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KeyCare, a virtual care platform built on the Epic EHR, has secured a $27.4 million investment in a round led by HealthX Ventures, bringing its total raise to more than $55 million.
8VC, LRVHealth, BOLD Capital Partners and Ikigai Venture Partners also participated in the round, as did strategic partners WellSpan Health, Allina Health, University of Chicago Ventures, Edge Ventures and Exact Sciences.
WHAT IT DOES
KeyCare is an Epic-based virtual care partner that offers health systems a network of independent virtual providers across primary care, behavioral health and urgent care. The company's offering is tailored for Epic-integrated health systems.
The company will use the funds to scale its operations and expand its virtual care model, including deepening investments in its AI-enabled technology.
"Access is one of the defining challenges in healthcare," Sulabh Agarwal, CEO of KeyCare, said in a statement. "Health systems are under pressure to deliver timely care, but the infrastructure wasn’t designed for how patients actually seek care today. This funding allows us to continue building a tech-first, coordinated virtual care model that works within the existing healthcare ecosystem, not around it."
MARKET SNAPSHOT
In 2024, KeyCare announced exclusively to MobiHealthNews that it was partnering with the virtual psychiatry and therapy platform Array Behavioral Care to enable Array's providers to access patients' health records across the continuum of care, optimizing individual outcomes based on each patient's needs.
The company has also partnered with North Central Washington healthcare system Confluence Health, Minnesota-based health system CentraCare, Pennsylvania-based integrated healthcare system WellSpan Health and Deaconess Health System, which serves Indiana, Illinois and Kentucky.
In 2022, KeyCare secured $24 million in Series A funding and a year later announced an additional $3 million in Series A investment, bringing its total Series A raise to $27 million.
