Home care startup Sprinter Health has closed a $55 million Series B funding round, led by General Catalyst. This additional infusion of capital brings total funding for the company to $125 million so far. Max Cohen and Cameron Behar started Sprinter Health as a pandemic startup. Their mission—to connect the disconnected and deliver healthcare’s missing ingredients—at home and in 18 states—is helping to fill those gaps.
The firm has garnered a lot of attention and for good reason with their revenue growing six-times in just the last year. The unprecedented surge provides a glimpse into the rising demand for at-home healthcare solutions. This trend is only accelerating, in large part thanks to the lingering effects of the pandemic. With the new funding, Sprinter Health will be able to increase its coverage area and improve its service capabilities to better meet customer needs.
Looking to improve how at-home healthcare functions, Sprinter Health is doing things a little differently. They employ a sophisticated route simulator that takes into account traffic, weather and parking availability. This technology helps make sure that their clinical staff, called “sprinters,” can maximize the time and resources they do have. Each sprinter can see up to 12 patients per day. They provide vital preventative services including blood draws, diabetic retinal eye exams and colorectal cancer screenings.
Cohen stressed the need to prioritize patient engagement rather than minimize patient travel time.
“We need to make sure that our employees are spending as much time as possible serving patients rather than driving,” – Max Cohen
The new funding round drew heavy participation from some of the industry’s most well-known investors. Among them were Andreessen Horowitz, Google Ventures, Accel, and the University of California Regents. Julie Yoo, a general partner at a16z and member of Sprinter Health’s board, highlighted the challenges faced by home-based care companies in achieving sustainable economics.
“There have been many home-based care companies that have failed because it’s really hard to make the unit economics work when you are deploying humans into the field,” – Julie Yoo
Cohen and Behar draw heavily from their time at Google and Facebook. Their goal, to transform the healthcare arena with their technology-focused experiences. Sprinter Health’s business model is similar to trendy delivery services like Instacart and DoorDash. This apples-to-oranges comparison illustrates the tremendous potential for technology to transform the efficiency of healthcare delivery.
Having started out originally only serving five states, Sprinter Health has quickly scaled its footprint across the nation during this last year. It’s a company that’s doing well, thanks to a booming demand for at-home healthcare services. Convenient medical care from home. This change furthers health equity by increasing patients’ access to essential care.
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