Total amount raised
$150.1 Millions
Latest funding date
1/1/2022
Location
Athelas has successfully raised significant funding through multiple rounds, with the latest being a Series C. The company is backed by prominent investors, including Sequoia Capital and Fifty Years.
Keep reading to delve into the details of Athelas' funding journey and the key investors supporting their innovative healthcare solutions.
What Is Athelas?
Athelas, founded in 2016 by Deepika Bodapati and Tanay Tandon, is headquartered in Mountain View, California. The company specializes in developing technology to monitor chronically ill patients at home, including an FDA-cleared blood diagnostic device and other sensors for managing blood pressure, weight, glucose, and medication adherence.
With a team of 101-250 employees, Athelas combines the expertise of tech innovators and healthcare professionals to redefine patient care through AI-powered solutions. Their offerings include Revenue Cycle Management, Ambient AI for automated medical documentation, and internet-connected smart devices for patient monitoring.
Athelas continues to innovate in the healthcare sector, leveraging advanced technology to improve patient outcomes and streamline healthcare operations.
How Much Funding Has Athelas Raised?
- Pre-Seed Round
- Amount Raised: Not publicly disclosed
- Date: June 2016
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To kickstart the development of their initial technology for remote patient monitoring.
- Seed Round
- Amount Raised: $3.7M
- Date: August 2017
- Lead Investors: Sequoia Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand the team and accelerate product development.
- Series A
- Amount Raised: $15M
- Date: February 2019
- Lead Investors: Georges Harik
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and enhance their technology offerings.
- Series B
- Amount Raised: $72M
- Date: August 2021
- Lead Investors: General Catalyst
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand market reach and improve their remote patient monitoring services.
- Series C
- Amount Raised: $59.4M
- Date: January 2022
- Lead Investors: Tribe Capital
- Valuation at Round: $1.5 billion
- Motivation Behind the Round: To support rapid growth and further develop their sensor and software infrastructure.
Total Amount Raised: $150.1M. Current Valuation: $1.5 billion.
Key Investors
- Sequoia Capital
- Details: Sequoia Capital is a venture capital firm that has been investing in early-stage and growth-stage companies since 1972. They are known for backing some of the most successful tech companies in the world.
- Investment Focus Areas: Technology, healthcare, consumer services, financial services.
- Notable Investments: Apple, Google, Oracle, WhatsApp.
- General Catalyst
- Details: General Catalyst is a venture capital firm that partners with founders from seed through growth stages. They focus on building enduring companies.
- Investment Focus Areas: Healthcare, technology, consumer services.
- Notable Investments: Stripe, Airbnb, Snap, Gusto.
- Tribe Capital
- Details: Tribe Capital is a venture capital firm that uses data science to identify and invest in promising early-stage and growth-stage companies.
- Investment Focus Areas: Technology, software, fintech.
- Notable Investments: Slack, Carta, Front.
- YCombinator
- Details: YCombinator is a startup accelerator that provides seed funding and mentorship to early-stage startups. They have a strong track record of nurturing successful companies.
- Investment Focus Areas: Technology, healthcare, various industries.
- Notable Investments: Dropbox, Airbnb, Stripe, Reddit.
- Greenoaks
- Details: Greenoaks is an investment firm that focuses on long-term investments in technology and consumer companies. They aim to support companies through various stages of growth.
- Investment Focus Areas: Technology, consumer companies.
- Notable Investments: Brex, Robinhood, Coupang.
What's Next for Athelas?
Athelas stands at the forefront of a booming remote patient monitoring market, with opportunities to partner with more healthcare providers and expand its product offerings. Serving over 40,000 patients, the company has seen a tenfold increase in its active patient base, positioning itself as a leader in the industry.
Future fundraising seems promising, given the recent $132 million raised and the company's rapid growth. However, challenges such as regulatory compliance and competition in the digital healthcare space could pose hurdles. As Athelas continues to innovate, maintaining data security and scaling operations will be crucial for sustained success.
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