted by Northwell, UCSF HealthDealroom has a profile for this one. Try Dealroom →, and UNC HealthDealroom has a profile for this one. Try Dealroom →.
What's the endgame? Conversa links providers' electronic health records to digital care pathways and a clinical analytics engine to automate care management around the clock.
"Conversa's enterprise platform and library of digital pathways are used by providers to care for patients across their populations, as opposed to one-off point solutions," said Mark Goldstein, Builders VC partner and Conversa board member. "It fills an enormous gap in the market."
Northwell, New York's largest healthcare provider with 23 hospitals and 800 outpatient facilities, has used the platform for thousands of COVID-19 patients. "Conversa has become a critical collaborator in achieving our vision for virtual health," said Michael J. Dowling, president and chief executive officer of Northwell Health.
The signal: With health systems investing in the tools they deploy, the round shows how the pandemic turned virtual care from a nice-to-have into core infrastructure — and how providers are backing the vendors building it.
Read more: drj.com
Image credit: Generated with Gemini
