Carbon Health Raises $100M to Expand Its Footprint

The hybrid healthcare solution has brick-and-mortar locations in 13 states and a virtual care offering.

Written by Ashley Bowden
Published on Jan. 10, 2023
Carbon Health Raises $100M to Expand Its Footprint
Illustration of healthcare icons
Image: Shutterstock

Healthcare in the U.S. has seen several changes over the past few years, and many advances are still to come. Carbon Health, a Bay Area healthtech company, offers a hybrid care solution for patients across the country. After a new $100 million capital injection from CVS Health Ventures, it’s expanding its reach.

Carbon Health offers virtual and in-person solutions for appointments, primary care, urgent care and mental healthcare. Combining over 125 physical locations across 13 states with its digital offerings, the company said it serves more than 1 million patients. 

This $100 million investment announced on Monday is part of an initial close of Carbon Health’s Series D round. CVS Health, the name behind health insurance company Aetna and retail chain CVS Pharmacy, aims to lead this Series D funding round with its hefty investment.

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On top of building out Carbon Health’s capital, CVS will also pilot the Carbon Health operating model inside some of its existing CVS Health locations, with the goal of improving the retail health experience.

“While healthcare has evolved tremendously over the past few years, there are still many ways in which care delivery and quality have not. We’re focusing on everyday touchpoints with an integrated care team to help patients achieve better health outcomes — because healthcare is not just what happens during a visit but also what happens in between,” Eren Bali, CEO and co-founder of Carbon Health, said in a statement. “Now, with the support of CVS Health, we can further accelerate our goal of designing healthcare as it should be — simple, flexible and personal.”

The fresh funding will help Carbon Health scale its Connective Care model into new locations. It will also sign new value-based care arrangements and advance its tech stack.

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