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Grand Rounds' app and website connect patients in more than 120
countries with doctors, surgeons and other specialists in over
110 U.S. institutions.
The company, whose customers include Comcast Corp, Costco
Wholesale Corp and Evernote, said on Thursday it would use the
funds to expand its technology, care team and analytics
platform.
The latest round of financing brings Grand Rounds' total funding
to $106 million. Investors in the company include former
Facebook Inc Chief Financial Officer David Ebersman and
Rockefeller family's venture capital arm, Venrock.
Technology news website Tech Crunch reported in June that Grand
Rounds was valued at around $750 million as part of a new
financing round, citing sources.
Grand Rounds said it gets more than 80 percent of its revenue
from companies looking to save costs on healthcare plans for
employees.
"As a CEO of one of our customers recently told me, he is
spending less on Grand Rounds then he is spending on coffee per
employee for his company," Owen Tripp, co-founder and chief
executive of Grand Rounds, told Reuters.
The San Francisco-based company helps its corporate customers
save healthcare costs by connecting employees seeking medical
opinion with relevant specialists using algorithms.
This process helps reduce patient complications and failed
treatments, resulting in lower staff healthcare costs for
companies.
(Editing by Saumyadeb Chakrabarty)
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