Virtual care provider Conversa raises $12M as investors bet big on digital health startups

The latest digital health company to land funding is Conversa, a Portland, Ore.-based telehealth startup that announced a $12 million Series B round.

Founded in 2014, Conversa sells various platforms that allow care teams to communicate with patients virtually. The platforms are each tailored to different conditions, including asthma, congestive heart failure, diabetes, joint replacement, and more.

Conversa this year released a suite of COVID-19 virtual care programs being used by health systems across the U.S. The company is also working with employers who need help checking on the health of employees.

“I’ve long said virtual health is inevitable, but it will likely require a catalyst to get it to the tipping point. Unfortunately, COVID-19 is that catalyst,” said Conversa CEO Murray Brozinsky, who was just promoted to CEO. “The pandemic has laid bare the vulnerabilities of our health system. Conversa addresses many of these: access, capacity, provider burnout and cost.”

Builders VC and Northwell Ventures co-led the round. P5 Health Ventures, Nassau Street Ventures, and UH Ventures also participated. Total funding is more than $26 million to date.

Conversa is one of several telemedicine companies attracting investor attention amid the global pandemic and social distancing orders. Venture capital funding in the sector rose 258% year-over-year to $788 million in the first quarter, FierceHealthcare reported. Other Pacific Northwest healthtech startups including 98point6, MDMetrix, and Bright.md also raised funding in recent months.

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