Color secures $100M to launch new programs in the healthcare biz

Health tech startup Color has announced raising $100 million in series E financing tranche, taking the company’s overall valuation to $4.6 billion. With this capital, the startup has raised a total of $378 million which will entirely be used to offer new programs across the healthcare services.

As per sources, the funding round was led by Kindred Ventures and it also witnessed participation from investors like Viking Global Investors, general Catalyst and Emerson Collective.

According to credible reports, the recent funding will help Color facilitate the growth of the public health services by enabling people get access to diagnostics, screening and initial treatments as per their health needs.

The new services and existing offerings of the company will further help in the developing public health technology for government and other institutions that cater to mass population. Besides, Color’s offerings would also include preventative health and vaccination services for employers and schools. Furthermore, it also plans to include infectious disease management programs in the near future.

Reportedly, the software and infrastructure tools offered by Color are used to manage infectious diseases and help in preventative healthcare. To provide immediate access to the healthcare system, Color has collaborated with over 1000 institutions like the universities, public health organizations and employers.

Color has established partnership with institutions like the National Institute of Health, Salesforce, Thermo Fisher Scientific, the State of California and others. The company has allegedly facilitated 6500 Covid-19 tests sites at schools, offices and operates 500 vaccination drives throughout the country.

Othman Laraki, CEO of Color has stated that the system they’ve built will serve as an important public health facility and provide healthcare services to those needing it the most. He added that a wide section of the society will use these services due to the simple and convenient ways offered by Color.

Source credit:- https://techcrunch.com/2021/11/09/health-tech-startup-color-raises-100m-at-a-4-6b-valuation/?guccounter=1