CirrusMD, a Denver, CO-based telehealth startup has raised $7M in Series A funding led by Colorado Impact Fund. The round also included participation from Bootstrap Incubation, Three Leaf Ventures, Rockies Venture Fund, Service Provider Capital, Sand Hill Angels, and New York Angels. The telehealth startup works with large health systems, integrated delivery networks, and health plans, particularly those focused on value-based care models. CirrusMD plans to utilize the funding to expand its sales and marketing efforts, increased investment in customer support, and continued innovation of its platform and data analytics.
Founded in 2012, CirrusMD has developed a white labeled and integrated virtual front door to care delivery, which allows health systems and health plans to provide patients with instant access to an in-network doctor who can assess their needs and guide them to the most appropriate point of care (ED, urgent care, specialist, PCP, walk-in clinic, imaging center, etc.) via text messaging.
Its asynchronous, text-first workflow is the first-of-its-kind to effectively scale physician resources by 300% to meet the needs of a patient population, with an initial response coming in under one minute. Should the need arise, physicians and patients can share images, video chat, and talk on the phone.
Currently, 1.3 million patients have access to the platform, representing 850 percent growth over last year. CirrusMD is taking advantage of a movement towards more care being delivered outside of the hospital and patients’ growing comfort with virtual care offerings. According to a recent report by Mordor Intelligence, the telemedicine market is expected to reach $67 billion by the year 2021.
Five years ago, we set out to execute on the vision of my co-founder, Dr. Blake McKinney, to provide patients with instant, ongoing access to in-system doctors through secure text messaging. Our approach is proven to significantly lower total cost of care,” said Andrew Altorfer, CEO and co-founder of CirrusMD in a statement. “We are pleased with the support of our investors at this critical inflection point in telemedicine. Health systems and payers are looking for virtual-care solutions that effectively engage patients and integrate provider workflows. CirrusMD is primed for rapid growth due to our ability to deliver value for our partners.”
