Denver-based telemedicine startup CirrusMD, which focuses on a text-first approach to virtual visits for large health systems and payers, has closed on $7 million in Series A funding led by Colorado Impact Fund. Bootstrap Incubation, Three Leaf Ventures, Rockies Venture Fund, Service Provider Capital, Sand Hill Angels, and New York Angels also contributed. The company last raised money in March 2016, and the latest funding brings its total to date at least $8 million.
While CirrusMD’s platform includes video visits, every interaction starts with texting. In under a minute, users can expect to reach an affiliated doctor via text within a minute, and the physician will then quickly assess the situation and either treat them virtually or guide them towards the appropriate in-network care.
CirrusMD has partnerships in 44 states, but rather than leveraging the entire national network for any given patient, the company focuses on extending the reach of local care by helping healthcare organizations put their own doctors on the platform so a patient isn’t consulting with a doctor across the country.
“Five years ago, we set out to execute on the vision of my co-founder, Dr. Blake McKinney, to provide patients with instant, ongoing access to in-system doctors through secure text messaging. Our approach is proven to significantly lower total cost of care,” CirrusMD CEO and co-founder Andrew Altorfer said in a statement.“We are pleased with the support of our investors at this critical inflection point in telemedicine. Health systems and payers are looking for virtual care solutions that effectively engage patients and integrate provider workflows. CirrusMD is primed for rapid growth due to our ability to deliver value for our partners.”
Since the company’s founding five years ago, CirrusMD lists 1.3 million patients with access to the platform, which represents an 850 percent growth since last year. With the latest funding, the company plans to expand sales, marketing, customer support resources and further innovate on their platform and data analytics.
"The Colorado Impact Fund is proud to select CirrusMD as our first investment in the expanding digital health landscape in Colorado,” Colorado Impact Fund Partner Ryan Kirkpatrick said in a statement. “CirrusMD’s virtual care platform lowers the cost of delivering health care while simultaneously increasing access to quality care in Colorado and beyond, both key criteria of our impact strategy in the industry. The founders, Andy Altorfer and Dr. Blake McKinney, have developed a differentiated platform that can scale rapidly and deliver value to all stakeholders of the healthcare system.”