$8 Million in Series A Funding
On November 3, 2016, PlushCare, a telehealth service, is announced an $8 million Series A funding round led by GGV Capital with participation from Lightspeed Venture Partners and Exponent. Telehealth is anything but new, Teladoc, now public, was founded in the early 2000’s to provide remote care over video conference. PlushCare aims to accomplish what others have thus far been unable to do actually get people comfortable enough with the concept to use it. Similar in structure to apps like Airbnb and Uber, PlushCare lets users conference with doctors of their choosing, on-demand, for non-emergency situations. CEO, Ryan McQuaid, explained that 70 percent of all doctors visits and trips to the emergency room are unnecessary.Such a statistic makes the value proposition for PlushCare evident to a health insurance industry plagued by increasing healthcare costs.
PlushCare is a direct-to-consumer online urgent care provider that connects doctors with patients via desktop or mobile devices. Doctors diagnose, treat, prescribe and provide ongoing treatment throughout the course of a medical issue, with instantaneous access to cloud-based HIPAA compliant electronic medical records.
You can find more information on PlushCare’s funding on TechCrunch.com.