Grand Rounds provides healthcare quality services and clinical navigation, including virtual primary care and integrated telemedicine through its Premier Navigation solution. The company has launched new virtual provider offerings and a 24/7 Urgent Response crisis service to support members and employers during COVID-19. It covers 6 million lives across more than 130 large self-insured employers and grew covered lives by 55% over the past year. Grand Rounds expanded relationships with employers such as The Home Depot, Walmart, Salesforce, and Travelers. The recent $175 million financing will be used to accelerate clinical navigation and virtual primary care and to scale operations across the country. Including this round, Grand Rounds has raised over $270 million to date. Grand Rounds provides employer-sponsored access to specialist physicians by collecting patients' medical data and matching them to in-person or remote experts, often within hours or minutes. The service focuses on complex or rare cases that local providers may not be experienced with and aims to reduce treatment costs for employers by identifying the correct care quickly. The company serves more than 50 client companies, the majority of which are large Fortune 500 firms, and many clients are self-insured. The founders, including CEO Owen Tripp, started the company after family experiences highlighted gaps in access to expert care. The new financing is intended to improve the remote patient experience, maintain the ability to acquire data quickly, and deepen partnerships with hospitals and industry leaders. TechCrunch reported the round valued Grand Rounds at $750 million and notes the company has raised $106 million to date. Grand Rounds provides an Outcomes Management platform that connects patients with medical specialists nationwide. Led by co-founder and CEO Owen Tripp, the platform uses an algorithm that selects specialists based on training, publication history and patient outcomes. Its services include Office Visits, which identifies local specialists for in-person care, and Expert Opinion, in which physicians review patient cases. The company recently released Grand Rounds STAT to enable physician consultations while patients are in the hospital. It plans to use new funding to accelerate adoption, expand R&D to enhance its quality-scoring algorithm, increase sales and marketing, build out infrastructure, and develop additional products and channels. Grand Rounds has raised more than $51m in total equity.

Total raised

$270M

Funding rounds

3

Latest round

Equity

Latest activity

Sep 2020