Sprinter Health Secures $55M Series B for At-Home Healthcare Expansion

Sprinter Health Raises $55M to Expand At-Home Healthcare Services

Sprinter Health, a provider of at-home healthcare services, has announced a $55 million Series B funding round led by General Catalyst. Andreessen Horowitz and other existing investors, including the Regents of the University of California, Google Ventures, and Accel, also participated. This brings Sprinter Health's total funding to $125 million.

Founded by Max Cohen and Cameron Behar, Sprinter Health addresses the growing need for accessible healthcare services. The company offers at-home preventative services such as blood draws, diabetes eye checks, and colorectal cancer screenings. Their goal is to improve healthcare access and engagement, particularly for patients who haven't consistently utilized the healthcare system.

Rapid Growth and Expansion

Sprinter Health has experienced significant growth, expanding its operations to 18 states and achieving a six-fold revenue increase in the past year. This rapid expansion demonstrates the increasing demand for convenient and accessible healthcare options.

Tech-Driven Logistics for Efficient Care

The company attributes its success to its proprietary technology platform. This system optimizes routes and schedules for its clinical professionals, phlebotomists cross-trained as medical assistants, and community health workers, allowing them to serve more patients efficiently.

We need to make sure that our employees are spending as much time as possible serving patients rather than driving.

— Max Cohen, Co-founder, Sprinter Health

The route simulator considers variables like traffic, weather, and parking, enabling staff to serve up to 12 patients daily.

Investor Confidence in Sustainable Model

There have been many home-based care companies that have failed because it’s really hard to make the unit economics work when you are deploying humans into the field. Unless you have very tight operating systems, it’s really hard to build a business that can be sustainable and durable over time.

— Julie Yoo, General Partner, Andreessen Horowitz

Julie Yoo, a board member at Sprinter Health, compared the company's business model to that of Instacart and DoorDash, emphasizing the importance of efficient logistics for achieving strong gross margins.

Accessibility Through Insurance Partnerships

Sprinter Health's services are free to members of its health insurance partners, which include Medicare and Medicaid, further enhancing accessibility to essential preventative care.

With this new funding, Sprinter Health plans to continue expanding its services and reach, bringing convenient and crucial healthcare services directly to patients' homes.