Wheel Exit Candidate
🏦 Potential exit path: SPAC, IPO
Formerly known as Enzyme Health, Wheel is a healthcare technology company powering virtual care, with its technology enabling companies and clinicians need to deliver care virtually. The company's platform makes it simple for companies to build virtual care services under their brand by providing the infrastructure and clinicians. For clinicians, Wheel offers one place to manage their entire virtual care practice, including training and work opportunities. Its clients include digital health companies, clinical lab networks, retailers, and tech companies.
Last round 🔗 $150M
January 19, 2022.
January 19, 2022.
Select investors Lightspeed Venture Partners, Tiger Global Management, JPMorgan Chase, Coatue Management, Salesforce Ventures, CRV, Tusk Venture Partners, Silverton Partners
Key people 🧑🤝🧑
- Wheel offers great value: Instead of starting from scratch, companies can leverage Wheel's virtual care platform and nationwide clinician network to develop a virtual care service — bypassing the 15 months and $15 million it can take to build from the ground up. 🔗
- Solid numbers: Wheel delivered 1.3 million patient visits in 2021 and is expected to triple visit volume by the end of 2022. The company also grew its clinician network by more than 60% year-over-year while maintaining a 90% retention rate.
- Bigger goal: Wheel wants to go beyond telehealth to help patients after the initial virtual visit get directed to labs, diagnostics or even an in-person visit.
- "In just a few years, Wheel has proven they are the leader and trusted partner to build in virtual care. I'm personally passionate about their noble goals to make virtual-first care more accessible, affordable, and equitable at scale." - Lightspeed partner Dr. Ling Wong
- "We're still in the early innings, and Wheel's work behind-the-scenes to power some of the most disruptive companies in healthcare today and in the future is incredibly exciting. We're looking forward to partnering with Michelle and her team and continuing their path as both the pioneer and industry leader." - Tiger Global partner Jay Chen
Last update: February 13, 2022
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