Carbon Health Bags USD 30M Funding


Carbon Health, a San Francisco-based startup has acquired USD 30 million in a Series B funding course led by Brookfield Growth Partners, the technology investing division of Brookfield Asset Management, an asset management company focused on renewable power, real estate, infrastructure, and private equity.
Other members in the round involved DCVC, founders from Flatiron Health and Clover Health, Javelin Venture Partners, Builders VC, Bullpen Capital, and Two Sigma Ventures. Josh Raffaelli, managing director at Brookfield Growth Partners, has also participated in Carbon’s board of directors as part of the transaction.
Carbon’s strategy combines pragmatic care with in-person care at hospitals. Via its mobile app, patients can observe their health records, set up meetings, tender payments or manage a video visit for conditions like diseases, sinus infections, high blood pressure, bronchitis or back pain. Patients can also get healed for specific indications such as cold sores, poison ivy, and eczema by texting the Carbon providers in the app. Both kinds of virtual appointments (video and message-based) are only presently available in California.
In the matter of in-person care, the startup has seven dispensaries in the Bay Area. Relying on the location, patients can obtain primary care, critical care, and orthopedics assistance.
Carbon Health does not impose a membership fee. It exercises a variety of insurance policies, though it doesn’t receive Kaiser or Medi-Cal. Patients can also repay out of pocket for services.
With the latest USD 30 million, the San Francisco company aims to expand its presence beyond California and the rest of the country. Carbon Health CEO Eren Bali announced the company has 15 supplementary clinics already in the wings with plans to surmount up to 40 or 50 locations in next couple years.
Brookfield’s sponsorship of Carbon Health provides comprehensive real estate and retail competence as the healthcare company views to grow its presence nationwide. Brookfield has lately taken a stronger position in the health, acquiring major Australian hospital chain Healthscope in a USD 4.1 billion deal beginning this year.