San Francisco-based Solv Health, which is developing an app that allows people to find and book same-day doctor’s appointments at urgent care clinics, has raised $6.25 million in Series A funding. The investment round was led by Benchmark Capital with participation from Theresia Gouw of Aspect Ventures and Malay Gandhi of Ensemble Labs (Gandhi is also the former CEO of seed fund Rock Health).
Solv – which is now open to the public via mobile web in the Dallas-Fort Worth, Texas area – aims to eliminate long wait times for urgent care by quickly identifying and booking available appointments. Solv also features the ability to check for insurance eligibility through a simple photo upload and scan, and gives price estimates for people who are paying out-of-pocket. The company also provides backend SaaS to improve clinic workflow.
Unlike several other on-demand doctor-booking platforms out there that focus on primary care, Solv set out from the beginning to target urgent care.
“We chose to focus on same day care not only because it is one of the fastest growing and, by definition, most accessible segments of healthcare — with over 150 million visits a year to urgent care clinics alone — but also because this is what consumers want: on-demand, convenient, and affordable healthcare,” Solv CEO and cofounder Heather Fernandez wrote in a Medium post. “Recent research has shown that half of millennials don’t even have a relationship with a primary care physician and that fifty-nine percent would prefer to visit an urgent care or retail clinic versus a primary care physician.”
Of course, as popular as urgent care may be, Fernandez and cofounder/CTO Daniele Farnedi (both of whom were former executives at digital real estate company Trulia) noticed how beleaguered the service was by long wait times and efficient clinical workflows.
"We started Solv because we wanted to make it easy to see a doctor within hours—not days or weeks—for the unexpected health issues that can impact us everyday. When you have a sore throat before work or if your kid sprains an ankle at the Saturday soccer game, it should be easy to get a same-day doctor's appointment somewhere convenient and that takes your insurance,” Fernandez said in a statement. “Solv is delivering this consumer-first healthcare experience by starting with two things that hundreds of millions of people are already using: a smartphone and urgent care."
In the six months since Solv first launched in private beta testing, the company says they are already seeing measurable results. While they didn’t give hard numbers, they reported 80 percent of Solv’s users getting into an exam room within two hours of booking, of which a third happen outside of regular business hours.
The new funding will be used to expand testing to more users around the state, and Benchmark Capital’s General Partner Bill Gurley will join Solv’s board of directors.
"How consumers travel, invest, shop and even how we buy homes has been improved dramatically by technology over the past ten years, but healthcare has been resistant," Gurley said in a statement. "With this shift, innovative healthcare providers are increasingly focused on both the quality of care and convenience for their patients. Solv's marketplace approach, combined with their proven leadership team, is poised to improve how millions of Americans get seen for everyday health issues, same day and on their terms."