Health tech startup Wheel bags USD 50 million in Series B funding round

By Nikita Chaurasia  | Date: 2021-05-21

Health tech startup Wheel bags USD 50 million in Series B funding round

Wheel, a leading Texas-based health technology company, has reportedly secured USD 50 million in its Series B funding round which was led by Lightspeed Venture Partners. Existing investors such as Silverton Partners, CRV, Tusk Venture Partners, and JPMorgan Chase & Co. had also participated in fundraising.

According to reliable sources, Wheel will use these funds to expand the network of clinics to include new specialties and enhance technology. These solutions will be used to provide top-quality virtual care to millions of patients within seconds from the comfort of their homes.

For the record, Wheel was founded in 2018 to provide clinicians and companies with a technology that enables them to provide state-of-the-art virtual care to patients easily. The company achieves this by allowing its customers to build virtual care services under their brand by removing regulatory and operational barriers.

Moreover, the platform is known to provide clinicians with a unified system to efficiently manage their virtual care practice.

Wheel will increase its current training resources using the fresh funds to provide the required support to clinicians and aid them in getting used to the hybrid and virtual-first care models, sources cited. The health-tech company is also likely to expand its team and customer base.

Michelle Davey, the co-founder, and CEO of Wheel mentioned that if access to healthcare needs to be enhanced, it is important to realize that there is an easier and better way to reach patients. She further added that the company intends to provide advanced clinical care to patients at their fingertips.

Considering the COVID-19 pandemic, Wheel is currently helping the healthcare industry in adopting digital solutions. It is worth noting here that the company has expanded its network of clinics by 450% and recorded a 300% growth rate in 2020. Moreover, half a million patient visits were recorded last year using the Wheel platform.

Source Credits –

https://www.prnewswire.com/news-releases/wheel-raises-50-million-series-b-to-build-the-next-generation-of-virtual-care-301294600.html

About Author

Nikita Chaurasia     aeresearch.net

Nikita Chaurasia

An accomplished professional in the field of content development, playing with words comes naturally to Nikita Chaurasia. After completing her post-graduate MBA degree in Advertising and PR, Nikita worked across numerous content-driven verticals, undertaking diverse r...

Read More

More News By Nikita Chaurasia

Russia denies plans of blocking YouTube & cutting off from the internet

Russia denies plans of blocking YouTube & cutting off from the internet

By Nikita Chaurasia

The Digital Development Minister of Russia has reportedly stated that the country is not planning to block Google’s video streaming platform YouTube as such a move would affect its users and will therefore be avoided.  It is worth notin...

Indian food delivery giant Swiggy to buy Dineout from Times Internet

Indian food delivery giant Swiggy to buy Dineout from Times Internet

By Nikita Chaurasia

Swiggy, an Indian food delivery giant, has recently announced an agreement with Times Internet to buy Dineout, a dining and restaurant technology platform. Swiggy will use the acquisition to enter the dining out (non-delivery) market, where it will c...

Grocery delivery platform Instacart files for U.S. stock market debut

Grocery delivery platform Instacart files for U.S. stock market debut

By Nikita Chaurasia

Instacart, a grocery delivery service, has announced that it has submitted a provisional registration statement with the Securities and Exchange Commission (SEC), clearing the way for the company to list its shares on the U.S. stock exchange. The ...

Tyson Foods improves annual sales outlook as meat prices surge in U.S.

Tyson Foods improves annual sales outlook as meat prices surge in U.S.

By Nikita Chaurasia

American food major Tyson Foods Inc. has reportedly improved its full-year sales outlook after witnessing better-than-expected earnings and revenue in the last quarter. The company raised its full-year sales to around USD 54 billion, above the averag...

EU likely to enforce new rules to regulate tech giants in spring 2023

EU likely to enforce new rules to regulate tech giants in spring 2023

By Nikita Chaurasia

The Executive Vice President of the European Commission Margrethe Vestager reportedly claimed that the union is likely to start enforcing the Digital Markets Act (DMA) in the spring of 2023. The antitrust legislation, which aims to limit the power of...