Tyto Care Extends Series C Funding to Add Key Strategic Partnerships, Bringing Total Funds Raised to $33.5M
NEW YORK, Jan. 16, 2019
NEW YORK, Jan. 16, 2019 /PRNewswire/ -- Tyto Care, an innovative telehealth company enabling live telehealth visits and comprehensive medical examinations, today announced that it has closed $9M in additional funding from strategic investors including Sanford Health, Itochu and Shenzhen Capital Group (and its affiliates). The additional funding is an expansion of Tyto Care's quickly oversubscribed 2018 round led by Ping An Global Voyager Fund, leading Tyto to extend the round to include new strategic investors. This brings the total funds raised in Series C to $33.5M.
The additional funding recognizes the unique potential of Tyto Care's on-demand, remote telehealth solution to improve healthcare access and delivery in the US, Japan and China. As these dense populations continue to age, improving healthcare is a critical priority. Enabling remote examinations and telehealth visits is also crucial due to the large number of rural US, Chinese and Japanese communities with limited access to clinicians and specialists.
Following its FDA clearance, the launch of its product in the United States in 2017 and its CE Mark and Health Canada approval in 2018, Tyto Care has gained significant traction with major health systems, telehealth companies, large private practices and employers. The additional funding will further enable Tyto's growth initiatives and global expansion plans as the company continues to expand with leading US partners and penetrate new markets beyond North America, including Asian and European markets.
"These strategic partnerships will enable us to gain further momentum and accelerate our growth, deepening our foothold in the US and other new strategic markets," said Dedi Gilad, CEO and Co-Founder of Tyto Care. "This additional funding is a testament to the value of telehealth in the digital age, further enabling our unique solution to bring the best of remote, on-demand virtual care to consumers around the world."
"Tyto Care's mission of making high-quality healthcare accessible from the comfort of home is crucial, especially in China. We believe that telehealth will significantly improve the lives of Chinese consumers, whether they are parents with sick children at home, elderly patients facing chronic illnesses, or citizens living in remote areas with less access to medical care," said Chairman Zewang Ni of Shenzhen Capital Group. "We are delighted to be joining Tyto Care as our partner as the company makes its way into the Asian market and beyond."
About Tyto Care
Tyto Care is transforming primary care by putting health in the hands of consumers. The company seamlessly connects people to clinicians to provide the best virtual home examination and diagnosis solutions.
Tyto Care's solutions are designed to enable a comprehensive medical exam from any location and include a hand-held modular tool for examining the heart, lungs, skin, throat, ears, and body temperature; a complete telehealth platform for sharing exam data, conducting video exams and scheduling visits; a cloud-based data repository with analytics; and built-in guidance technology and machine learning algorithms to ensure accuracy and ease of use. The Tyto platform also allows for simple integration with EHR electronic health records systems and other telehealth platforms. To watch a demo video, click here.
For more information please visit www.tytocare.com.
SOURCE Tyto Care