Artificial Intelligence
General Medicine raises $120m Series B
The healthcare marketplace startup said the round was led by Andreessen Horowitz and would fund expansion of its consumer-facing care platform, which combines price shopping, clinician review and fulfilment.
- General Medicine said it had raised $120 million in Series B funding led by Andreessen Horowitz.
- The company said the round also included Matrix, VXI Capital, Eli Lilly and Company, Mercy Health through Granger Management and BoxGroup, taking total funding to $152 million.
- TJ Parker said General Medicine had hundreds of thousands of customers across every state and nearly every county, and that 83% said it helped them deal with delayed care.
- Parker, Elliot Cohen and Ashwin Muralidharan founded the company in autumn 2023, and Parker later became chief executive full-time while Muralidharan became chief product officer and Cohen president.
- General Medicine said its catalogue contained more than 2,900 products and services and that it planned to add imaging and more outpatient procedures.
General Medicine said on Tuesday that it had raised $120 million in Series B funding, with Andreessen Horowitz leading the round. The company said its platform linked care recommendations with fulfilment, including prescriptions, lab tests, telehealth visits and in-person appointments.
The round also included Matrix, VXI Capital, Eli Lilly and Company, Mercy Health through Granger Management and BoxGroup. General Medicine said it had raised $152 million in total, after a previous $32 million round led by Matrix, BoxGroup, Founder Collective, VXI Capital and JSL Ventures.
Parker said the company had attracted hundreds of thousands of customers across all states and nearly every county. He said users included people with commercial insurance, Medicare and Medicaid, and that 83% said the service had helped them act on care they had been putting off.
General Medicine said its catalogue covered more than 2,900 products and services across medicines, laboratory work, telehealth and selected in-person procedures. Executives said the same infrastructure was intended to support future AI agents that could search for and buy care on a patient’s behalf.
Named in this story
People
- TJ Parker
- co-founder who became full-time chief executive
- Elliot Cohen
- co-founder who serves as president
- Ashwin Muralidharan
- former Amazon executive who became chief product officer
Companies
- General Medicine
- announced the funding round and runs the care marketplace
- Andreessen Horowitz
- led the Series B round
- Matrix
- participated in the round and led an earlier one
- VXI Capital
- participated in the Series B and an earlier round
- Eli Lilly and Company
- participated in the Series B round
- BoxGroup
- participated in the Series B and an earlier round
- Founder Collective
- participated in the earlier funding round
- JSL Ventures
- participated in the earlier funding round
- PillPack
- was co-founded by Parker and Cohen and later bought by Amazon
- Amazon
- bought PillPack in 2018
Organisations
- Mercy Health
- participated in the round through Granger Management
- Granger Management
- served as the vehicle through which Mercy Health invested
How the source tells it
The piece was a conventional funding story, but it leaned on the company’s own language and investor praise.
- vendor boosterism the company framed itself as a healthcare store and one-stop shop, and the lead investor praised its patient experience
- speculative futurism executives said the same system was intended to let AI agents buy care for patients later