Sesame has successfully raised $27 million over two funding rounds, positioning itself as a significant player in the healthcare technology sector. The platform offers a marketplace for health services, aiming to make high-quality healthcare more accessible and affordable.
Keep reading to explore the intricacies of Sesame's fundraising journey and the investors backing this innovative platform.
What Is Sesame?
Sesame, founded by David Goldhill, Michael Botta, and John Fontein, is a transformative healthcare platform aiming to simplify and reduce the cost of accessing high-quality healthcare. The company operates out of New York City and Berlin, providing a marketplace for health services that makes it easier for Americans to see a doctor or get an MRI.
With a team of 11-50 employees, Sesame collaborates with doctors who share their vision of offering better care without the stress and high costs associated with the current healthcare system. Their services include telehealth visits, in-person doctor visits, prescription refills, and specialized medical consultations.
Since its inception, Sesame has been dedicated to making healthcare more accessible and affordable, offering same-day appointments starting at $34. The platform's mission is to provide high-quality healthcare that is both affordable and easy to access for everyone.
How Much Funding Has Sesame Raised?
- Series A
- Amount Raised: Undisclosed
- Date: August 2019
- Lead Investors: General Catalyst
- Motivation Behind the Round: To expand its healthcare marketplace and enhance service offerings.
- Series B
- Amount Raised: $27,000,000
- Date: June 2022
- Lead Investors: GV (formerly Google Ventures)
- Motivation Behind the Round: To grow its pay-per-visit healthcare marketplace and transition SesamePlus from beta to general availability.
Total Amount Raised: $27,000,000
Current Valuation: $100,000,000 (~estimated)
Key Investors
- GV (formerly Google Ventures)
- Details: GV is the venture capital arm of Alphabet Inc., focusing on funding innovative startups. They led Sesame's Series B financing round.
- Investment Focus Areas: Life sciences, healthcare, technology.
- Notable Investments: One Medical, Uber, Slack.
- General Catalyst
- Details: General Catalyst is a venture capital firm that partners with founders to build companies that transform industries. They have been an existing backer of Sesame.
- Investment Focus Areas: Technology, healthcare, consumer.
- Notable Investments: Airbnb, Stripe, Snap.
- Virgin Group
- Details: Virgin Group is a British multinational venture capital conglomerate founded by Richard Branson. They participated as a new investor in Sesame's latest funding round.
- Investment Focus Areas: Travel, telecommunications, healthcare.
- Notable Investments: Virgin Galactic, Virgin Hyperloop, Virgin Atlantic.
- TeleSoft Partners
- Details: TeleSoft Partners is a venture capital firm that invests in technology and communications companies. They joined as a new investor in Sesame's Series B round.
- Investment Focus Areas: Technology, communications, software.
- Notable Investments: Not specified.
- FMZ Ventures
- Details: FMZ Ventures is a venture capital firm that participated as a new investor in Sesame's latest funding round. Specific details about the firm are limited.
- Investment Focus Areas: Not specified.
- Notable Investments: Not specified.
What's Next for Sesame?
Sesame stands at the cusp of a significant opportunity, aiming to expand its healthcare marketplace to include more providers and services. With over 2,500 healthcare providers already on board, the platform is well-positioned to serve a large portion of the uninsured and underinsured population in the U.S. The transition of SesamePlus from beta to general availability is expected to further enhance its reach and affordability.
Given its rapid growth, Sesame is likely to attract further investment to scale its operations. The successful rollout of SesamePlus could open new avenues for funding, enabling the company to continue its mission of making healthcare more accessible. However, challenges such as competition from other healthcare platforms and regulatory hurdles may pose obstacles along the way.
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