The investment round, led by Fulcrum Equity Partners, affirms commitment to VisuWell’s expansion and acceleration within the telehealth space
VisuWell, an industry leader in the delivery of innovative, virtual care solutions, today announced it has completed a successful $10 million Series B capital raise led by Fulcrum Equity Partners, an Atlanta-based growth equity firm, with continued participation from existing investors, Longmeadow Capital, PJC, and UltraGroup.
The funding will help the company scale across all departments to support the expansion of its virtual care platform and empower the company to deliver new product offerings to meet market demand. VisuWell will expand its white-labeled platform of telemedicine, virtual triaging, asynchronous visits, and deeper, bi-directional EMR integrations.
“We’re excited to partner with Fulcrum, who has an excellent track record of funding high-growth companies in healthcare. This round will drive VisuWell’s virtual care platform, digital triage, and analytics products,” said Gerry Andrady, VisuWell CEO. “There is a growing gap between what our customers and patients need and what today’s telehealth solutions offer. There is a demand for intelligent solutions that don’t just connect providers and patients on video but help accelerate care by leveraging existing information in the EMR, connecting devices, and getting patients to the right setting of care online. A simple Zoom meeting just isn’t good enough anymore.”
VisuWell already began putting the capital to work, launching a new virtual urgent care solution. With hospitals battling overcrowded Emergency Departments, the application is designed to digitally triage and route low-acuity patients to virtual urgent care instead. In its initial deployment with a mid-west health system, VisuWell has connected thousands of patients to providers, 22% of whom reported they would have gone to the Emergency Department or not received care at all.
“The explosion in demand for telemedicine has been a catalyst for accelerated growth of virtual care solutions and has sparked a growing need for hospital systems to offer proven digital health platforms to care for all of their patients,”said Jeff Muir of Fulcrum Equity Partners. “VisuWell has emerged as a leader in redefining how – and where – healthcare is delivered. We are very impressed with Gerry and the team and thrilled to partner with them as they continue to scale their solution and drive meaningful change in digital healthcare.”
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