ST. LOUIS — St. Louis-based startup SteadyMD plans to expand its telehealth platform after raising $6 million in Series A financing.
The funding round was co-led by Utah-based Pelion Venture Partners and Next Ventures. Other investors in the deal include First Trust Capital Partners, the Daube family office, Crosscut Ventures, M25 Group, Wild Ventures and Hyde Park Venture Partners. As part of the financing, Dr. Darren Phelan of Next Ventures will join SteadyMD’s board of directors.
Founded in 2016 by CEO Guy Friedman and Chief Operating Officer Yarone Goren, SteadyMD is a member-based health care provider that has developed a telehealth platform that allows patients to interact with doctors through text, phone and video chats. The company operates out of St. Louis and Westlake Village, California.
SteadyMD’s technology includes a so-called “matching engine," which aims to evaluate patients and match them with the doctor best suited to serve them.
“You cannot find a doctor that’s perfect for you right now easily. About 99% of doctor searches are based on ZIP code. We’re unlocking this whole new world of matching and alignment with a doctor that’s going to take care of you for the rest of your life," Friedman said.
The telehealth platform includes separate apps for patients and providers, and provides medical assistants to help patients with prescriptions, referrals and lab orders. SteadyMD’s doctors provide primary care, pediatrics and functional medicine.
With its fresh funding, Friedman said the company plans to bolster its technology, expand its current offerings and add more medical services. The startup has 70 employees, a figure expected to rise with its growth.
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