Chicago-based VillageMD has landed a big round of funding to grow its data and technology platform for doctors.
VillageMD announced Thursday that it has raised $80 million in funding led by Athyrium Capital Management, a New York-based investor in healthcare companies. VillageMD, which launched in 2013, has now raised $116 million in funding. It previously raised a $36 million Series A in 2015.
VillageMD partners with primary care providers to help them cut costs and deliver better patient outcomes. The startup provides doctors with data analytics, physician-based care coordination, and on-the-ground support resources to improve the quality of care.
VillageMD says it now works with 2,500 primary care physician partners across six states. The startup said it will use the funding to expand into more markets and invest in its technology.
“Our partnership with Athyrium represents an important next step in the history of VillageMD,” VillageMD CEO Tim Barry said in a statement. “While we are happy with the growth we have experienced in the last four years and expect continued growth in the future, we are most proud of the clinical and financial results we have been able to achieve with our primary care partners.”
VillageMD was founded by healthcare veterans Tim Barry and Clive Fields. Last February VillageMD added Zeke Emanuel, Rahm Emanuel’s brother, to its board of directors.
VillageMD’s funding follows a string of large venture capital raises by Chicago tech companies in 2017. Uptake raised $117 million in November, Tempus raised $70 million in September, and Raise landed $60 million, also in September.