AI-powered Telehealth Platform TytoCare secured $50M in Series D funding

TytoCare, a New York-based AI-powered telehealth platform for on-demand remote medical examinations, has now secured $50 million in a Series D funding round.

TytoCare is founded by the Dedi Gilad in the year 2012. It is a telehealth company that leverages Artificial Intelligence to connect people to clinicians to provide virtual home examination and diagnosis solutions. Its proprietary solutions are designed to enable a comprehensive medical exam from any location and include a handheld, all-in-one tool for examining the lung, skin, ears, throat, body temperature, and abdomen.

With this latest funding, the total funding secured to date now $155 million, notes the announcement.

Dedi Gilad, Co-Founder, and CEO of TytoCare, said, "TytoCare was on a strong growth trajectory long before COVID-19, and last year we experienced even more immense growth amidst surging demand. The pandemic significantly accelerated telehealth awareness, adoption, and utilization worldwide, and current advances in AI-powered home-based clinical diagnoses are making virtual care even more personalized and effective for a wider population, as well as more use cases. This new funding is a strong vote of confidence in our solution and enables us to deliver comprehensive remote care to more patients and cutting-edge telehealth solutions to our partners faster."

Jeff Horing, Co-Founder and Managing Director, Insight Partners, said, "TytoCare sets itself apart in the telehealth market by providing patients, clinicians, and healthcare organizations worldwide with a unique end-to-end solution that goes far beyond the average video visit, with clinic-quality examinations and AI-powered diagnostic capabilities. We are thrilled to be investing further in TytoCare and to continue to work with the company as it scales its solution and leads the pack with innovative advances in virtual care."

The Insight Partners led the latest funding round. Other participating investors include Qumra Capital, Tiger Global Management, Qualcomm Ventures LLC, Shenzhen Capital Group Company, and Olive Tree Ventures.

The company as of now has plans to use the new funds to expand the availability of its full-stack telehealth and remote examination platform throughout Asia, the US, and Europe. The company also intends to further penetrate into the global healthcare payer market. TytoCare will also introduce some of the new advanced product capabilities, which include machine learning and AI-based home diagnostics solutions, notes the announcement.