Participated · Debt Financing · Apr 2023

98point6 previously connected users in real time to its own doctors alongside an AI-powered chatbot, texts, and digital images. The company has relaunched as 98point6 Technologies, a software-only business focused on licensing its virtual care platform to third-party healthcare providers. Leadership has shifted since 2021; CEO Jay Burrell, promoted in February 2022, said the new funding will be used to scale the software business and build data modeling and AI capabilities. In March the company sold its virtual care platform and primary care business to Transcarent for $100 million in cash and equity as part of the transition. The startup has raised nearly $300 million of venture capital over its history, has about 120 employees, and reported a prior period of rapid growth during the pandemic followed by layoffs and an abrupt leadership change in 2021. The company announced its first third-party software deal with MultiCare Health System in September. 98point6 is a Seattle-based on-demand virtual primary care company that delivers digital primary care services. The company applies technology at the point of care to eliminate traditional barriers to access, automate aspects of diagnosis and treatment, and improve clinical adherence to treatment guidelines. Its platform is designed to allow physicians to focus on patient connection while automating critical tasks. For employers, health plans, and health systems, 98point6 aims to increase primary care utilization among people not actively engaged in their health, enabling earlier intervention, improving productivity, reducing overall cost of care, and improving patient outcomes. In March 2022 the company raised over $20 million in funding and said it will use the proceeds to expand operations and broaden its business reach. Backers on the round included existing investors L Catterton (Growth Fund) and Activant Capital. 98point6 pairs AI and machine learning with board-certified physicians to deliver personalized primary care through a private, text-based mobile platform. The service targets employers, health plans and retail partners to increase primary care utilization among under-engaged populations. It now has more than 240 commercial partnerships, covering roughly three million members, with clients such as Banner|Aetna, Boeing, Circle K, Red Bull North America, Sam’s Club and Teamsters funds. Led by CEO and co-founder Robbie Cape, the company offers consultation, diagnosis and treatment across the country. 98point6 intends to use the new funding to further invest in research and development and to expand its medical practice. The platform emphasizes earlier medical intervention and reducing overall cost of care for its partners. 98point6 combines AI and machine learning with board-certified physicians to deliver private, text-based diagnosis and treatment through a mobile app. The service is offered to employers, health plans and retail partners to increase primary care utilization among people not actively engaged in their health, enabling earlier medical intervention and reducing overall cost of care. The company intends to use the new funds to grow its physician team and continue improving its service. Founded in 2015 and based in Seattle, 98point6 currently has 241 employees and more than 200 commercial contracts across all 50 states. The company has raised $129m to date. 98point6 provides on-demand primary care via a mobile app that pairs technology with board-certified physicians to deliver private, text-based diagnosis and treatment. Founded in 2015 by CEO Robbie Cape and based in Seattle, the company serves both employers and direct-to-consumer users. For employer customers it aims to increase primary care utilization among those not actively engaged in their health and has contracted with 27 companies across industries, including Seattle Children’s Hospital, Aegis Living and Zones, Inc. The company is on track to have 100,000 members under contract through employers by the end of the year. Its service is available to adults 18+ via direct-to-consumer options in 40 states and Washington, D.C., reaching 92% of the U.S. adult population, and is slated to be available in all 50 states by early 2019. 98point6 is accessible via the Apple App Store, Google Play and at www.98point6.com. The company plans to use new funding to scale to meet commercial demand, grow its product and physician teams, expand platform capabilities and build channels into new markets including health plans, health systems and higher education.