Amino has successfully raised $46.1 million over three funding rounds, with the latest being a Series C in April 2017. The platform is a healthcare wellness benefit that helps employees and their families access affordable, high-quality medical care.
Keep reading to explore the intricacies of Amino's fundraising journey and the investors backing this innovative platform.
What Is Amino?
Amino, founded by David Vivero, Maudie Hampden Shah, and Sumul Shah, is a healthcare wellness benefit company based in San Francisco. The company aims to eliminate barriers to affordable, high-quality medical care for employees and their families.
Combining data, design, and consumer-first thinking, Amino offers personalized guidance and concierge appointment booking with nearly every doctor in America. The platform helps people make informed decisions about where to get care, driving cost savings and better health outcomes.
With a team of 51-200 employees, Amino continues to innovate in the healthcare navigation space, ensuring members receive the right care at the right time.
How Much Funding Has Amino Raised?
- Series A:
- Amount Raised: $6,400,000
- Date: Mid-2014
- Lead Investors: Accel
- Motivation Behind the Round: To build out its data and supportive analytics, test the product, and survey consumers to shape a go-to-market strategy.
- Series B:
- Amount Raised: $13,000,000
- Date: October 2015
- Lead Investors: Charles River Ventures (CRV)
- Motivation Behind the Round: To continue developing the platform and expand its capabilities.
- Series C:
- Amount Raised: $25,000,000
- Date: April 2017
- Lead Investors: Highland Capital
- Motivation Behind the Round: To expand Amino's services to work with health insurers, integrated delivery networks, employers, and provider groups, and to enhance their data and tools for analyzing healthcare information.
Total Amount Raised: $44,400,000
Current Valuation: $100,000,000 (~estimated)
Key Investors
- Highland Capital
- Details: Highland Capital is a venture capital firm that led Amino's Series C funding round. They focus on investing in companies that bring innovative solutions to market.
- Investment Focus Areas: Healthcare, technology, consumer products
- Notable Investments: Vistaprint, Rent the Runway, Malwarebytes
- Accel
- Details: Accel is a global venture capital firm that invests in early and growth-stage technology companies. They were a lead investor in Amino's Series A round.
- Investment Focus Areas: Technology, consumer internet, enterprise software
- Notable Investments: Facebook, Dropbox, Slack
- Charles River Ventures (CRV)
- Details: CRV is a venture capital firm that focuses on early-stage investments in technology. They participated in Amino's Series B funding round.
- Investment Focus Areas: Software, hardware, digital health
- Notable Investments: Twitter, Yammer, Zendesk
- Aspect Ventures
- Details: Aspect Ventures is a venture capital firm that invests in early-stage technology companies. They participated in Amino's Series C funding round.
- Investment Focus Areas: Technology, cybersecurity, digital health
- Notable Investments: The RealReal, Cato Networks, Exabeam
- Northwestern Mutual Future Ventures
- Details: Northwestern Mutual Future Ventures is the corporate venture arm of Northwestern Mutual. They focus on investing in startups that align with their mission of improving financial security and wellness.
- Investment Focus Areas: Financial technology, healthcare, insurance
- Notable Investments: Betterment, Chime, Heal
What's Next for Amino?
As Amino continues to expand, the opportunities are vast. The platform's ability to provide reliable, data-driven healthcare guidance positions it well to collaborate with health insurers, integrated delivery networks, and employers. With a database covering 910,000 physicians and cost estimates for 100 common procedures, the potential for growth in both consumer and enterprise segments is significant.
Future fundraising efforts could see Amino attracting more investment to enhance its technology and enter new markets. However, challenges such as competition from other platforms and maintaining data accuracy will need to be navigated carefully. The increasing demand for transparency in healthcare costs and quality will likely drive further innovation and expansion for Amino.
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