TytoCare, a telehealth solution company, will get the chance to expand thanks to Series D funding globally. Helmed by the growth investors Tiger Global and Qumra Capital, the AI-powered platform provides on-demand remote medical examinations. tytocare 50m insight partnerswiggersventurebeat.
They doubled the company’s value with the oversubscribed round. The funding shortly follows TytoCare’s funds were raised $50M in April 2020. They have since made $100M over the last few months. tytocare aitrained 50m insight.
Insight Partners doubled their previous investments. The existing partners and investors, Olive tree Ventures, Qualcomm Ventures LLC, and Shenzhen Capital Group Company, brought around $155 currently. This facilitated the extension as it brought in new investors. These new investors are Qumra Capital and Tiger Global Management.
TytoCare saw skyrocketing growth. As the world adopted telehealth products, companies started to shift their focus to data-driven healthcare and virtual primary care. Other areas of interest included asynchronous devices and remote monitoring.
In 2020, TytoCare saw a 2.5X revenue increment. The funding will help TytoCare expand its services and telehealth platform throughout Asia, Europe, and the U.S. They want to make their presence in the global healthcare payer market.
The company will introduce AI and machine learning on home diagnostics solutions. They will also introduce patented technologies. They also launched diagnostic support powered by AI.
The awareness regarding telehealth saw an increase during the pandemic. The platform gets its partners a really good ROI. During the pandemic, many hospitals and insurers used the platform to meet the need for care for chronic ailments, primary care, remote monitoring, etc. The utilization is in double digits. This is five times more than virtual care solutions.
The platform is a class apart from others in the telehealth market. This is not our average video medical consultation session. Patients and clinicians alongside healthcare organizations, an end-to-end solution.
Tytocare, to this day, has partnered with around 150 health organizations and insurers worldwide. It has partnered with over 6,000 clinicians with the help of telehealth solutions.
In 2020, the company did over 650,000 telehealth examinations globally. The innovative technology of Tytocare takes the telemedicine world to the next phase. According to a TytoCare, they have revolutionized the global healthcare industry.