VillageMD Announces $100 Million in Series B, Led by Kinnevik
Wednesday, September 4, 2019
Posted by: Sandy Thomas
VillageMD, a leading national provider of primary care, today announced its Series B funding round of $100 million. The round was led with $75 million from Kinnevik AB ("Kinnevik"), an international growth-focused investment company, along with a returning investment from Oak HC/FT and new investments from Town Hall Ventures and Adams Street Partners.
"As we continue to transform and disrupt the healthcare system, we want partners who embrace our mission of changing U.S. healthcare for the better," said Tim Barry, CEO and co-founder of VillageMD. "Partnering with these world-class investors, who share our vision and bring us fresh capital and new capabilities, allows us to impact more patients and ultimately improve the quality of care in our country."
Kinnevik, a growth-focused investment company listed in Sweden, has a long track record of backing founder-led, technology-enabled companies that have helped transform numerous industries, including telecom, media, retail and healthcare. Kinnevik was attracted by the entrepreneurial spirit of VillageMD's three co-founders, Clive Fields, M.D., Paul Martino and Barry, who started VillageMD in 2013.
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