Iora Health, a Boston healthcare startup backed by GE Ventures, announced on Thursday it has raised a $75 million Series D round led by Temasek, an investment firm owned by Singapore's government.
"Temasek's investment in Iora will accelerate our vision of fixing health care delivery."
The startup, which aims to reinvent primary care, said it will use the funds to expand beyond its triple-digit growth this year. With 34 primary care practices in 11 U.S. markets already, Iora says it's "innovative model delivers an exceptional patient experience, with coordinated care that drives better clinical outcomes and significantly lower costs than the traditional healthcare system." Part of that model includes "Chirp," its proprietary collaborative care IT platform, which will also benefit from this investment.
"Temasek's investment in Iora will accelerate our vision of fixing health care delivery which is one of the largest business and social problems, not just in the US, but globally," Rushika Fernandopulle, co-founder and CEO of Iora Health, said.
Other investors participating in this round include .406 Ventures, Flare Capital Partners, F-Prime Capital, Khosla Ventures, Polaris Partners and Rice Management Company.
"Iora's model simultaneously improves patients' health and reduces the overall costs of health care to the system -- an essential need for this country," Leslie Bottorff of GE Ventures said in a statement.
