Doctor On Demand Announces $21 Million Series A Financing, Signs Comcast Corporation as Customer, and Expands Access with Desktop App
SAN FRANCISCO, August 6, 2014-- Doctor On Demand, a healthcare service that provides Video Visits with board-certified physicians, today announced it has closed a $21 million round of Series A financing. Led by Venrock and joined by Shasta Ventures and angel investor Sir Richard Branson, the funding will further drive Doctor On Demand’s growth as it continues to expand its team, build its network of physicians, and add new offerings. The company also announced that patients can now conduct video visits with physicians on their desktop computers, as they have been able to do on their smartphones and tablets. As part of this funding round, Bryan Roberts, Partner at Venrock, joined the company’s Board of Directors.
Doctor On Demand also announced today that Comcast Corporation will offer the Doctor On Demand service to all of its U.S. employees. Comcast will integrate Doctor On Demand into the company’s health and wellness offerings and will, for certain plans, fully subsidize employees’ video visits with Doctor On Demand physicians. Using Doctor On Demand, employees will be able to receive high-quality medical care from their homes and offices.
“With the rising expenses and continual changes in the U.S. healthcare system today, we are always looking at new ways to offer our employees the highest quality care at an affordable cost,” said Shawn Leavitt, Senior Vice President of Global Benefits for Comcast and NBCUniversal. “Inconvenient and expensive urgent care visits are common choices for health treatment because employees often don’t know where else to go for everyday care. By using Doctor On Demand’s technology and making it available on computers and smartphones, our employees will have immediate and convenient access to thousands of board-certified U.S. physicians to diagnose and treat issues from the common cold to sports injuries.”
Doctor On Demand is now available in 46 states across the country. Patients simply download the Doctor On Demand app on a smartphone or tablet, or starting today by visiting www.doctorondemand.com on their desktop computer. Patients provide a list of their symptoms and can instantly connect to a board-certified doctor in their state. Doctor On Demand physicians use video visits to diagnose, treat and write prescriptions for patients when clinically appropriate. Each video visit costs just $40; there are no other fees. Patients have the option of paying with their Health Care Spending Account (HSA), Flexible Spending Account (FSA), or major credit card.
“We hear every day from patients, health networks, and companies like Comcast that they want easier, faster, and more cost-effective access to high-quality healthcare,” said Adam Jackson, co-founder and CEO of Doctor On Demand. “More than 85% of emergency room visits involve conditions that can easily be handled through video such as colds, flus, UTIs, and upper respiratory infections. Employers only pay when their employees use our service – we’ve eliminated PE / PM (per-employee, per-month) fees, which had been standard in this industry. This lets employers reduce their costs while dramatically expanding access to top quality care.”
“When it comes to healthcare, good service and convenience can make all the difference. I invested in Doctor On Demand because I believe that mobile technology will improve the system for patients, providers, employers and insurers. It will enable a more efficient utilization of resources, and a reduction in the overall cost of healthcare provision,” said Sir Richard Branson, who participated in the Series A funding round.
The more than 1,400 board-certified physicians on the Doctor On Demand medical staff are overseen by Doctor On Demand Chief Medical Officer, Dr. Pat Basu, M.D., a former Stanford physician and White House fellow. The multidisciplinary team of physicians treats colds, coughs, allergies, infections, sports injuries, pediatric illnesses and more.
About Doctor On Demand
Doctor On Demand is a healthcare service that provides Video Visits with board-certified physicians via smartphones, tablets, and desktop computers. Patients simply download the Doctor On Demand app on a smartphone or tablet or visit www.doctorondemand.com on their desktop computer, provide a list of their symptoms, and are instantly connected to a doctor licensed in their state for a video visit. Doctor On Demand delivers services through employers, health systems, health plans, and direct to consumers. Entrepreneurs Adam Jackson and Jay McGraw founded the company in 2013 to improve fast, easy, and cost-effective access to high quality medical care. Doctor On Demand is based in San Francisco and has raised $24 million from Venrock, Shasta Ventures, Andreessen Horowitz, Google Ventures, Lerer Ventures, angel investor Sir Richard Branson, and Athena Health CEO Jonathan Bush. To learn more, please visit www.doctorondemand.com.
Doctor on Demand
Libbey Baker Baumgarten, 646-733-7984
Venture Capital Database