Total amount raised
$19.2 Millions
Latest funding date
Location
Summer Health has successfully raised $11.65 million in its latest Series A funding round, attracting investments from notable firms such as Lux Capital and Sequoia Capital. The platform offers 24/7 pediatric care via text, providing immediate responses to urgent health issues and everyday questions about children's development.
Keep reading to explore the intricacies of Summer Health's fundraising journey and the investors backing this innovative telehealth service.
What Is Summer Health?
Summer Health, founded in 2022 by Ellen DaSilva and Matthew Woo, is a pediatric telehealth startup based in New York, New York. The company operates in the healthcare industry, specifically focusing on home health care.
With a team of 11-50 employees, Summer Health offers 24/7 pediatric care via text, providing parents with immediate access to healthcare professionals for urgent issues and everyday questions about their children's health and development. The service includes expert answers, reliable advice, and personalized milestone tracking, ensuring comprehensive support for families.
How Much Funding Has Summer Health Raised?
- Seed Round
- Amount Raised: $7.5M
- Date: July 2022
- Lead Investors: Lux Capital, Sequoia Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To launch their flagship product offering 24/7 pediatric support via text and to expand their service offerings.
- Series A
- Amount Raised: $11.65M
- Date: April 2024
- Lead Investors: 7wire Ventures, Lux Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance distribution through consumer and employer channels and to expand service offerings for parents.
Summer Health has raised a total of $19.15M in funding. The current valuation is Not publicly disclosed.
Key Investors
- 7wire Ventures
- Details: 7wire Ventures is a venture capital firm that focuses on investing in digital health and healthcare technology companies. Alyssa Jaffee from 7wire Ventures will join the Summer Health board.
- Investment Focus Areas: Digital health, healthcare technology, consumer health.
- Notable Investments: Not specifically mentioned.
- Lux Capital
- Details: Lux Capital is a venture capital firm that invests in emerging science and technology ventures. Deena Shakir from Lux Capital will join the Summer Health board.
- Investment Focus Areas: Science, technology, healthcare.
- Notable Investments: Not specifically mentioned.
- Sequoia Capital
- Details: Sequoia Capital is a venture capital firm known for its investments in a wide range of sectors including technology and healthcare. Alfred Lin from Sequoia Capital will join the Summer Health board.
- Investment Focus Areas: Technology, healthcare, consumer services.
- Notable Investments: Not specifically mentioned.
- Metrodora Ventures
- Details: Metrodora Ventures is an investment firm founded by Chelsea Clinton, focusing on health and wellness. Chelsea Clinton will join the Summer Health board.
- Investment Focus Areas: Health, wellness, technology.
- Notable Investments: Not specifically mentioned.
- Pivotal Ventures
- Details: Pivotal Ventures is an investment and incubation company founded by Melinda French Gates, focusing on social progress and equality.
- Investment Focus Areas: Social progress, equality, technology.
- Notable Investments: Not specifically mentioned.
What's Next for Summer Health?
Summer Health is poised to capitalize on the growing demand for digital health solutions. With their recent $11.65 million Series A funding, they plan to enhance their text-based pediatric support and expand distribution through consumer and employer channels. This expansion presents a significant opportunity to reach more parents and provide comprehensive care, including lactation support and developmental milestone tracking.
Future fundraising opportunities appear promising as the company continues to grow and attract interest from high-profile investors. However, challenges such as competition from other telemedicine providers and ensuring the quality of text-based medical advice remain. Navigating regulatory requirements will also be crucial as they expand into new markets.
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