Goldman Sachs leads $50m investment in health tech startup 98point6


Goldman Sachs leads $50m investment in health tech startup 98point6

iStock/ Natali_Mis

Seattle-based healthcare technology start-up 98point6 has raised $50 million in new funding to scale its on-demand text-based primary care service.

The merchant banking division of Goldman Sachs was an anchor investor in the Series C round, which was further supported by existing investors, bringing the total amount raised to $86.1 million since the company’s inception in 2015.

98point6 will use the latest investment for expansion into new markets, including health plans, health systems and higher education. The company is also expanding its service to all 50 states by early 2019.

“Primary care is the main entry point for individuals into an increasingly complex healthcare system, making it the ideal setting for providing patient education, encouraging preventive care and controlling downstream costs,” said Jo Natauri, global head of healthcare investing for the Goldman Sachs Merchant Banking Division. “We are excited to partner with 98point6 because they are dedicated to improving the physician and patient experience—empowering board-certified physicians with technology to enhance care delivery and drive patient engagement.”

Robbie Cape, CEO and co-founder of 98point6, said: “We set out to make primary care accessible and affordable for everyone, to address a crisis in America that has led to nearly one-fifth of the population not having a relationship with primary care. The phenomenal demand we’ve seen in just a short period of time reaffirms the need for 98point6, and this latest investment will enable us to deliver on our vision, driving deep engagement with our patients and empowering them to take control of their health.”

98point6, Healthcare, Technology, Funding, Investment, Goldman Sachs, Primary care, US