Sesame Raises An Additional $24M To Build The Future Of Direct Pay Healthcare
04/27/21, 1:32 PM
Money raised
$24 million
Sesame, the direct-pay healthcare marketplace, announced today that it has raised an additional $24 million, including new investments from Giant Ventures, Industry Ventures and Coefficient Capital. Existing investors General Catalyst, Entree Capital, and Atreides Management have also contributed additional funds to help Sesame scale. The latest funding brings Sesame’s total capital raised to just under $50 million since its founding in 2019.
Company Info
Additional Info
The startup claims that it is able to lower the price of healthcare by cutting out the bureaucracy and rules associated with health insurance and giving consumers a way to access physicians — including specialists — on a pay-per-visit basis. Another advantage for consumers, the company says, is that they have the ability to be treated virtually — and in some locales, in person — for a price that is provided upfront with no surprises later. The company claims to offer “complete, longitudinal health care,” including primary care, acute consults and chronic care management, 40-some specialties, dentistry, labs and imaging. Unlike other telehealth offerings that are predominantly membership-based such as One Medical, Sesame does not require a membership to be seen but members do get a discount on visits and services, the company says, as well as other benefits. The startup also differs from One Medical in that it offers access to specialties, whereas the latter is focused on primary care. The firm did not comment when asked if it viewed Sesame and One Medical as competitors. The startup will use its new capital primarily to transition its membership product from beta into general availability. New York City-based Sesame is a two-sided marketplace populated by physicians and patients only. Sesame is a “true marketplace,” he said, in that physicians and providers work for themselves. Cathy Friedman, executive venture partner at GV, told TechCrunch via e-mail that GV’s life sciences team aims to invest in companies that improve lives and patient outcomes, and that she believes that Sesame’s “approach to more accessible and affordable healthcare is compelling.”“Sesame will help drive better health outcomes for a meaningful percentage of historically underserved populations by connecting patients to high-quality, low-cost in-person and virtual care,” she said.