Sollis Health Secures $33 Million Series B Funding for Nationwide Expansion

Deal News | Dec 06, 2024 | Torch Capital Management LLC

Sollis Health Secures $33 Million Series B Funding for Nationwide Expansion

Sollis Health, a pioneer in concierge medical services offering 24/7 access to emergency diagnostics, has announced the completion of a $33 million Series B funding round. This round was spearheaded by Foresite Capital, with additional contributions from investors like Torch Capital and Montage Ventures. The investment aims to bolster Sollis Health's market reach in the U.S., emphasizing new clinic openings in regions such as Silicon Valley, Miami, and Texas. Since raising its Series A funding in 2021, Sollis Health has tripled its membership, indicating a significant demand for its unique, high-touch healthcare model. The funding will support the enhancement of core services, allow for product innovations, and improve the member experience. Furthermore, the funds will help Sollis develop proprietary technology to refine its service offerings. With this backing, Sollis seeks to maintain its leadership as an urgent and emergency care provider, promising continued innovation and service expansion.

Sectors

  • Healthcare
  • Investment

Geography

  • United States – Sollis Health's expansion and the participating investment firms are mainly focused in the United States, with new clinics planned in various states.

Industry

  • Healthcare – Sollis Health operates in the healthcare industry as it provides personalized, concierge medical services to its members.
  • Investment – The involvement of multiple investment firms in the Series B funding round situates the article within the investment sector.

Financials

  • $33 million – This is the total amount raised by Sollis Health in its Series B funding round.

Participants

NameRoleTypeDescription
Sollis HealthTarget CompanyCompanyA concierge medicine provider known for offering 24/7 access to emergency diagnostic services.
Foresite CapitalLead InvestorCompanyA healthcare and life sciences investment firm leading the Series B funding round for Sollis Health.
Torch CapitalInvestorCompanyAn investment firm participating in the Series B funding round for Sollis Health.
Montage VenturesInvestorCompanyA venture capital firm participating in the Series B funding round for Sollis Health.
Friedom PartnersInvestorCompanyAn investment group taking part in the Series B funding for Sollis Health.
Read CapitalInvestorCompanyOne of the investors in the Series B funding round for Sollis Health.
One Eight CapitalInvestorCompanyParticipating as an investor in the Series B funding round for Sollis Health.
Stephen PetersonPartner at Foresite CapitalPersonQuoted as expressing confidence in Sollis Health's vision for transforming healthcare experience.
Brad OlsonCEO of Sollis HealthPersonCEO addressing the impact of the funding and future plans for Sollis Health.