Wheel recently secured $50 million in Series B funding to make it easier than ever to build virtual care services under your own brand.
Imagine being able to pull out your phone and instantly get connected with the best doctor for your care needs. The idea of not only expanding access to care — but expanding access to the best care — is the foundation for our vision at Wheel.
Today, I’m excited to share that we've taken a giant step towards changing the way healthcare works. We’ve raised $50 million in a Series B round led by Lightspeed Ventures. Our existing investors CRV, Silverton Partners, Tusk Venture Partners, and J.P. Morgan also participated in the round.
When we first founded Wheel, we had big ideas and even bigger ambitions about how to revolutionize the way we access healthcare. The pandemic has shown patients are eager to continue seeing the doctor virtually, but it’s an immensely complicated and expensive feat to bring healthcare visits online. That’s why we’re focused on making it as simple as possible for companies to participate in virtual care.
Democratizing innovation to change the way healthcare works
We fundamentally believe the healthcare industry needs more players in the game if we’re going to successfully take on the status quo in healthcare. Yet even the most talented and well-resourced companies have stumbled along the way. Tech is challenging and expensive to build, regulations are complicated and prohibitive, and clinicians are scarce and burned out.
That’s why we’re set on democratizing innovation and removing the barriers that often get in the way of driving change in healthcare. We pour all our resources into building the underlying infrastructure for virtual care, making it as simple as possible for companies to build virtual care services under their own brand. And our focus on clinicians — and what they need to deliver great care — provides our partners with the freedom and flexibility to invest in the patient experience.
What the future holds for Wheel
Here’s how we plan to use our latest investment:
Larger and more diverse clinician networks. We’ll use this funding to expand and diversify our networks, including new specialties, triage, and front-line care navigation later this year. Today we support over 100 treatment areas across primary care and behavioral health.
Improved tech stack. We’ll continue investing in our virtual care platform, making it easier than ever to grow your virtual care services. Today our partners can deliver asynchronous, synchronous, and scheduled synchronous consults — as well as longitudinal care, labs, and diagnostics — and we’re just getting started. We’ll add new features and improvements throughout the year as we build toward truly seamless clinician and patient experiences.
Personalized care. Our platform connects your patients with clinicians across more than a dozen attributes, ensuring they’re matched with the best clinician for their care needs. With this funding, we’ll expand our routing capabilities to constantly keep our clients' services on the forefront of personalized virtual care.
Stronger client support. The Wheel team has more than quadrupled since we raised our Series A and we aren’t done growing yet! We’ll continue to invest in expanding the team to better support our company partners and their patients.
Going further together
Wheel started out as an idea to improve a healthcare system failing its patients. Today, we’ve evolved into a $66 million venture-backed marketplace working with the most innovative and forward-thinking organizations in digital health. Having delivered nearly half a million patient visits across the country so far, we look forward to partnering with more companies and investing in the next generation of healthcare.
Whether you’re looking to build, scale, or expand services, Wheel has everything you need to start delivering care virtually.
Are you a company looking to launch or scale a virtual care program in 2021? Explore how Wheel can help your organization deliver the highest-quality virtual care.