Sep 19, 2017
98point6 Raises $19.5 Million in Series B Funding
SEATTLE–(BUSINESS WIRE)–98point6, a rapidly growing healthcare technology company, announced it has raised $19.5 million in Series B funding. Addressing growing challenges related to the rising cost and accessibility of healthcare, 98point6 also introduced the concept of Continuity Care. This new approach uses deep technology to deliver high-quality healthcare in sickness, in wellness and through the course of treatment at a massively lower cost than anything in the market today.
The two-year old company has raised a total of $35 million exclusively from private investors who believe 98point6 has an “audacious vision” and is on the right path toward transforming primary care. These investors sit at the forefront of multibillion-dollar corporations across industries including technology, healthcare, retail and financial services. With this round of funding, 98point6 will accelerate product development, expand its service to all 50 states (plus Washington D.C.) and execute on its commercial go-to-market strategy.
Bringing this vision to life is the 98point6 leadership team comprised of industry veterans with extensive business, technology, medical and regulatory experience. At the helm is Robbie Cape, co-founder and chief executive officer, whose 24-year career centers around building consumer technology businesses and products, including the family productivity app Cozi, which was acquired by Time Inc. in 2014. Additional members of the leadership team include Rob Schwietzer, chief product officer, who has deep e-commerce experience and previously led the Amazon Prime program; Damon Lanphear, chief technology officer, an expert at building large-scale, customer-centric, data-driven services; Brad Younggren, MD, chief medical officer, who is also a medical director at EvergreenHealth; and Tori Lallemont, JD, MPH, chief compliance officer, who brings expertise in healthcare privacy, FDA regulations and clinical trials. 98point6 currently has 70 full-time employees.
“It is well-documented that skyrocketing costs and lack of access to quality medical care are two of the biggest challenges facing our healthcare system today. An unconscionable number of people don’t receive the care they need, physicians are burning out and employers are hamstrung by healthcare costs,” says Cape. “98point6 is creating a new approach to primary care where everyone wins: consumers, physicians, businesses, payers and provider groups. We are ecstatic to have the financial backing of our incredible investors, along with the expertise of our prestigious medical advisors and early development partners. All are helping us navigate an incredibly complex industry to build a solution that significantly improves the overall experience.”
Putting Physicians at the Center
Board-certified physicians who treat patients are carefully selected employees of 98point6 and also help shape development of the service. Further guiding the company is an 18-member Medical Advisory Board (MAB), comprised of distinguished physicians with multidisciplinary expertise and diverse geographic perspective. This highly engaged group participates in twice yearly in-person strategy retreats and contributes regularly to product reviews. Members include:
- Gordon Cohen, MD, PhD, MBA, FACS – former Division Chief of Cardiothoracic Surgery at Seattle Children’s Hospital
- Edward Shortliffe, MD, PhD, MACP, FACMI – a pioneer in biomedical informatics
- Regina M. Benjamin, MD, MBA – the 18th Surgeon General of the United States
- Robert Krasner, MD – former Attending Physician to the U.S. Congress and Supreme Court
- Darin Portnoy, MD, MPH – former President, Doctors Without Borders USA
- Tadataka Yamada, MD – former President of the Gates Foundation Global Health program
“Biomedical informatics—the science supporting the use of healthcare information to augment patient/physician collaboration—is a key piece of the healthcare reform puzzle,” says Dr. Shortliffe. “Today’s system is unsustainable, both in terms of cost and quality of what is broadly available. It demands a solution that melds data science with decision-support technology to deliver high-quality care for a fraction of the cost. When I first learned about 98point6, I knew that it had the potential to be a key part of the solution.”
Understanding the Employers’ Perspective
More than 15 Early Development Partners (EDPs) representing private and public-sector organizations, and some of the country’s most recognizable brands, have signed agreements to work with 98point6 on developing a commercial offering. EDPs meet regularly to help define top employer and consumer pain points, provide feedback on the product and share innovative approaches to employee utilization of benefits. Many EDPs will participate in the pilot program when it is launched in early 2018.
Founded in 2015 and advised by distinguished leaders in medicine, 98point6 combines leading-edge technology with the expertise of board-certified physicians to deliver Continuity Care—high-quality healthcare that is ever present and available along the consumer’s journey in sickness and in wellness, at a massively lower cost than anything else in the market today. An early preview of 98point6 is available on the Apple App Store and Google Play. For additional information, please visit www.98point6.com.