Telehealth firm 98point6 nets $50M in round led by Goldman Sachs

Close-up of video conference with smiling male doctor on smartphone
The company projects its subscription service will be available in all 50 states by early next year. (Getty Images/AndreyPopov)

98point6, a digital health company that makes primary care doctors available to patients over cellphone messages, raised $50 million in a new financing round led by Goldman Sachs.

Its platform uses artificial intelligence to automate the tasks that don’t require direct physician interaction, such as gathering information on symptoms, before turning the conversation over to a doctor for a diagnosis or to answer health questions. The app also maintains a care plan alongside ordered prescriptions and lab tests.

The series C round brings the Seattle-based company’s total venture capital funding to $86.1 million since it was founded in 2015. Goldman Sachs’ merchant banking division anchored the latest round with support from returning, unnamed investors.

“We set out to make primary care accessible and affordable for everyone, to address a crisis in America that has led to nearly one-fifth of the population not having a relationship with primary care,” CEO and Co-founder Robbie Cape said in a statement.

The company plans to use the proceeds to build out its product development and physician teams, as well as expand the capabilities of its platform, which is currently available in 40 states and the District of Columbia. 98point6 projects its subscription service will be available in all 50 states by early next year.

“Primary care is the main entry point for individuals into an increasingly complex healthcare system, making it the ideal setting for providing patient education, encouraging preventive care and controlling downstream costs,” said Jo Natauri, global head of healthcare investing for the Goldman Sachs division.

The funding will also help the company expand into new markets including health plans, health systems and higher education. To date, 98point6 has contracted with 27 companies to provide its services to their employees, and it hopes to have 100,000 members through their employers by the end of the year. Its annual subscription is also available directly to adult consumers.