San Francisco-based healthtech startup Forward announced Thursday that it raised $225 million in fresh financing to open several new healthcare facilities across the United States.
The Series D included participation from Founders Fund, Salesforce CEO Marc Benioff and Grammy Award-winning musician The Weeknd.
Forward’s membership-based healthcare system uses biometric and behavioral data monitoring to provide its members with a comprehensive overview of their health.
Its baseline health evaluation includes a body scan, heart and lung examination, blood work and a genetic sequence. During a member’s first visit, more than 500 biomarkers can be captured, according to the company.
“The pandemic has further exposed the limitations of traditional healthcare, and the Band-Aid of telehealth alone does not solve the problem,” Adrian Aoun, co-founder and CEO of Forward Health, said in a statement.
Forward members can frequent their doctor’s office as often as they want to without having to worry about dealing with a co-pay. The company offers all of its healthcare services for a monthly fee of $99 or an annual fee of $1,639.
Members don’t need medical insurance to join, although most obtain a Forward membership as a complement to their primary medical insurance, according to the company.
“I invested in Forward Health because I walked in and couldn’t believe what I saw: a state-of-the-art facility that looked like the exact opposite of what you’d expect to see in a typical doctor’s office with no waiting room and everyone being seen straight away,” The Weeknd said in a statement.
Forward primarily focuses on preventative care and meeting day-to-day health needs. Specialist visits, hospitalizations, ongoing medications and treatments aren’t covered by the company.
The company currently has offices in cities across the U.S. including New York, Los Angeles and Washington, D.C.
Following the fresh investment, Forward will look to expand to other cities, including Boston and Miami. The company also plans to grow its team as it continues to scale. Forward is now hiring for dozens of open tech positions at its San Francisco headquarters with a primary focus on expanding its operations and engineering teams.
Forward has raised $225 million in venture capital financing to date, according to Crunchbase.
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