House call and video-visit startup RetraceHealth lands $7M in funding June 7, 2016

House call and video-visit startup RetraceHealth lands $7M in funding June 7, 2016

RetraceHealth, one of McKesson Ventures’ portfolio companies, has secured $7 million in funding to expand its services and staff. This round of funding comes after a $1 million round of funding early this year.

The Minnesota-based healthcare startup specializes in bringing primary healthcare to its patients through home and video visits at home, work, or elsewhere. Visits are typically carried out by nurse practitioners and cost a flat fee of $60 for video visits and $150 for home visits.

Additionally, some insurance providers cover visits from RetraceHealth, making it an even more attractive option for consumers. Aside from the everyday pricing and co-pay options with some insurers, RetraceHealth also offers consumers the option of signing up for a membership for just $300 per year.

RetraceHealth looks to disrupt the current health care delivery model, adding convenience, simplicity, and healthcare that is tailored to its customers.

Making healthcare more convenient for businesses is another of RetraceHealth’s goals, and the company boasts business customers ranging from 10 employees to 12,000. Working with RetraceHealth, business customers can offer more healthcare convenience to its workers without having to invest time and money into on-site health clinics.

Lemhi Ventures, a venture capital firm based out of Wayzata, led this round of funding. Past investors include Blue Cross and Blue Shield of Minnesota and HealthEast Care System, both of which participated in this new round of funding.

Currently at 20 employees, RetraceHealth plans to add 10 more to its roster by July. The company also plans to expand to Wisconsin and invest in product development.

Read more about RetraceHealth’s recent $7 million round of funding in the Minneapolis/St. Paul Business Journal.

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