Forward Health Raises Massive Series D Funding as Startup Looks to Change Healthcare

By Thomas Price Thursday, March 11, 2021

As the mounting costs of healthcare continue to add up, many consumers are looking to find an alternative to their current primary care providers and insurance companies. This became especially prevalent as the COVID-19 pandemic put this at the forefront of many people’s minds. Forward Health is a startup company looking to actively change how patients view primary care, offering a complete option that works on a science-based approach. The startup recently raised a massive amount of funding in their Series D round, as enthusiasm for the business model grows.

Doctor treating a patient.

How Forward Health Works

Forward Health is a startup that is looking to replace the need for primary care health insurance by offering its own doctors, technology, and locations. Instead of paying for health insurance every month, customers of the healthcare company instead pay a monthly fee that would cover basic primary care directly from Forward Health. One of the largest differences with this approach is that the startup offers its monthly membership at only a flat fee instead of charging patients for any tests or care.

The healthcare startup can work on this business model due to focusing the care heavily on preventative measures, offering more comprehensive screenings and coverage in this area to help reduce the risk of more expensive treatments down the line.

In fact, the startup offers all basic primary care options but also includes virtual visits, a 24/7 hotline, instant blood results, as well as a series of preventative screenings. These screenings offered by the company include skin cancer screenings, genetic testing, heart monitoring, nutrition plans, mental health checkups, and other doctor-led programs.

Forward Health’s preventative-first business approach has proven to be incredibly successful already with the healthcare company expanding to operate business locations in several cities across the United States (US), including San Francisco, New York City, Los Angeles, Chicago, and Washington DC.

Forward Health’s Funding and Future Plans

In Forward Health’s Series D funding round, the company raised a whopping $225 million. The startup raised this money from a variety of investors including Founders Fund, Khosla Ventures, SoftBank, and musician The Weeknd. The company plans to use this new funding in order to expand its business operations across the US. There are also plans by the company to improve and add additional features to the virtual side of its business in order to offer more comprehensive care outside of the physical locations.

While the healthcare company continues to scale up, it will mainly focus on finding areas of preventative care that overlap in several different categories to reduce business costs as best as possible while growing. Forward Health will further their own development through reinvesting in the technology which has brought them this far.

About the Author

Headshot of Thomas Price

Tom Price is a writer focusing on entertainment and sports features. He has a degree from NYU in English with a minor in Creative Writing. He has been previously published for Washington Square News, Dignitas, CBR, and Numbers on the Boards.

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