Total amount raised
$400 Millions
Latest funding date
6/1/2022
Location
Tomorrow Health has successfully raised significant funding through multiple rounds, with notable investors such as Obvious Ventures and Montauk Ventures. The company is dedicated to transforming home-based healthcare by leveraging advanced technology to streamline care delivery and improve patient outcomes.
Keep reading to explore the intricacies of Tomorrow Health's fundraising journey and the investors backing this innovative platform.
What Is Tomorrow Health?
Tomorrow Health, founded in 2018 by Gabriel Flateman and Vijay Kedar, is a technology-driven home healthcare company based in New York, New York. The company aims to revolutionize home-based care by connecting providers, health plans, and suppliers to ensure patients receive the care they need at home.
With a team of 101-250 employees, Tomorrow Health leverages advanced technology to streamline care delivery, improve patient outcomes, and make the home the primary place of care. Their services include care coordination, product education, and an online platform for ordering durable medical equipment and supplies.
By aligning incentives across the home-based care ecosystem, Tomorrow Health ensures that patients can access high-quality care in the comfort of their homes, ultimately transforming the way individuals and families manage their healthcare needs.
How Much Funding Has Tomorrow Health Raised?
- Seed Round
- Amount Raised: $7.5M
- Date: April 2020
- Lead Investors: Andreessen Horowitz
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To establish the company's foundation and develop its initial technology platform.
- Series A
- Amount Raised: $25M
- Date: April 2021
- Lead Investors: Andreessen Horowitz
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand the company's market reach and enhance its technology for better care coordination.
- Series B
- Amount Raised: $60M
- Date: June 2022
- Lead Investors: Bond
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale proprietary technology, enter new markets, and expand partnerships with health plans.
Total Amount Raised: $92.5M. Current Valuation: Not publicly disclosed.
Key Investors
- Bond
- Details: Bond is a venture capital firm known for investing in high-growth technology companies. They have a reputation for backing innovative startups that show significant market potential.
- Investment Focus Areas: Technology, high-growth startups, innovative solutions.
- Notable Investments: Stripe, DoorDash, Canva.
- Andreessen Horowitz
- Details: Andreessen Horowitz is a prominent venture capital firm that invests in both early-stage startups and established growth companies. They are known for their extensive network and support for entrepreneurs.
- Investment Focus Areas: Technology, healthcare, consumer sectors.
- Notable Investments: Facebook, Airbnb, Lyft.
- Obvious Ventures
- Details: Obvious Ventures is a venture capital firm that focuses on companies combining profit and purpose. They aim to invest in businesses that have a positive impact on the world.
- Investment Focus Areas: Sustainability, health, wellness.
- Notable Investments: Beyond Meat, Olly, Medium.
- BoxGroup
- Details: BoxGroup is an early-stage investment fund that invests in technology startups. They are known for their hands-on approach and support for young companies.
- Investment Focus Areas: Early-stage technology startups.
- Notable Investments: Warby Parker, Glossier, ClassPass.
- Sound Ventures
- Details: Sound Ventures is a venture capital firm co-founded by Ashton Kutcher and Guy Oseary. They focus on technology-driven companies with innovative solutions.
- Investment Focus Areas: Technology, media, innovative solutions.
- Notable Investments: Airbnb, Uber, Spotify.
What's Next for Tomorrow Health?
Tomorrow Health stands at the cusp of a significant opportunity, with the home-based healthcare market estimated at $195 billion. By enhancing their proprietary technology and expanding into new markets, they aim to streamline care coordination and improve patient outcomes. The company plans to leverage its recent $60 million Series B funding to scale operations and form new partnerships with health plans.
Future fundraising rounds seem likely as Tomorrow Health continues to grow and attract attention from prominent investors. However, the path ahead is not without challenges. Navigating regulatory requirements, ensuring high-quality service, and managing rapid expansion will be critical hurdles. Yet, with a strong foundation and clear vision, Tomorrow Health is well-positioned to transform home-based healthcare.
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