SAN FRANCISCO, Nov. 12, 2020 /PRNewswire/ — Solv, the convenient healthcare platform that connects patients to a robust network of healthcare providers, today announced the close of its $27 Million Series B+ funding round led by Acrew Capital with participation from MultiCare Health System, Light Street Capital as well as previous investors Benchmark and Greylock Partners. The company will use the capital to rapidly expand its national network of convenient healthcare providers, enabling more access, cost transparency and empowering more Americans to manage everyday healthcare from their phones.
The funding round helps Solv give consumers unprecedented access to same-day doctors’ visits, virtual visits, chat-based healthcare, and COVID testing – across all 50 states. As part of the raise:
The raise builds upon Solv’s recent acceleration of growth including:
“We’re seeing dramatic shifts in the way healthcare is being accessed today. Until recently, it’s been a one size fits all experience where you must book an appointment weeks in advance, drive to the office, wait and only then see a doctor. COVID-19 has pulled the future forward. Healthcare has shifted to a digital-first experience, allowing Americans to engage with healthcare from their homes without disruption in their daily lives,” said Heather Fernandez, CEO and co-founder of Solv. “Solv is leading the charge to make sure that innovative providers can offer a digital-first experience, and consumers get more access to what they need, when they need it, from their phones.”
Overnight COVID changed how consumers access healthcare. Patients have gone online to address the majority of their needs. More appointment scheduling, video visits, electronic prescriptions, doctor chats and bill payment is happening online than it ever has before. This consumer shift has created the need for providers to adopt modern tools that address patients’ digital-first expectations. As a result, providers have quickly turned to Solv’s software to meet convenient care demands and have rolled online scheduling, telemedicine, chat, and COVID test queuing.
According to Solv:
“I’ve had the honor to have worked closely with the dedicated and ambitious Solv team since 2017. I’m thrilled to further extend my partnership and join the board as they are not only rethinking what the healthcare industry should look like, but taking major strides in transforming it so that Americans don’t have to sacrifice their health just because it wasn’t easy to get a doctors appointment,” Theresia Gouw, Founding Partner of Acrew Capital. “Solv’s massive growth this year proves that patients nationwide are embracing the move to digital healthcare so that they don’t have to wonder what doctor to go to, where they should be seen and how much it would cost them. Solv is enabling consumers to get the care they need, when they need it, which is truly remarkable.”
To conveniently book a telemedicine appointment on Solv, or to find a nearby COVID-19 test site, please visit www.solvhealth.com.
About Solv
Solv is a consumer-focused healthcare app that connects patients to a robust network of convenient healthcare providers, empowering you to simplify your everyday healthcare needs. Solv partners with high-quality care providers across the country to make convenient care simple, friendly and transparent for consumers, the way it should be. For providers, Solv’s technology improves the quality of service and the performance of their practice. For consumers, the Solv app utilizes this provider network to unlock same-day appointment availability, virtual visits and cost transparency in just a few taps from a mobile phone. Solv puts you in control of your healthcare by letting you know where you can go, when you’ll be seen, and how much it will cost. Solv is building a world where everyone, nationwide, can access healthcare that is convenient and affordable.
About Acrew Capital
Acrew Capital is an early stage venture firm that engages in long term partnership with world-class teams uniquely suited to solving big, hard problems. We believe the best investment decisions are driven by a combination of depth of conviction and diversity of perspective and that investment should be tailored to the specific needs of each founding team. Acrew investment themes include Cybersecurity and Infrastructure Modernized, Financial Services Rebuilt, Work Reimagined, Data Interconnected and Community Activated. The Acrew founding team previously worked together at Aspect Ventures and combines experience from Accel, Brown University, Google, Greycroft, and Imperva. Current Acrew team investments include Cato Networks, Chime, Exabeam, Pie Insurance, Silverfort, Tara.ai, and HotelTonight/AirBnB. Collectively, the firm’s track record includes 5 IPOs, over 20 successful acquisitions and over 100 rounds of follow-on capital raises, resulting in over $20 billion in market value created and over $1B in returns to investors. For more information visit www.acrewcapital.com.
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