Amwell

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Amwell, founded in 2006, is a leading telehealth provider in the US, offering a gamut of telehealth services, including urgent care, telestroke, telepsychiatry, and chronic disease management. The company serves both the business-to-consumer (B2C) and business-to-business (B2B) markets. The company currently reaches out to over 150 million lives, served through its client base, comprising more than 55 health plans, more than 240 health system partners (representing more than 2,000 hospitals) and more than 36,000 employers. As of May 2021, Amwell had 1.6 million total visits from its members. The company has broadened its portfolio recently by acquiring Avizia (an acute care telehealth provider) in 2018 and expanding into virtual behavioral health space by acquiring Aligned Telehealth (in November 2019).

Amwell has been successful in securing a series of big funding rounds in the recent years. It secured a significant amount of USD 366 million in a Series B funding round in 2018. With its latest funding rounds of USD 194 million in May 2020 (led by Allianz X and Takeda) and USD 100 million in August 2020 (led by Google Cloud Platform), it has brought up the total funding to USD 811 million to-date. The company seeks to utilize a major part of the funding to expand its technology and services, which bodes well with the business boom caused by the recent Covid-19 pandemic. The company filed for an IPO application in early June 2020 and had its public debut on September 17, 2020. Amwell's revenue increased by 7% YoY in Q1 2021 to USD 57.6 million, however, adjusted EBITDA loss increased to USD 26.4 million from USD 17.7 million. The company anticipates revenue to range from USD 260 - 270 million in 2021, implying a growth rate of 6 - 10% YoY. It also forecasts adjusted EBITDA loss to range from USD 147 - 157 million.

HQ Location:
75 State Street 26th Floor Boston MA USA
Founded year:
2006
Employees:
1,001-5,000
Telehealth
Telehealth
Mental Health Tech
Mental Health Tech
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