Exclusive: Inbound Health nets $30M for hospital-at-home
Inbound Health, which lets providers offer hospital-at-home and home-based skilled nursing programs, raised a $30 million Series B, CEO Dave Kerwar tells Axios exclusively.
Details: The round was led by HealthQuest Capital, with participation from existing investors Flare Capital Partners and McKesson Ventures.
How it works: Minneapolis-based Inbound combines biometric monitoring, digital surveillance, in-home nursing and therapy, and virtual visits with hospitalists and geriatricians to care for patients in their homes.
- The company currently only serves Minnesota-based not-for-profit health care system Allina Health, which led Inbound's $20 million Series A last year.
- To date, the platform has cared for more than 6,500 patients and has been operational in Allina Health's service area since May 2020.
Of note: While Inbound's platform uses machine learning to make clinical recommendations, "We will never provide any action that is not driven by a human clinician," Kerwar says.
What's next: The Series B "gives us a three-year runway to get us to where we need to be to be self-sufficient," he says.
- "We will be open to strategic opportunities between now and then, but this will take fundraising off the table so we can focus and achieve what we need to do," he adds.
- In the meantime, Inbound will use funding to bring more health system customers into the fold.
What they're saying: Inbound's offering is "especially vital considering the growing capacity challenges faced by hospitals," says Garheng Kong, managing partner at HealthQuest Capital.
- "We believe in the team's ability to replicate and expand in future markets, making a substantial impact on health care delivery."
Catch up quick: With this raise, the company has raised a total of $40.25 million to date.
- Kerwar declined to comment on valuation and financials.