Health-tech company Wheel has raised $150 million in its Series C funding round led by Lightspeed Venture Partners and Tiger Global. The round so the participation of new investors Coatue and Salesforce Ventures. Existing investors CRV, Tusk Venture Partners, and Silverton Partners also invested.
Started in 2018, Wheel has pioneered a unique way for companies to build and scale virtual care. They have empowered healthcare providers. They provide companies and clinicians with everything they need to deliver care virtually.
By providing the infrastructure to power virtual care, Wheel is committed to moving the healthcare industry forward. In 2021, they experienced 1.3 million patient visits and expect to triple visit volume by the end of 2022. The company was able to grow its clinician network by more than 60% year-over-year while simultaneously maintaining a 90% retention rate.
This brings Wheel's total funds raised to $216 million to date. In May 2021, they raised $50 million in their Series B round. They had raised $13.9 million in their Series A round.
Wheel's unique tech-enabled approach to care delivery allows efficiency and quality care despite a lessening workforce and ist increasing crisis. The venture’s focus on clinician experience allows them to maintain a 90% retention rate for both years, that is, 2020 and 2021.