Total amount raised
$85 Millions
Latest funding date
Location
Hazel Health has successfully raised significant funding through multiple rounds, with its latest being a Series C round. The company is dedicated to providing high-quality virtual physical and mental health care to K-12 students, ensuring equitable access to essential services.
Keep reading to explore the intricacies of Hazel Health's fundraising journey and the investors backing this impactful platform.
What Is Hazel Health?
Hazel Health, founded in July 2015 by Nick Woods and Rob Darzynkiewicz, is a healthcare company headquartered in San Francisco, California. The company operates in the education and healthcare industries, focusing on providing telehealth services to K-12 students.
With an employee count ranging from 101 to 250, Hazel Health partners with schools and families to offer virtual physical and mental health care. Their services aim to improve student attendance and academic performance by ensuring equitable access to essential healthcare services.
How Much Funding Has Hazel Health Raised?
- Series C
- Amount Raised: $33.5M
- Date: September 2020
- Lead Investors: Bain Capital Ventures, Owl Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand telehealth services and enhance operational capabilities.
- Series C
- Amount Raised: Not publicly disclosed
- Date: July 2021
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support ongoing growth and service expansion.
- Series C
- Amount Raised: $51.5M
- Date: October 2022
- Lead Investors: Memorial Hermann Hospital, HLM Venture Partners
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale school-based telehealth services and expand reach.
Total Amount Raised: $85M
Current Valuation: Not publicly disclosed
Key Investors
- Memorial Hermann
- Details: Memorial Hermann is a health system based in Houston, Texas, providing a wide range of healthcare services. It is one of the largest not-for-profit health systems in Southeast Texas.
- Investment Focus Areas: Healthcare services, health systems, medical research
- Notable Investments: Investments in healthcare infrastructure and services
- Owl Ventures
- Details: Owl Ventures is a venture capital firm focused on education technology. It invests in companies that are transforming the education landscape.
- Investment Focus Areas: Education technology, digital learning, workforce development
- Notable Investments: Byju's, Quizlet, MasterClass
- Tao Capital Partners
- Details: Tao Capital Partners is a venture capital firm that invests in innovative companies across various sectors. It is known for its strategic investments in high-growth companies.
- Investment Focus Areas: Healthcare, technology, sustainability
- Notable Investments: Tesla, SpaceX, Uber
- Firework Ventures
- Details: Firework Ventures is a venture capital firm that invests in companies aiming to improve the future of work. It focuses on innovative solutions that enhance workforce development.
- Investment Focus Areas: Future of work, workforce development, technology
- Notable Investments: Guild Education, Handshake
- Bain Capital Ventures
- Details: Bain Capital Ventures is a venture capital firm that invests in early to growth-stage companies. It is part of Bain Capital, a global private investment firm.
- Investment Focus Areas: Technology, healthcare, financial services
- Notable Investments: LinkedIn, DocuSign, SurveyMonkey
What's Next for Hazel Health?
Hazel Health stands at the cusp of significant growth opportunities, with plans to expand its telehealth services to more schools and states. The company is already reaching nearly 2.5 million students across 3,000 schools, and the potential for further expansion is vast. This growth is supported by strong partnerships with school districts and health systems, ensuring that more students have access to essential healthcare services.
Future fundraising efforts are likely to be robust, as Hazel Health continues to attract investment from healthcare-focused venture capital firms and strategic partners. The company’s mission to provide equitable healthcare access aligns well with current industry trends, making it an attractive prospect for investors. However, challenges such as maintaining service quality during rapid expansion and navigating varying state regulations will need to be addressed to sustain this growth trajectory.
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