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The company reported second-quarter revenue of $18.5 million with a net loss of $28.7 million, alongside operating expenses totaling $42.2 million.
Shawn Ellis, managing partner at Distributed Ventures, tells MobiHealthNews why and how the firm's recent raise will go toward advancing digital health.
The round brings the virtual care company's total raise to $205 million.
Informa Markets will manage the massive health technology conference, while HIMSS will continue overseeing content and programming.
The company utilizes machine learning and patient data to deliver personalized medication management pertaining to polypharmacy.
It expects continued long-term growth in the demand for virtual care services post-pandemic.
The company will use the investment to fuel the expansion of Paradigm,its FDA-cleared, AI-enabled surgical navigation platform.
The company reported a 19% increase in revenue in the second quarter of this year compared to the prior year, driven by an 82% increase in B2B revenue.
The multiple sclerosis-focused company will use the funds to speed up the company's commercialization efforts.
The New York-based company reported a 10% increase in revenue, boosted by an 18% gain from BetterHelp to $292.4 million.