What You Should Know:
– Digital transportation marketplace startup Roundtrip raises $4M led by Motley Fool ventures, bringing its total funding to $10.5M.
– The company plans to use the funding to geographically scale and specialize its sales, implementation, and account management model, expand its health plan portfolio and technology integration capabilities.
Roundtrip, a Philadelphia, PA-based digital transportation marketplace for better health outcomes, announced the completion of a $4 million capital led by Motley Fool Ventures. The round also included participation from ZOLL® Medical Corporation and UH Ventures, the innovation and commercialization division of University Hospitals health system in Cleveland, and Grays Ferry Capital. Existing investors include Johns Hopkins University and Ben Franklin Technology Partners. The round brings its total amount of financing to $10.5 million.
Digital Transportation Marketplace
Every day, 10,000 patients miss or delay care due to a transportation barrier. Learn more about how we are removing this barrier to care. Founded in 2016 by CEO Mark Switaj, Roundtrip provides healthcare professionals — including care coordinators, social workers, nurses, and other ride requestors — with online and mobile tools that make ordering patient rides simple.
Through their digital transportation marketplace, Roundtrip connects patients with non-emergency medical transportation (NEMT) such as rideshare, medical sedans, wheelchair vans, and stretcher vehicles exactly when and where they need it. Rides can be booked on-demand or scheduled weeks or months in advance.
How It Works
1. Patient Needs a Ride: Using the ride-booking platform, a care coordinator or patient can book as many rides as they need. Rides can be booked on-demand or scheduled weeks or months in advance.
2. Match patients with the right rides: A ride request goes out to our marketplace and a best-in-class transportation provider from our credentialed network can view the ride, offer an ETA, and claim the trip. Once the ride is scheduled, we send reminders via text or voice letting the patient know the ride status.
3. Leaders in healthcare gets insights: Leverage powerful patient data across the entire transportation sequence to understand more about patient transportation and improve health outcomes.
Recent Traction/Milestones
The capital raise will allow Roundtrip to geographically scale and specialize its sales, implementation and account management model, expand its health plan portfolio and technology integration capabilities, and grow the Roundtrip Community. Since its Series A, the company has expanded its client base with health systems like Lifespan Health and the National Institutes of Health, while also adding to its portfolio of Medicare Advantage and other plans, with Community Health Plan of Washington and Contra Costa Health Plan.
“In the midst of an ongoing pandemic, this funding is continued validation of our focus,” said Roundtrip CEO and Founder Mark Switaj. “The future is in disease-state transportation solutions, and our outcomes-based view crosses COVID-19, the opioid crisis, cardiology, radiology, and cancer care, plus behavioral health and more. With missed appointments costing our nation’s healthcare system $150 billion every year, it’s important to understand the riders and how transportation needs differ. Our marketplace model is making a real difference for our customers, their preferred transportation options, and their patients. The strategic investments from ZOLL Medical Corporation, a leader in medical devices and related software solutions that help advance patient care, and University Hospitals, one of the largest health systems in Ohio, is further affirmation of our product and the place it has in driving better health.”
