TytoCare, a NYC-based healthcare industry’s modular device and telehealth platform for AI-powered, on-demand remote medical examinations, raised $50M in a Series D extension round. This funding follows the $50M round raised in April 2020.
The extension round, which brought total funding raised to date to $155M, was led by Insight Partners with participation from new growth investors Tiger Global Management and Qumra Capital and existing investors Qualcomm Ventures LLC, Olive Tree Ventures, and Shenzhen Capital Group Company.
The company intends to use the funds to continue to expand the availability of its full-stack telehealth and remote examination platform throughout the U.S., Europe, and Asia, and the global healthcare payer market, and introduce new advanced product capabilities including AI and machine learning-based home diagnostics solutions and other patented technologies, following its recently launched AI-powered diagnostic support solution.
Co-founded by Dedi Gilad and Ofer Tzadik in 2012, TytoCare is a telehealth company using AI to connect people to clinicians to provide virtual home examination and diagnosis solutions. Its solutions are designed to enable a comprehensive medical exam from any location and include a hand-held, all-in-one tool for examining the heart, lungs, skin, ears, throat, abdomen, and body temperature; a complete telehealth platform for sharing exam data, conducting live 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 for patients and insights for healthcare providers.
The company, which has FDA and CE clearances, has partnered with over 150 health organizations and insurers worldwide, with more than 6,000 clinicians currently using the telehealth solution.