Carbon Health closes $100M, Buoy Health collects $37.5M and more digital health fundings

Also: U.K. mental health platform Togetherall raises $10 million; Unlearn.AI adds onto April's Series A with investment from Eisai.
By Dave Muoio
02:40 pm
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Following up on its $28 million add-on investment from May, Carbon Health today announced the close of a $100 million Series C funding round led by Dragoneer Investment Group. The tech-enabled primary care provider's raise also included support from Brookfield Technology Partners, DCVC and Builders VC.

Carbon Health's approach of blending in-person visits at a clinic or pop-up site with virtual care through its app. The company said that it's grown from seven to 27 clinics in the past year, and achieved a sixfold increase in patient volume during the same time. Its virtual care offerings have expanded to 16 states, and the company has plans to open up 100 pop-up COVID-19 clinics before the end of winter.

Along with supporting those efforts, the company said that these funds would help scale the business across the country, as well as support its ongoing push into the enterprise and employer market.

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"A striking one in five counties in the [U.S.] is a healthcare desert, and this year the COVID-19 pandemic exposed the profound effects of these disparities and weaknesses in our healthcare system,” Eren Bali, cofounder and CEO of Carbon Health, said in a statement. “Our mission is to solve these problems – and with help from this investment, we can accelerate our plans to deliver accessible preventative and chronic illness care to close the healthcare gap in this country.”


Artificial intelligence triage and care navigation startup Buoy Health has wrapped up a $37.5 million Series C round. Cigna and Humana headed the raise, which also saw participation from Optum Ventures, WR Hambrecht + Co., and Trustbridge Partners. According to Buoy, this brings the company's lifetime capital raise to $66.5 million and its valuation to nearly $200 million.

Buoy said that its platform has been used by more than nine million people, and also by nearly one million Americans, specifically to either check their symptoms or seek an appropriate care provider during the COVID-19 pandemic. With these funds the company will be fleshing out its AI and other tech features, improve its clinical and insurance navigation capabilities, and expand its workforce.

“We remain focused on bringing highest value solutions that connect customers to the right care, at the right place, at the right time,” Tom Richards, global lead of strategy and business development at Cigna, said in a statement. “Buoy’s ‘first-step’ digital actions that triage symptoms and provide next steps for care do just that. Since the start of COVID-19, we’ve been able to support up to 140,000 COVID assessments and look forward to continuing our partnership to help employers manage safe returns to the office.”


Togetherall, a London-based mental health platform founded in 2007 as Big White Wall, has collected $10 million from investor FPE Capital LLP.

The online service provides clinically managed online communities where specific populations can anonymously support their peers' mental health. It also includes a range of resources or interactive courses designed to help users with mild to moderate mental health conditions self-manage their conditions.

With these funds, the company will continue its growth among the U.K. and Canadian schools, businesses and health organizations it serves, and will also be making a push into the U.S.

“Togetherall’s goal is to build a global business giving as many people as possible a safe, online community where they can offer and receive support at times of anxiety and isolation," Henry Jones, CEO of Togetherall, said in a statement. "Partnering with FPE, such an experienced technology investor, is a huge boost to our ambitious plans for the growth of our impact."


Unlearn.AI, a machine learning company providing "digital twins" designed for use in clinical studies, has found a new investor in Eisai. The pharmaceutical's $3 million extension funding adds to a Series A announced in April, which now totals $15 million.

The startup's first product is specifically designed for use in Alzheimer's disease research, and according to the company is already being employed in an ongoing pivotal trial.

“Our oversubscribed Series A funding round is an exciting validation of our unique Digital Twin approach and we are honored to welcome Eisai, Epic Ventures, and Alumni Ventures Group to the Unlearn team as we expand our work in Alzheimer’s Disease and beyond,” Charles K. Fisher, founder and CEO of Unlearn, said in a statement. “Our AD Digital Twins product has demonstrated its capacity to increase trial power and more recently, rescue trials in jeopardy of failure from high dropout rates due to COVID-19, while managing regulatory risk and limiting timeline delays.”

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