Doctor on Demand secures $75 million Series D
Doctor on Demand, the virtual care provider, has raised $75 million in a Series D funding round led by General Atlantic. The funds will be used to accelerate growth.
After a positive 2019, Doctor on Demand has benefited from the surge in requests for telehealth services brought on by COVID-19 in the first half of 2020. The company says it has more than doubled its covered lives in the past six months, and has now delivered 3 million virtual appointments. Although COVID-19 has driven rapid uptake of the company’s urgent care and behavioral health services, Doctor on Demand forecasts half of its 2020 future growth from its Virtual Primary Care offering.
“COVID-19 awakened the industry to the benefits of virtual care as a means to reach all patient populations, and at the same time, demonstrated the high quality of care that can be delivered in a virtual-first setting,” said Hill Ferguson, CEO of Doctor On Demand. “Doctor On Demand will remain dedicated to delivering high-quality, compassionate care to our patients, and innovative, cost-effective solutions to our partners as we continue to expand access and launch new capabilities.”
Based in the San Francisco Bay Area, Doctor On Demand was founded by Adam Jackson, Jay McGraw, and Phil McGraw in 2012. It has raised over $200 million in funding. It delivers services through employers, health plans, Medicare Part B, and direct to consumers. While insurance isn’t required, Americans are covered for medical and behavioral health visits, including preventive care, chronic care, urgent care, and behavioral health.