VillageMD, a Chicago, IL-based national provider of primary care, raised $100m in Series B funding.
The round was led by Kinnevik AB with $75m, with participation from returning backer Oak HC/FT and new investors Town Hall Ventures and Adams Street Partners. In conjunction with the funding, Chris Bischoff, senior investment director at Kinnevik, will join VillageMD’s board of directors.
The company intends to use the funds to:
– expand its primary care presence in existing and new markets,
– enhance docOS, its primary care platform,
– grow its Village Medical brand, and
– scale its Village Medical at Home offering.
Led by Tim Barry, CEO and co-founder, VillageMD is a provider of healthcare for of tools, technology, operations, and staffing support needed for physicians to drive quality clinical results across a population. The company currently partners with more than 2,500 primary care physician groups, independent practice associations, and health systems and manages $3 billion of total medical spend in value-based contracts.