What You Should Know:
– On-demand text-based primary care platform 98point6
raises $118M in Series E funding to further invest in research and development
and expand its robust medical practice.
– 98point6 offers patients easy access to primary care in the same way they’ve grown accustomed to receiving the majority of services today—on their schedule and via a mobile app.
98point6, an on-demand digital primary care service that delivers personalized consultation, diagnosis, and treatment to patients across the country, today announced a $118 million Series E fundraising round to further invest in its success. Funding was led by L Catterton and Activant Capital, with additional investment from new and returning investors, including Goldman Sachs.
Get-Text-Based Primary Care Anywhere
Primary care is a necessity for all, serving as the front
line for healthcare and disease prevention. However, seeing a doctor is
increasingly difficult with an average wait time of 24 days just for an
appointment. 98point6 offers patients easy access to primary care in the same
way they’ve grown accustomed to receiving the majority of services today—on
their schedule and via a mobile app. Pairing artificial
intelligence (AI) and machine learning with the expertise of
board-certified physicians, its patient-focused and technology-augmented
solution makes primary care more accessible and affordable, leading to better
health and total cost-of-care savings.
Rather than having doctors ask administrative questions, gather patient history, or chart information, 98point6’s AI technology does it for them. Patient profiles are automatically built and the 98point6 system learns from each visit, avoiding redundancy.
Recent Traction/Milestones
In just the past year, the company has grown 274 percent and serves more than three million members through more than 240 commercial partnerships with brands like Premera, Banner|Aetna, Boeing, Circle K, Sam’s Club, and others. The platform continues to see usage across age groups: pediatrics ages 1–17 (7%), 18–35 (47%), 36–50 (28%) and 50+ (18%), and 90% of patients surveyed say they would use the service again.
On average, 98point6’s commercial partners report 8x higher utilization than traditional telemedicine solutions as more people are choosing the convenience of on-demand care over higher-cost options like urgent care or the emergency room—or delaying care altogether. The round allows 98point6 to further invest in research and development and expand its robust medical practice. Last month the company announced a national rollout of its platform available to every Sam’s Club member.
“We’ve created an experience that patients use and love,” said Robbie Cape, chief executive officer and co-founder of 98point6. “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. Our approach to care replaces the high cost and complexities of navigating the healthcare system while meeting the expectations and preferences of today’s healthcare consumer. This investment is a testament to the strength of our platform, and I am confident we will benefit from the deep expertise of both the L Catterton and Activant teams.”
