Health technology startup Color works directly with employers, unions, and governments to provide public health technology and infrastructure to large populations. Some of their current clients include Teamsters Union, The National Institutes of Health, Salesforce, and the State of California. With the goal of making population-scale healthcare programs accessible, convenient, and cost-effective for everyone, Color relies on infrastructure and software.
Following trends started last year with the beginning of the pandemic, Color is focusing on its testing and telehealth services. Color offers preventative health and infectious disease management and has even developed an at home COVID test that earned emergency use authorization by the FDA in July.
In support of its transformative services, Color recently announced a successful Series D funding round resulting in $167 million. The company plans on using the funds to expand public health technology and infrastructure for large population-serving organizations. The round was led by venture firm General Catalyst along with Viking Global Investors. The funds managed by T. Rowe Price helped Color reach unicorn status, as the startup is now worth $1.5 billion.
Color was founded in 2013 as a gene testing company that advised patients about hereditary risks and connected them with health counselors. Now, Color’s CEO Othman Laraki addressed the lack of “modern public health infrastructure” highlighted by the recent COVID-19 pandemic. “We are building the rails for a national technology-based public health infrastructure,” he said.
Color currently manages COVID testing programs for over 100 universities and employers and is working with PerkinElmer to process 150,000 COVID-19 tests each day in the state of California. Its partnership with the City of San Francisco has resulted in one of the nation's highest per capita COVID-19 testing rates. The company also works to deliver vaccines through systems with local governments, and other constituents.
The company recently announced shifts in leadership to improve operations, including hiring Emily Reuter as Vice President of Strategy and Operations, who was previously head of investor relations for Uber. Some also believe Color may be planning on going public, however there has not yet been any confirmation from the company. The company is expected to continue growing through its plans for 2021 to strengthen accessible healthcare and improve infrastructure in the health industry.