Iora Health Secures $14 Million in Series B Growth Financing; Investor Group Includes All Original Funders and Tony Hsieh

Company has Formed Four Primary Care Partnerships Across Four States Since 2011 Launch

Iora Health Secures $14 Million in Series B Growth Financing; Investor Group Includes All Original Funders and Tony Hsieh

Iora Health, a private healthcare company providing a radically different model of primary care, today announced that it has secured $14 million in series B growth financing. The financing, which included original investors Fidelity Biosciences, Polaris Partners, and .406 Ventures also included new investor Tony Hsieh, who oversees DowntownProject.com and is also the CEO of Zappos.

“We are tremendously excited by the value we are delivering to our patients through this proactive, relationship-centered care model,” said Iora Health CEO Rushika Fernandopulle, M.D., M.P.P. “Since our launch in 2011, the company has formed four large primary care partnerships across four states and our healthcare teams support over 4,000 patients nationally. Our goal is to transform health care delivery by showing there is a better way – changing the payment model, changing the staffing model and using cutting-edge technology to do it. With our new growth financing, we look forward to expanding our operations in all four markets where we currently operate practices.”

Tony Hsieh, who joined the financing round as a new investor, commented, “I love the idea that Iora Health offers extraordinary, proactive service and builds trusting relationships with patients so that they can be more effective managing their own care. Incredible service is hard to find in health care and Iora Health offers a model that we should scale across the country.”

Iora Health manages primary care practices in partnership with the Culinary Health Fund (NV), Dartmouth College (NH), Freelancers Union (NY) and the New England Carpenters Benefits Fund (MA). Outcomes research from Iora Health’s early work demonstrate this model’s ability to consistently deliver strong improvement in patient health, especially in managing chronic conditions such as diabetes and hypertension. This research also shows that the Iora Health model significantly increases patient satisfaction, access to care, and care coordination, all of which are proven to result in lower overall healthcare spending.

Iora Health provides a radically different model of primary care built from the ground up to ensure improved health outcomes while also lowering overall plan costs. Our patients enjoy the benefits of improved access to care, non-office based encounters (e.g. phone, text messages, and email), an accessible and transparent medical record, and robust educational offerings. Our practices enjoy the benefits of smaller sizes, closer relationships with patients, no billing or coding, and the opportunity to lead systemic change in healthcare delivery while working with a true team. For more information, please visit our website: