Cambridge, Massachusetts-based healthcare provider Iora Health, which offers digitally-enabled primary care services focused on senior citizens, has closed a $75 million Series D funding round. Led by Singapore-based Temasek, the round also included existing investors .406 Ventures, Flare Capital Partners, F-Prime Capital, GE Ventures, Khosla Ventures, Polaris Partners and Rice Management Company. This brings Iora’s funding to at least $123.5 million.
Iora will use the funding to drive expansion beyond their current 34-primary practices in 11 US markets, as well as to further investment in Chirp, the company’s collaborative care IT platform. Previously, the company raised $28 million.
The company works with self-insured employers and unions to create special private practices for high-risk, high-cost populations, and has been increasingly focused on complex and underserved patients: seniors on Medicare. Each patient has a care team that includes a health coach (the patient’s primary point of contact), a behavioral health specialist, a nurse and a doctor.
Patients and their families can also leverage the Chirp platform for support, which offers open communication between their care teams and the ability for patients to access their own medical records and share notes through the portal, also accessible via mobile devices.
"We are honored to have Temasek join Iora on our journey to transform health care," CEO and Iora Health Cofounder Dr. Rushika Fernandopulle said in a statement. "Temasek's investment in Iora will accelerate our vision of fixing health care delivery which is one of the largest business and social problems, not just in the US, but globally."