CirrusMD raises $1M for text-first, video visits telemedicine offering

By Jonah Comstock
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CirrusMD, a telemedicine startup focused on value-based care, has raised a little more than $1 million according to an SEC filing. Investors include Boulder BioMed and Sand Hill Angels. The company previously raised $1.5 million in 2014, according to another filing.

The Denver-based startup offers a telemedicine service to providers and payers that includes video visits, but visits start with asynchronous text messaging.

"Today, we’re focused on providing an asynchronous, text messaging-first platform for organizations offering, or moving towards, a value-based care model," the company writes on its website. "Our platform currently serves over 250,000 people, allowing them to access local physicians anytime of day, from anywhere through their phone or computer."

They court value-based care customers by offering a risk-sharing payment plan, as well as a technology platform that sends data from patient visits and interactions into the patient's electronic health record. CirrusMD doesn't have a bank of physicians on its payroll; instead the company's payer and provider customers hire doctors already working in local clinics and emergency rooms, who are paid an hourly wage rather than per-visit.

CEO Andrew Altorfer told BusinessDen, a Denver publication, that the company is raising funds to expand its development and sales teams. The company currently has 15 employees and is managing six customers, which includes a mix of health insurerance and health system clients.