Sprinter Health scores $33M for its in-home lab service

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On-demand, in-home care company Sprinter Health raised $33 million in Series A funding.

The round was led by Andreessen Horowitz, with participation from investors including General Catalyst, Accel and Google Ventures. Angel investors include DoorDash cofounder and CEO Tony Xu and former Senator Bill Frist.

WHAT IT DOES

Sprinter sends nurses and phlebotomists to conduct blood draws, vitals checks and COVID-19 tests in the home. Patients can book appointments through an app and receive notifications when the provider is on the way.

“People put off healthcare for all sorts of reasons – they think they’re healthy, they can’t find time within their busy schedules, they’re uncertain about the cost, or they may even be afraid to find out that something might be wrong,” Sprinter cofounder and CEO Max Cohen said in a statement.

“We’ve built a system that makes getting your blood drawn, vitals checked, or a COVID-19 test as efficient, modern and pleasant as it possibly could be, reducing barriers to people getting necessary care.”

WHAT IT’S FOR

Sprinter plans to partner with specialty labs, insurers, providers and employers for its service. 

The company currently operates in the San Francisco Bay Area and Sacramento, but it plans to expand to Los Angeles and San Diego by the end of the year. Sprinter plans on offering its services in Texas and Florida in 2022.

MARKET SNAPSHOT

More healthcare services became available at home during the pandemic, with telehealth utilization seeing massive growth between August 2019 and August 2020. Though utilization has slowed this year, some stakeholders and providers argue a hybrid model is the future of healthcare delivery.

Senior care is a popular area for in-home care, especially as more older adults say they want to age in place. Retail giant Best Buy announced yesterday it had signed an agreement to acquire home care and remote monitoring platform Current Health, building on previous purchases and investments in the senior care space.

Amazon is also pushing into at-home monitoring, launching the Alexa Together service last month that allows caregivers to assist and check in on family members. 

Home and senior care platform Honor recently scored unicorn status with a valuation of $1.25 billion after announcing it had raised $70 million in Series E funding and $300 million in debt financing.

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