Carena builds and operates telemedicine technology that runs virtual doctor appointments, including a Virtual Clinics platform that lets doctors and nurse practitioners diagnose minor illnesses over video. The platform supports video consultations and can triage patients to in-person care when necessary. The company says it now works with over 120 hospitals and its virtual care services are available for 18 million people. Carena recently closed a $6M funding round, bringing total funding to more than $30M. Founded in 2000 and led by CEO Ralph Derrickson since 2006, Carena’s past backers include Cambia Health Solutions, Catholic Health Initiatives, McKessen Ventures and Martin Ventures. The company confirmed the recent funding but declined to provide further details; it faces competition from dozens of telehealth providers nationwide. Carena provides telemedicine Virtual Clinic solutions to hospital systems, offering software, staffing, operations management, and provider education through Carena University. Its system-branded virtual clinics deliver 24/7 on-demand care by phone, tablet, or computer from board-certified clinicians. Today approximately 13 million people in 14 states have access to Carena partner-branded virtual clinics. Typical visits last about 20 minutes and commonly treat conditions such as cold, pink eye, rash, flu, sore throat, and urinary tract infection; 97% of patients reported they would use the service again. Carena reported significant growth and said it was on track to more than double its revenue in 2015. The company is using new funding to accelerate execution of its strategy to expand telemedicine services within health systems. Carena provides a technology-enabled care delivery model offering 24/7 access to care by phone, secure video, and house calls, supported by physicians and advanced registered nurse practitioners. The company has developed proprietary clinical decision-making software and delivery systems designed to minimize variation in care, reduce costs, and ensure quality. Carena serves self-insured organizations, health insurers, and health systems, and its services are intended to complement patients’ primary care providers when those providers are unavailable. The company has operated programs such as Franciscan Anytime in partnership with Franciscan Health System since January 2011, receiving high satisfaction scores from participants. Carena completed a $14 million financing led by Catholic Health Initiatives to support expansion. It plans to use the new funds to enhance delivery-system technology, scale operations into additional states beyond Washington and California, and launch additional product lines over the next couple of years.

Total raised

$33M

Funding rounds

3

Latest round

Equity

Latest activity

Jun 2017