Iora Health scores $100m

Existing investors GE Ventures and Temasek both took part as the primary healthcare provider boosted its overall funding to more than $220m.

US-based primary care provider Iora Health raised $100m this week in a series E round that included Singapore state-backed investment agency Temasek and industrial manufacturer General Electric.

F-Prime Capital and Devonshire Investors, subsidiaries of financial services group Fidelity, also participated in the round, as did insurance firm Humana, .406 Ventures, Flare Capital Partners, Khosla Ventures, and Polaris Partners. General Electric took part through its GE Ventures unit.

Iora provides healthcare through a model that involves it opening practices with partner organisations. Its offering includes health coaches and behavioural health specialists as well as telehealth technology and a collaborative care platform called Chirp.

The series E cash will be used to enhance Chirp and to fund an ongoing expansion drive, according to Rushika Fernandopulle, Iora’s co-founder and CEO.

Fernandopulle said: “Last year we doubled our number of patients, and we are on track to do the same this year. Iora’s vision since our inception has been to transform healthcare. To have truly transformative impact, we must continue to grow and care for more patients.

“With the support of our investors, this new funding will allow us to deliver our high quality care to more patients in new and existing markets.”

The round increased the overall amount raised by Iora to approximately $224m, and follows a $75m series D round backed by GE Ventures, Humana, Temasek, F-Prime Capital, .406 Ventures, Flare Capital, Khosla, Polaris and Rice Management Company in late 2016.

GE Ventures, Rice Management, Khosla Ventures, .406 Ventures, Polaris Partners and F-Prime Capital (then known as Fidelity Biosciences) had supplied $28m for the company through its series C round the year before.

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