Virtual Specialty Care Platform Summus Raises $19.5 Million in Funding

Summus, a virtual specialty care platform, announced that it has raised $19.5 million in funding, bringing its total fundraising to $70 million. The New York-based company offers employers, health plans, hospitals, medical groups, and networks a virtual care platform focused on specialty care. This includes peer-to-peer solutions that allow primary care and in-plan specialist providers access to a network of specialists.

The funding will be used Summus to scale its growth and innovation to meet the increasing demand for virtual specialty care. Last year, the company received a $22 million strategic investment from the Glenstone Foundation and Mitchell Rales, cofounder and executive committee chairman of Danaher Corporation. Prior to that, Summus secured $21 million in a Series B round in less than a year.

In a similar vein, Bold, a healthy aging platform, has also announced its successful funding efforts. The company secured $17 million in Series A funding, led Rethink Impact, bringing its total funding to $27 million. Samsung Next and existing investors Andreessen Horowitz (a16z) Bio + Health, Primetime Partners, GingerBread Capital, and Khosla Ventures also participated in the funding round. Jenny Abramson, the founder and managing partner of Rethink Impact, will join Bold’s board of directors.

Bold partners with Medicare plans and providers to offer virtual exercise programs aimed at preventing falls, increasing physical activity, and reducing musculoskeletal pain and disability. The funds raised will be used to expand Bold’s exercise offerings and support its expansion with national and regional provider groups and Medicare plans.

The investment in Summus and Bold reflects the growing demand for virtual healthcare solutions that cater to specific needs. These platforms are poised to play a crucial role in preventive healthcare for older adults, providing innovative and evidence-based solutions that address the challenges of an aging population and rising healthcare costs.

Sources:
– [Summus press release]
– [Bold press release]