Heal Revenue, Valuation, Funding & Investors
Heal is valued at $300M as of July 2020, a 10.7x multiple on its last reported $28M revenue.
Last Heal valuation
$300M
Series D · Jul 2020
Last Heal funding round
$100M
Series D · Jul 2020
Heal revenue
$28M
Series D · Jul 2020
Key investors in Heal
Lionel Richie
Slow Ventures
Breyer Capital
Pritzker Group Venture Capital
March Capital
Capital Union Investments
About Heal
Heal is a Santa Monica-based telehealth company offering in-home doctor house calls alongside virtual visits, combining a mobile app with backend administrative and telehealth support to reduce costs and inefficiencies in primary care. Physicians visit patients at home for a flat fee or insurance co-pay, working with major insurers including Blue Shield, Anthem Blue Cross, Cigna, Aetna, and United Healthcare. Founded in 2015, the company expanded from house-call coordination into telehealth follow-ups and telepsychology across multiple U.S. markets.
Founded
2014
HQ
United StatesWebsite
Status
Privately held
Customer focus
B2C
Revenue model
Services
Revenue
$28M (Jul 2020)
Valuation
$300M (Jul 2020)
Heal Valuation
Heal is currently valued at $300M, based on its Series D in July 2020.
The $100M round was led by Humana Inc., with participation from Castor Ventures.
Heal's valuation has grown 2.7x from $110M at its Series A in October 2016 to $300M in July 2020, across 2 priced rounds.
Heal valuation by funding round
Revenue multiple| Date | Stage | Valuation | Revenue Multiple |
|---|---|---|---|
| Jul 2020 | Series D | $300M | 10.7x |
| Oct 2016 | Series A | $110M | - |
Heal Revenue
Heal's latest recorded revenue is $28M, as of its Series D in July 2020. At a $300M valuation, that implies a 10.7x revenue multiple.
Heal revenue by funding round
| Date | Revenue * | Valuation | Revenue Multiple | Stage |
|---|---|---|---|---|
| Jul 2020 | $28M | $300M | 10.7x | Series D |
* Revenue (or ARR) figures are the values recorded alongside each funding round. Typically run-rate revenue at the time of the deal, or a reported LTM (last 12 months) revenue.
Heal Funding History
Heal has raised a total of $168M across 6 funding rounds.
Heal's first fundraising round was a $2M seed round in October 2014. The most recent completed round was a $100M Series D in July 2020.
Heal funding rounds
| Date | Stage | Investors | Raised | Valuation | Deal Summary |
|---|---|---|---|---|---|
| Jul 2020 | Series D | Humana Inc. (lead); Castor Ventures | $100M | $300M | Heal is a Santa Monica-based telehealth startup founded five years prior to 2020, specializing in doctor house calls and virtual visits, combining automated tech services with a mobile app to reduce inefficiencies and costs in primary healthcare. The company announced a $100 million Series D strategic funding round on July 29, 2020, led by Humana Inc., with participation from Castor Ventures, valuing the company at $300 million post-money. This round brought Heal's total funding to $170 million across nine rounds as of that time. The investment aligned the interests of Heal and Humana, enabling Heal to deliver home care services to Humana members while leveraging Humana's network for expansion. Heal planned to use the funds to grow its doctor house call and virtual appointment services into new markets including Chicago, Houston, and Charlotte, amid surging demand during the COVID-19 pandemic. CEO Nick Desai noted the deal was in progress before the pandemic but finalized virtually due to travel restrictions starting in late February 2020. Heal's service had evolved from a house call coordination app to include backend administrative support, telehealth follow-ups, and telepsychology. The strategic partnership with Humana provided not only capital but also access to expertise and an expanded customer base. Heal was later acquired on September 23, 2023. |
| May 2018 | Series C | Breyer Capital; Inflection Capital; RLJ Equity Partners; Bascom Ventures; Paul E. Jacobs; IRA Capital; Alumni Ventures; Trans-Pacific Technology Fund (TPTF); Lionel Richie; Fidelity Contrafund; Counterpart Advisors | $20M | - | Heal is a mobile healthcare company that raised funding across multiple rounds. The company's valuation was $300M as of July 2020 in a Series D round, representing its valuation trajectory over time. Heal subsequently was acquired on September 23, 2023. |
| Dec 2016 | Series B | Fidelity (lead) | $15M | - | - |
| Oct 2016 | Series A | Tull Investment Group (lead); Breyer Capital; Jeff Seibert; Qualcomm; Chang Corporation; Capital Union Investments; Slow Ventures; David Ellison; J.A.S Ventures; Wayne Chang; Thomas Tull; HashtagOne | $27M | $110M | Heal is a Los Angeles-based doctor house call app that provides on-demand in-home medical visits by board-certified physicians throughout California, charging a flat fee of $99 or insurance co-pays, available seven days a week from 8 AM to 8 PM. The service aims to deliver more effective care by allowing doctors to assess patients in their home environment, reducing inefficiencies compared to traditional clinics where doctors see around 40 patients daily versus Heal's 15. Launched in 2015, Heal had already served over 10,000 patients by October 2016 and accepts major insurers like Blue Shield, Anthem Blue Cross, Cigna, Aetna, and United Healthcare. On October 18, 2016, Heal raised $26.9 million in a Series A round led by Tull Investment Group, with participation from Breyer Capital, Hashtag One, Slow Ventures, Qualcomm Executive Chairman Paul Jacobs, Skydance Media CEO David Ellison, and others including Capital Union Investments, Chang Corporation, J.A.S Ventures, Jeff Seibert, and Wayne Chang. This brought total funding to $40 million. Post-money valuation reached $110 million after the round. Proceeds were allocated to expand beyond California (targeting markets like Texas, Chicago, Pittsburgh, and Detroit), enhance the technology platform, boost marketing, and grow the physician roster from 12 full-time doctors toward 30 by early 2017. Heal differentiates by automating administrative tasks to cut costs and improve outcomes, such as better prescription adherence through home visits. Investors like Jim Breyer backed the model due to lead investor Thomas Tull's involvement, emphasizing its potential in underserved primary care markets, especially where telemedicine faces restrictions. The company focused on families, particularly adults aged 32-48 with young children, often treating multiple household members per visit. Subsequent rounds included a $100 million Series D in July 2020 from Humana at $300 million valuation, expanding to new markets like Chicago, Houston, and Charlotte amid rising demand, culminating in an acquisition on September 23, 2023. Heal raised $170 million total across nine rounds with 24 investors. |
| Jun 2015 | Seed | Pritzker Group Venture Capital; Slow Ventures; March Capital; Stephen Rader; Paul E. Jacobs; Mike Wortsman; Lionel Richie; HashtagOne; Jamie McCourt; James Lassiter | $5M | - | - |
| Oct 2014 | Seed | Pritzker Group Venture Capital; Capital Union Investments; March Capital; Mike Wortsman; Lionel Richie; Jamie McCourt | $2M | - | - |
Who has invested in Heal?
31 investors have backed Heal across its funding rounds, including Lionel Richie, Slow Ventures, Breyer Capital, Pritzker Group Venture Capital, March Capital and Capital Union Investments.
Lead investors include Humana Inc., Fidelity and Tull Investment Group.
Heal Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
| Los Angeles, CA | 3 | Participant | Oct 2014 | |
| San Francisco, CA | 2 | Participant | Oct 2016 | |
| Chicago, IL | 2 | Participant | Oct 2014 | |
 Hong Kong | 2 | Participant | Oct 2014 | |
| San Francisco, CA | 2 | Participant | Jun 2015 | |
| Los Angeles, CA | 2 | Participant | Oct 2014 | |
![](data:image/svg+xml,<svg xmlns="http://www.w3.org/2000/svg" width="20" height="20" viewBox="0 0 20 20"><rect fill="%23e5e7eb" width="20" height="20" rx="4"/></svg>){kind=small} Paul E. Jacobs | San Diego, CA | 2 | Participant | Jun 2015 |
| Mike Wortsman | Los Angeles, CA | 2 | Participant | Oct 2014 |
| Hartford, CT | 2 | Participant | Jun 2015 | |
| Los Angeles, CA | 2 | Participant | Oct 2014 | |
| Los Angeles, CA | 1 | Lead | Oct 2016 | |
 Berlin | 1 | Participant | May 2018 | |
| Washington, DC | 1 | Participant | May 2018 | |
This data is available for Pro users. Sign up to see all 31 Heal investors. Start Free Trial | ||||
Benchmark 350K+ Funding Rounds and Disclosed VC Valuation Multiples
Sign up to see data on 350K+ funding rounds and disclosed revenue and EBITDA valuation multiples, from seed, through growth stage, to pre-IPO.
Start Free TrialAcquisitions by Heal
Heal has acquired 1 company to date.
Last acquisition by Heal was on September 23rd 2019. Heal acquired Doctors on Call for $15M.
Latest Acquisitions by Heal
| Description | - |
| HQ Country | |
| HQ City | New York City, NY |
| Deal Date | 23 Sep 2019 |
| Valuation | $15M |
| EV/Revenue | |
| EV/EBITDA | |
This data is available for Pro users. Sign up to see all Heal acquisitions and their M&A valuation multiples. Start Free Trial | |
Heal Competitors
Heal competitors include listed companies like Talkspace and American Well, and private ones like UpStream Care, Biopeak, Slingshot AI and Helian Health.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| Greensboro, NC | Private | - | - | $1B | - | |
 Bangalore | Private | $2M | - | $250M | 125.0x | |
| San Francisco, CA | Private | $10M | - | $220M | 22.0x | |
| United States | Publicly listed | $229M | $6M | $871M | 3.4x | |
 Hangzhou | Private | - | - | $900M | - | |
| United States | Publicly listed | $249M | ($63M) | $232M | 0.2x |
Heal Public Comps
Heal is still privately-owned, but its public comps include American Well, Nyxoah, LifeMD, Medley Inc., Guiyang Longmaster, Kooth, BlinkLab, EUDA Health, Rocket Doctor AI and TelyRx.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $249M | ($63M) | 0.2x | 0.2x | (0.8x) | (3.1x) | |||
| $12M | ($97M) | 9.5x | 3.2x | (1.1x) | (1.4x) | |||
| $194M | ($2M) | 0.7x | 0.7x | (89.1x) | 75.2x | |||
| $236M | $32M | 2.1x | 1.8x | 15.7x | 13.2x | |||
| $44M | $5M | 10.0x | - | 87.9x | - | |||
| $85M | $13M | 0.7x | 0.7x | 4.6x | 4.3x | |||
| $848K | ($5M) | 87.3x | 87.2x | (14.5x) | (14.6x) | |||
| $7M | ($2M) | 8.0x | 5.9x | (26.0x) | - | |||
This data is available for Pro users. Sign up to see all Heal competitors and their valuation data. Start Free Trial | ||||||||
Common questions about Heal
| When was Heal founded? | Heal was founded in 2014. |
| Where is Heal headquartered? | Heal is headquartered in United States. |
| Is Heal publicly listed? | No, Heal is a private, VC-backed company. |
| What is Heal's valuation? | Heal was last valued at $300M in its Series D in July 2020. |
| How much funding has Heal raised? | Heal has raised $168M across 6 funding rounds. |
| What was Heal's last funding round? | Heal's last funding round was a $100M Series D in July 2020, led by Humana Inc.. |
| Who are Heal's investors? | Heal's investors include Lionel Richie, Breyer Capital, Pritzker Group Venture Capital, Capital Union Investments, Slow Ventures, March Capital, Paul E. Jacobs, Mike Wortsman, HashtagOne, Jamie McCourt and 21 others. |
| What is Heal's revenue? | Heal's latest recorded revenue is $28M (July 2020). |
| What is Heal's revenue multiple? | Heal's latest valuation implies a 10.7x revenue multiple ($300M valuation on $28M of revenue). |
| Which companies are comparable to Heal? | Companies comparable to Heal include UpStream Care, Biopeak, Slingshot AI, Talkspace, Helian Health and American Well. |
| How many companies has Heal acquired? | Heal has acquired 1 company, including Doctors on Call. |
| What was the largest acquisition by Heal? | The $15M acquisition of Doctors on Call in September 2019 is the largest acquisition Heal has made to date. |
See companies similar to Heal
Start Your
Free Trial Today
Try Multiples for free for 3 days. Got questions or need a demo? Schedule a call with us below.