What is 98point6?
Founded in 2015 and headquartered in Seattle, Washington, 98point6 operates as an on-demand, text-based virtual primary care clinic. The company aims to provide accessible and convenient healthcare services through its digital platform, addressing the growing demand for remote medical consultations and primary care solutions. Its business model focuses on leveraging technology to enhance patient engagement and streamline the delivery of healthcare.
The company's funding trajectory, marked by various rounds including Series A through E and other financing rounds, indicates a consistent drive for expansion and technological advancement. The substantial capital raised suggests a strong market validation and investor confidence in 98point6's innovative approach to primary care.
How much funding has 98point6 raised?
98point6 has raised a total of $293M across 8 funding rounds:
Series A
$750K
Debt
$11M
Series B
$19.5M
Series C
$50M
Series D
$43M
Series E
$118M
Other Financing Round
$20M
Other Financing Round
$30.7M
Series A (2015): $750K, investors not publicly disclosed
Debt (2016): $11M, investors not publicly disclosed
Series B (2017): $19.5M, investors not publicly disclosed
Series C (2018): $50M featuring Goldman Sachs
Series D (2020): $43M backed by Goldman , Sachs & Co.
Series E (2020): $118M with participation from Activant Capital Group LLC, L Catterton Management Limited, and The Goldman Sachs Group, Inc.
Other Financing Round (2022): $20M led by L Catterton and Activant Capital Group
Other Financing Round (2023): $30.7M supported by L Catterton, Transcarent, and Activant Capital Group
Key Investors in 98point6
L Catterton
L Catterton is a global consumer-focused private equity firm headquartered in Greenwich, Connecticut. Since its founding in 1989, the firm has raised tens of billions of dollars across multiple fund families and made more than 275 investments in consumer brands worldwide, deploying capital through flagship buyout, growth, Latin America, Europe, Asia, and real estate strategies.
Activant Capital Group
Activant is a research-led growth firm that invests in relentless founders, focusing on innovative solutions across various industries. Their portfolio includes companies that enhance fulfillment experiences, automate enterprise workflows, deliver autonomous IT, and combat financial crime. They aim to empower businesses by digitizing operations and providing advanced technology solutions. Activant serves a diverse range of clients, including large enterprises and merchants globally.
Transcarent
Founded in 2018 and headquartered in San Francisco, California, Transcarent is a health and care platform for employees of self-insured employers and their families to be connected to information and advisors that support medical decisions.
What's next for 98point6?
With its recent major strategic investment, 98point6 is poised for further scaling and innovation. The company is likely to focus on expanding its service offerings, enhancing its technological infrastructure, and potentially broadening its market reach. The substantial backing from investors such as L Catterton and Activant Capital Group, known for their strategic investments in growth-stage companies, signals an intent to solidify its market leadership and explore new avenues for growth within the digital health sector. Future developments may include strategic partnerships, further platform enhancements, and increased patient acquisition efforts.
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