02 May 2022 | News
$300M Series D to fund continued growth of Biofourmis' innovative virtual care solutions
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Biofourmis, a global leader in virtual care and digital medicine, has surpassed unicorn status with a $300 million Series D investment led by leading global growth equity firm General Atlantic. CVS Health and existing investors also participated in the round, which will help fuel the company's next phase of growth. Biofourmis also announced that former Medtronic CEO and Chairperson at Intel, Dr. Omar Ishrak, will join the company's Board of Directors as Chairman.
With this investment, Biofourmis plans to scale up its virtual care offerings. This includes delivering personalized and predictive in-home care to a growing number of acutely ill patients and expanding its recently announced virtual specialty care services, Biofourmis Care, to those patients with complex chronic conditions.
In parallel, Biofourmis plans to fund clinical trials to advance the development of digital therapies that work in conjunction with high-value drugs to improve efficacy, while forming strategic partnerships with companies in the digital health and virtual-first care ecosystems. Through these relationships, Biofourmis plans to accelerate the growth of its virtual care platform, Care@Home, which enables providers and payors to remotely manage patients across the entire care continuum.
To date, Biofourmis has raised a total of $445 million in funding. Existing investors include SoftBank Vision Fund 2, Openspace Ventures, MassMutual Ventures, Sequoia Capital and EDBI.
Originally based in Singapore, Biofourmis moved its headquarters to the United States in 2019.