Just months after launching in March with a $2.9 million oversubscribed funding round, Dallas-based Recuro Health has brought in more capital to continue accelerating its growth.
The digital health solutions company has raised $15 million in Series A financing led by ARCH Venture Partners, a Chicago-based early-stage venture firm focused on investing in life science pioneers. The round also included follow-on support from existing seed round investors OLSF Ventures, Cortado Ventures, 1843 Capital, and Sage Venture Partners.
“This new round of funding demonstrates our market-leading position in the digital health solutions space. The continued confidence of investors in our innovative approach to solving some of the most pressing challenges in healthcare and the strength of our management team will lead us forward in the year ahead,” Michael Gorton, CEO and founder of Recuro Health, said in a statement. “The relationship with ARCH is a significant, exciting part of this round, providing the opportunity to blend our traditional healthcare expertise with technology and life sciences.”
Formerly founded Teledoc
Gorton previously founded Dallas-based Teladoc and led it as CEO and chairman for its first seven years of operation. Several other leaders with Teladoc experience have now joined Recuro.
“Recuro Health, led by the founding Teladoc team that helped create the digital health category over twenty years ago, is disrupting the traditional healthcare delivery system by advancing integrated care, risk stratification and diagnostics,” Robert Nelsen, co-founder and managing director of ARCH Venture Partners, said in a statement. “Recuro is an innovative healthcare solution provider, with a business model that is bringing to reality improved outcomes and more efficient care.”
Recuro plans to use the investment to fuel its ongoing acquisition strategy and expand marketing efforts. In May, the new startup acquired SupDoc, an AI-enabled telehealth startup with a holistic, cost-effective model for care delivery. That move was meant to enhance Recuro’s virtual health platform: “a curated suite of telehealth solutions that enables consumers to engage with physicians, receive personalized care, and monitor their own health, no matter their location or circumstance.”
Integrated care team approach
Recuro’s digital health model takes an integrated care team approach, addressing primary care and behavioral health issues with a unified group of primary care physicians, psychiatrists, and counselors. It also offers consumers a curated suite of virtual, fully customizable solutions to monitor and support their health, from home testing to screening capabilities to genetic testing.
Ultimately, the team wants to transition the U.S. healthcare system from a reactive, disease-focused model to a population health outcomes approach. Recuro wants all patients to have a way to engage with physicians, receive personalized care, and manage their health, no matter their location or situation.
This summer, Recuro released a COVID-19 rapid testing solution that enables employers to get access to many of the latest FDA Emergency Use Authorization-approved COVID rapid tests. It generated wide receptivity among federal and state governments and corporate healthcare decision-makers, according to Gorton.
That’s precisely what the company does, the CEO says: “empower earlier and more efficient interventions.” It also aims to be a supplement to in-person care and provide a “true mosaic” of members’ health and the efficacy of past interventions.
“Recuro healthcare solutions occur at the intersection of quality, access and affordability, delivering appropriate care at the right time and place,” Gorton says. “We are particularly gratified with our strong capabilities and responsiveness to assist with safe return-to-work requirements nationwide.”
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