Sprinter Health Secures $55M to Expand At-Home Healthcare Services

Sprinter Health, a startup focused on providing at-home preventative healthcare services, has raised $55 million in a Series B funding round. Led by General Catalyst, with participation from Andreessen Horowitz, Regents of the University of California, Google Ventures, and Accel, this latest investment brings Sprinter Health’s total funding to $125 million.

Founded by Max Cohen and Cameron Behar, Sprinter Health addresses the gap in telehealth by offering in-person services such as blood draws, diabetes eye checks, and colorectal cancer screenings. The company aims to re-engage patients who are not actively utilizing the healthcare system, promoting long-term health and wellness.

Sprinter Health has experienced rapid growth, expanding its operations from five states in 2023 to 18 states currently. According to Cohen, the company’s revenue has increased six-fold over the past year.

The company’s core technology is its logistics system, which optimizes routes and schedules for clinical professionals, phlebotomists trained as medical assistants, and community health workers. This system ensures efficient service delivery, enabling “sprinters” to serve up to 12 patients daily.

Julie Yoo, a general partner at Andreessen Horowitz and a Sprinter Health board member, emphasizes the challenges of achieving sustainable unit economics in home-based care. She likens Sprinter Health’s business model to Instacart and DoorDash, where maximizing the number of customers served is crucial for strong gross margins.

Sprinter Health partners with health insurance providers, including Medicare and Medicaid, to offer its services to members at no direct cost.

The funding will be used to further expand Sprinter Health’s reach and enhance its technology platform, solidifying its position in the evolving landscape of healthcare delivery.