Rocket Doctor secures US $2.7M seed financing

CPE News (5/28/2021) – Rocket Doctor Inc. has announced the closing of a US $2.7 million seed round, building on its US $1.1 million of pre-seed funding closed in 2020.

The financing round was led by f7 Ventures and Dr. Irv Edwards with Emergent Medical Associates.

Founded by Dr. William Cherniak, Adam Teitelman, Harry Cherniak and Dr. Justin Losier, Toronto based Rocket Doctor is a digital health marketplace that leverages its proprietary technology platform and care-first approach to bring the most advanced doctor’s office directly to patients.

Rocket Doctor will use new funding to support geographic growth ambitions, expand its direct to patient diagnostics program, and further develop its proprietary technology platform.

photo credit: Rocket Doctor

News Release

Rocket Doctor Inc. Secures $3.8M USD to support accelerated patient growth across the US & Canada

Rocket Doctor Inc. Secures $3.8M USD to support accelerated patient growth across the US & Canada, direct to patient diagnostics program, and development of its proprietary technology platform.

TORONTO (PRWEB) May 28, 2021

Rocket Doctor Inc. (“Rocket Doctor”), a rapidly growing digital health marketplace transforming the way comprehensive care is delivered by bringing an advanced doctors office directly to patients’ homes, announces that it has closed a $2.7M seed round, building on $1.1M of pre-seed funding.

The capital will support the company’s geographic growth ambitions, expand its direct to patient diagnostics program, and further develop its proprietary technology platform. The round was led by f7 Ventures and Dr. Irv Edwards with Emergent Medical Associates. This equity financing raise comes as Rocket Doctor scales to meet strong demand for its unique virtual healthcare services. Since launching to the public last June, Rocket Doctor has enabled more than 130 doctors to care for nearly 40,000 patients. Physicians and patients alike value and love the service, with 90% of patients providing a 5-star rating, and an MD retention rate over 90%.

Founded in March 2020, the idea for Rocket Doctor was formed through Dr. William Cherniak’s 10 years of not-for-profit experience bringing advanced healthcare to remote regions of rural East Africa, alongside 9 years working in clinical care across Canada and the United States. While in the ER, Dr. Cherniak has seen the impact of non-critical visits on patients, providers and hospitals, and the challenges patients have in navigating complexities in the system. Compelled to help improve the experience for doctors and patients alike, he collaborated with co-founders Adam Teitelman, Harry Cherniak and Dr. Justin Losier to launch Rocket Doctor last spring. Rocket Doctor aims to transform the way healthcare is delivered by providing quick access to high-quality, comprehensive medical care, powered by advanced devices and proprietary technology, all from the safety of everyones’ own homes.

“Rocket Doctor’s mission is to make high-quality, comprehensive healthcare affordable, accessible, quick and convenient for everyone. In particular, those in underserved communities where a family doctor may be out of reach, and it can often take months to book an appointment with a specialist. Our marketplace now allows most patients to connect with a provider, including specialists, in as little as one day. In Canada, this is all possible by using Provincially-funded health insurance. In the United States, we accept many forms of insurance, as well as competitive out of pocket rates, and are actively exploring how to provide care to those with less resources”, said Dr. William Cherniak, Rocket Doctor’s CEO and founder. “We do this by empowering doctors to run their own virtual practice through our proprietary tech platform. We then enhance care by bringing the most advanced doctor’s office directly to patients’ homes. The end result is faster and more convenient, effective and compassionate care.”

Dr. Christopher Byrne, an emergency physician with an interest in the care of patients with alcohol and opiate addictions says, “Rocket Doctor allows me to build upon the rapport I initially establish with patients in the emergency department. This innovative virtual care platform permits flexibility in scheduling follow-up, which is ideal in supporting these patients through subacute withdrawal. Once stabilized, I can perform a comprehensive assessment at a time that does not conflict with other commitments, providing the time necessary for me to listen, understand and empower individuals with the tools to support recovery. For those who see an emergency department visit or relapse as their only options, know that we are working hard to build a culture and system that breaks down many of the traditional barriers to accessing care when it is needed the most.”

“We’re very excited about the opportunity to work with Rocket Doctor,” said f7 general partner Joanna Lee Shevelenko. “We believe their approach, proprietary platform and in-home medical device strategy can transform the accessibility, scope and quality of care available through their network of virtual providers. Their lived experience as doctors building for doctors is resulting in a model of differentiated and comprehensive care that will build trust and broad adoption. We look forward to seeing them reaching and improving healthcare for hundreds of thousands, if not millions, of patients over the coming months and years,” said f7 general partner Kelly Graziadei.

“I’m absolutely delighted to be working with Dr. Cherniak, Dr. Losier and the team at Rocket Doctor to improve care across North America,” said Dr. Irv Edwards, founder and President, Emergent Medical Associates. “As someone who has spent more than 30 years building EMA to house more than 900 allied care providers and 20+ ERs across the United States, I see virtual care as a critical component of healthcare. Further, as a dual Canadian/American citizen, I am thrilled to see the organization providing services on both sides of the border.”

About Rocket Doctor

Rocket Doctor is a digital health marketplace that leverages its proprietary technology platform and care-first approach to bring the most advanced doctor’s office directly to patients.

About f7 Ventures

f7 Ventures is a Silicon Valley venture capital fund comprised of 7 female operators and leaders with over 20 years of experience in the fastest growing technology companies in Silicon Valley. During their tenures at Facebook, Google, Yahoo and beyond, they managed and developed thousands of people across dozens of teams around the world. They grew and managed revenue from $0 to > $15B, scaled user growth to over a billion, launched over 30 new products globally and led teams across almost every organizational discipline. They invest in pre-seed and seed stage companies and work closely with founders to lend their operational expertise to support companies in accelerating & reaching their next stage of growth.

About Emergent Medical Associates

Emergent Medical Associates (EMA) is a leading provider of emergency care and episodic care management services to patients, communities, provider groups and hospitals throughout the Western United States. Our hospital clients include 20+ sites and care for over 900,000 patients annually.

Our proven providers, proprietary methods and management techniques, as well as, uncompromising standards allow us to create “Departments of Excellence” for our clients, based on the provision of superior patient care to the communities we serve. Our highly analytical approach, objective performance measurement and team-orientation create an environment where our physicians thrive, hospitals prosper and patients leave our facilities knowing they were treated in a timely, compassionate and respectful manner.

Contact
media@rocketdoctor.io