A Series C investment round has earned same-day healthcare appointment network Solv Health $45 million in new venture capital funding. Solv has made its name by applying the price and scheduling comparison algorithms of travel and restaurant booking sites to health service appointment allocation.
The need for Solv’s services has upticked in recent years, as the proliferation of myriad options for healthcare services has somewhat muddled the customer experience. A market filled with telehealth options, home prescription delivery, unpredictable COVID-19 testing and vaccination sites, and more makes scheduling more of a headache than ever.
Heather Fernandez, Chief Executive Officer of Solv, said that the network germinated from considering the common questions of customers; appointment timeliness, availability, location, and cost comparison all had the potential to impede access to proper care. Solv’s eponymous application generates millions of appointments each month and its software is sold to providers in order to produce co-branded apps.
Fernandez also said that, from the beginning of 2020, telehealth has comprised around 10 to 15% (or 1.5 million) of total visits via Solv. This number had been practically nonexistent before COVID-19, which she said “pulled the future forward in health care by a decade.”
Solv’s Series C was co-led by investors Acrew Capital and Corner Ventures, with participation from Greylock and Benchmark.