Color, a promising health technology startup, recently wrapped up a Series E funding round totaling $100 million. The new investment brings Color's fundraising purse to $378 million, and makes for an updated $4.6 billion valuation. January saw a $167 million Series D raise the company's worth to $1.5 billion, meaning the latest round effectively tripled Color's valuation.
The Series E, featuring participation from round leader Kindred Ventures and existing investors General Catalyst, Viking Global Investors, and Emerson Collective, was specifically conducted to help augment the company's preventative health software and infrastructure offerings, which champion improved healthcare program accessibility. By retooling healthcare delivery with easily scalable methodology and drastically less clinical resourcing, Color is able to reduce transaction costs and provide better, more direct opportunities for access.
Over 1,000 organizations have struck up partnerships with Color to enhance healthcare program availability, and these universities, employers, and public health departments include the likes of the State of California, Thermo Fisher Scientific, Salesforce, and the National Institutes of Health. Color has also thrown its hat into the COVID-19 ring, as it runs around 500 vaccination sites and more than 6,500 testing sites at schools and business offices across the U.S. The latest funding round is affording the company the chance to incorporate vaccination and preventative health services, in addition to planned infectious disease management programs, into its portfolio.