CirrusMD, a Denver, CO-based chat-first healthcare alternative, on May 2 announced it had raised $15 million in Series B funding led by Drive Capital, Colorado Impact Fund along with other former investors, bringing total financing to date to $26 million.
The $15 million will assist CirrusMD to increase growth and product innovation. The startup will also use the money to encourage current and prospective partners.
“This funding round allows us to capitalize on what we’ve built, grow our team and continue innovating,” CirrusMD co-founder and CEO Andrew Altorfer explained. “We’re also growing our engineering, marketing, sales, and account management teams to innovate faster and better support our customers.”
Launched in 2012 by Blake McKinney, an emergency physician realized the transformative purpose of telemedicine fueled by his very frustrating experiences in the emergency department. CirrusMD partners with health plans to build elevated trust in member populations and deliver exceptional virtual care activities by breaking through the obstacles which exist in the current traditional healthcare landscape.
Accompanying the new financing, The startup has revealed a new agreement with Iron Bow Technologies, which has a contract with the Department of Veterans Affairs. Included in the deal, veterans will be able to communicate with VA healthcare team members through the new VA Health Chat program. The tool will initially be rolled out to more than 200,000 patients over three of the VA’s medical facilities.
So far in 2019, CirrusMD has attained additional vital milestones and expansion. The company has seen a 141% increase in Q1 patient encounters year-over-year and partnered with another significant market payer to expand its Medicaid market to discuss three new pilot programs in three countries. This type of funding will carry the business through its next phase of growth, and drive product innovation to encourage current and future partners.