MedArrive, a care management platform that integrates telehealth and in-person care, announced an $8 million strategic investment from Cobalt Ventures, Blue Cross and Blue Shield of Kansas City. The round brought the company’s total revenue to $40.5 million. What they do MedArrive offers a network of providers, including paramedics, EMTs and other healthcare providers who visit patients on behalf of their health insurance plan, provide home healthcare services, diagnoses, health assessments and preventive health measures. The company helps with transportation, nutrition and movement. With the new investment, the company will increase its work with payers, grow its team, build its platform and expand into new markets. Market Snapshot In 2021, MedArrive secured $25 million in Series A funding, joining several companies that invested that year. However, the venture funding decreased in 2022. Dan Trigub, CEO and founder of MedArrive, explained the year’s complicated financial situation to MobiHealthNews in December. “This year’s funding environment has quickly separated the ‘good’ from the ‘bad,’ which means businesses built on day one with poor unit economics won’t survive. It’s also forced companies to look for other funding options, such as venture debt or taking a round. Executive teams are more diligent with capital.” They were planning for the worst,” Trigub said. That same month, MedArrive announced plans to partner with Texas-based Advanced HealthPlan and virtual mental health company Brave Health to provide Texans with access to home health care, virtual behavioral health services and telehealth. Last month, the telecare company announced a partnership with maternal telehealth platform Ouma Health to scale maternal and in-home care delivery for women on Medicaid.
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