Investor
"Remote monitoring is here to stay," CEO Zane Burke said during yesterday's earnings call.
The startup, which specializes in a range of at-home testing kits, so far only offers a COVID-19 testing product for point-of-care providers.
GSR Ventures led the round with participation from sequoia Capital, Storm Ventures, NextGen Venture Partners and BIXINK Therapeutics.
This new investment brings the company's total funding to $45 million.
Also: Dascena closes $50 million for diagnostic algorithms; Scopio Labs collects $16 million Series B to expand digital microscopy business.
The company fielded a major spike in demand and now paints a rosy long-term picture for its telehealth business, although its poor EPS disappointed some investors.
The company has halted sales of the Motiv Ring to consumers, but will continue to support its health tracking app for existing owners.
Optum was already a stakeholder in the New York company thanks to a "significant investment" it made early in 2019.
Like many other virtual-care services, the company has seen its audience spike within the past few months.
Patients can enter their insurance information and needs, and will get a curated list of products with prices.