Recuro Health Raises $15 million in Series A Round Led by ARCH Venture Partners to Fund Next Generation of Digital Health Solutions
At Recuro, we are always looking for ways to expand digital health solutions capabilities. That’s why we raised an oversubscribed seed-round fund in March 2021 and just five months later, announced a new $15 million Series A financing led by ARCH Venture Partners, with follow-on support from existing Seed Round-investors OLSF Ventures, Cortado Ventures, 1843 Capital and Sage Venture Partners. Proceeds will be used to execute the Recuro ongoing acquisition strategy and expanded marketing, as well as to further build upon growth since the Company launch in March 2021.
COVID-19 created three trends in digital health care: patients and providers began using virtual care like never before; consumers wanted more advancements in health technology; and there was a major investment in digital health. In the first half of 2021, global venture capital funding for digital health companies, hit a $15 billion high. Meanwhile, some 76% of employers said they enhanced their telehealth usage and virtual care investments during the pandemic based on new data from the Business Group on Health. In addition, healthcare executives said COVID-19 drove health IT innovations and showed that organizations needed digital health for “business resiliency.”
Despite these advances and investments in digital health, the U.S. healthcare system is still bogged down in many problems that affect care delivery, including burdensome regulations, legislative red tape and different and unconnected backend operations. Innovations can get lost in the $1 trillion spent on healthcare administration each year. But that has changed with Recuro’s arrival.
Recuro Health Launches and Focuses on Population Health, Outcomes Approach
We launched Recuro Health to generate digital health solutions and enhance the traditional healthcare delivery system. While the current system is based on a reactive, disease-focused model, we are advancing integrated care, risk stratification and diagnostics using holistic solutions tailored to your population.
In less than six months, Recuro has grown to a curated suite of digital solutions—from primary care and behavioral health to at-home testing and genetic screening. Fully customizable, these solutions can be tailored to meet the needs of any population, allowing patients to engage with physicians, receive more personalized care, and monitor their own health, no matter their location or circumstance. “Recuro Health, led by the founding Teladoc team that helped create the digital health category over twenty years ago, is disrupting the traditional healthcare delivery system by advancing integrated care, risk stratification and diagnostics. Recuro is an innovative healthcare solution provider, with a business model that is bringing to reality improved outcomes and more efficient care.”
Robert Nelsen, co-founder and managing director of ARCH Venture Partners
With streamlined information exchange between primary care and behavioral health teams as well as testing and screening tools, our virtual health solutions enable the delivery of coordinated, holistic care that results in better outcomes at a lower cost.
Recuro healthcare solutions occur at the intersection of quality, access and affordability, delivering appropriate care at the right time and place. We empower earlier and more efficient interventions, supplement in-person care, and provide a true mosaic of each member’s health and the efficacy of past interventions. “As we stated just five short months ago during the seed funding of Recuro Health, it is a rare moment in a venture capitalist career to fund such an exciting and market-changing opportunity with ostensibly the architects of the digital health industry.”
William D. Paiva, Ph.D., chairman of the board, Recuro Health and founding seed investor through OLSF Ventures
Investors point to the Recuro Health COVID-19 rapid testing solution that has generated wide receptivity among the nation’s employers, including federal and state governments and corporate healthcare decision-makers. The solution was featured at the Association of Chamber of Commerce Executives (ACCE) Innovation Summit this summer sponsored by RADx, an initiative of the U.S. Department of Health and Human Services (HHS).
These strong capabilities and responsiveness to assist with safe return-to-work requirements nationwide demonstrate the power of our solutions to make meaningful changes. We are executing on our vision by integrating high-impact digital health solutions across the full patient journey, from well care to pre-acute and acute care to post-acute care.
