K Health Launches ‘K for Parents’ Pediatric Care and Raises $132M Series E
K Health provides access to data-driven, quality medicine in an integrated health system for the whole family
NEW YORK–(BUSINESS WIRE)–K Health, the data-driven digital primary care solution, announced today a step toward creating a global, integrated health system built on medical intelligence and easy access to best-in-class doctors. Together with the launch of K for Parents, a first-of-its-kind virtual pediatrics offering, the company closed a $132M Series E round of funding.
The round was led by GGV Capital and Valor Equity Partners with participation from Kaiser Permanente pension fund and LTS Investments, the investment offices of Lemann, Telles and Sicupira, behind 3G Capital. Valor Equity Partners’ Founder and CEO Antonio Gracias, who sits on the boards of SpaceX and Tesla, will join the board along with GGV Capital’s Managing Partner Hans Tung, who is also an investor in Peloton, Wish, and Affirm. Vivek Pattipati, Partner at Valor, will join as an observer. Additional investors include 14W, Max Ventures, Pico Partners, Marcy Venture Partners, Primary Venture Partners and BoxGroup.
“The world needs a new archetype for health care, and K Health’s data, world class doctors, and team are resolute enough to deliver this,” said Tung, Managing Partner at GGV Capital. “GGV backs companies with potential to serve the greatest number of people, and by solving the healthcare inequities of access and affordability, K Health is one of the most impactful consumer health companies constructing the future of care for us all.”
K for Parents offers ongoing pediatric insights and care for children ages 3-17. It works in two ways:
Free symptom checker
- Connects families to answers 24/7, sharing how doctors treated children with similar conditions.
- Built by artificial intelligence based on millions of users and thousands of pediatricians
Pediatricians at one’s fingertips – no insurance needed
- Children can get pediatric care for free with an adult membership ($9 per month, unlimited care)
- One-time visits are only $19
- K for Parents brings world leading pediatricians Dr. David Shafran from the Cleveland Clinic and Dr. Chelsea Johnson from Children’s Mercy Hospital to lead the program
Cost and access are the most significant barriers to parents getting care for their children. In a survey of 2,200 parents in the U.S. conducted by K Health, 83% of parents said they worry for days or weeks before reaching out to a doctor, and nearly 20% of parents use social media or a search engine for medical advice. K for Parents launches at a time when parents are under unprecedented levels of stress, struggling with work, the cost of insurance, and remote school during the pandemic.
“It’s impressive to see the pace at which K Health is expanding to translate decades of rich data and doctor experience to meet families where they are,” said Gracias, Valor Equity Partners’ Founder and CEO. “We believe that K Health will be game changing for families while also improving the broader health care system to enable faster, more efficient, and more seamless resolution of primary care concerns.”
“K Health is changing the equation of access to high quality medicine,” said Allon Bloch, CEO & co-founder of K Health. “Our system opens access to the best doctors at a fraction of the cost and without the wait. This new funding and expansion to care for the whole family gives more people the break they need today.”
As part of its mission toward building a global system for better medicine and access to treatment, K Health announced a collaboration with Mayo Clinic through the Mayo Clinic Platform in November 2020. The joint work focuses on improving and accelerating the deployment of virtual care models to improve health outcomes. The company also has a partnership with Maccabi Healthcare Services, Israel’s second largest HMO with 2.4 million members; as well as Anthem, to offer K Health to its 43 million members.
To learn more about K Health, visit: www.khealth.ai
About K Health
K Health, headquartered in New York, is the digital primary care service on a mission to connect the world’s health data to give people the fastest, smartest, most convenient solution to getting remote treatment whenever they need it. K Health allows users to understand how doctors diagnose and treat similar people (aka “People Like Me”) with similar symptoms and conditions for free, chat with a doctor for less than a copay, and retain a history of their own medical records. K Health has created a data-driven platform that consolidates the knowledge of thousands of doctors and billions of clinical data insights to help people seek answers or treatment without hesitation. K Health covers almost all primary care conditions as well as anxiety and depression with customizable treatment plans.
Frequently the #1 downloaded app in the App Store’s medical category, K is available in all 50 states, and K Primary Care, the option to chat with a doctor, is available in 49 states, covering 300 million people. K Health has also been peer reviewed in research journals, including the Journal of Medical Internet Research.
For more information, please visit www.KHealth.ai
Moxie Communications Group