The Growth of the Business
Dedi Gilad, co-founder and CEO of TytoCare, said the COVID-19 pandemic had accelerated the growth of his remote AI healthcare startup company.
“TytoCare was on a strong growth trajectory long before COVID-19, and last year we experienced even more immense growth amidst surging demand,” he said in a statement. “The pandemic significantly accelerated telehealth awareness, adoption, and utilization worldwide, and current advances in AI-powered home-based clinical diagnoses are making virtual care even more personalized and effective for a wider population, as well as more use cases.”
The AI remote healthcare startup company recently raised $50 million in a Series D funding round led by Insight Partners with contributions from Tiger Global Management, Qumra Capital, Qualcomm Ventures, Olive Tree Ventures, and Shenzhen Capital Group Company. The most recent funding round brings the total funding for the AI startup business to over $150 million.
Jeff Horing, co-founder and managing director of Insight Partners, said his venture business invested in the AI remote healthcare startup business because of its capabilities, which he said were unique in the remote healthcare startup industry.
“TytoCare sets itself apart in the telehealth market by providing patients, clinicians, and healthcare organizations worldwide with a unique end-to-end solution that goes far beyond the average video visit, with clinic-quality examinations and AI-powered diagnostic capabilities,” Horing said.
The Remote Healthcare Business
In the remote healthcare industry, which grew some 80% in 2019 and is growing at a stellar compounded annual rate of nearly 30%, TytoCare stands to gain quite a bit for its AI healthcare startup company.
Gilad said his AI-powered startup was doing important work.
“In the past year we witnessed the dramatic acceleration of telehealth worldwide and have seen healthcare systems, insurers, and patients increasingly adopt TytoCare’s unique solution. We are constantly innovating and developing new AI-powered telehealth solutions that will continue to transform primary care by putting healthcare further in the hands of consumers.”
About the Author
Elijah Labby is a graduate of the National Journalism Center. He has previously written for Broadband Breakfast, a technology and internet policy website.