Data-driven digital primary care solution company K Health today announced that it had raised $132 million in a Series E financing round, at a company valuation of $1.4 billion, making it one of Israel's only digital healthcare unicorns. The company was founded by Allon Bloch, Israel Roth and Ran Shaul in cooperation with Maccabi Health Services. K Health has raised $229 million to date including a $48 million round last February.
The round was led by GGV Capital and Valor Equity Partners with participation from Kaiser Permanente pension fund and LTS Investments. Valor Equity Partners’ founder and CEO Antonio Gracias, who sits on the boards of SpaceX and Tesla, will join the board along with GGV Capital’s managing partner Hans Tung. Additional investors include 14W, Max Ventures, Pico Partners, Marcy Venture Partners, Primary Venture Partners and BoxGroup.
The company has developed artificial intelligence (AI)-based technology that enables users to obtain an accurate as possible initial medical opinion remotely. The technology is based on diagnoses received by patients with similar characteristics. Once the diagnosis is received, the patient can consult a doctor. K Health employs 180 doctors and a further 150 people developing and maintaining the systems.
When the Covid-19 pandemic broke out many hospitals and clinics swiftly installed K Health's remote systems.
K Health has also announced the launch of K for Parents, a virtual pediatrics service.
K Health cofounder and CEO Allon Bloch said, "K Health is changing the equation of access to high quality medicine. Our system opens access to the best doctors at a fraction of the cost and without the wait. This new funding and expansion to care for the whole family gives more people the break they need today."
Published by Globes, Israel business news - en.globes.co.il - on January 19, 2021
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