One Medical Group, the national leader in technology-enabled primary care, today announced that it has raised $65 million of growth capital to support accelerated market expansion. The round was led by J.P. Morgan Asset Management on behalf of PEG Digital Growth Fund II L.P. and AARP Innovation Fund L.P. Current and new institutional and individual investors also participated.
The funding news comes after a year of record growth for One Medical – including the addition of over 80,000 new members and expansion of the company's enterprise client base to over 150 organizations, with clients such as Adobe, Airbnb, GoDaddy, Lyft, Percolate, and the Arizona Diamondbacks.
"One Medical is committed to improving the quality, service and affordability of health care," said Tom Lee MD, founder and CEO of One Medical Group. "By using technology and a patient-centered approach, we're able to care for individuals and populations more thoughtfully, while also lowering total health care costs."
In addition to fueling further expansion into other markets nationally, the capital will be used to invest in One Medical's enterprise solutions and mobile technology platform. One Medical already offers same-day appointment booking, prescription renewals, messaging and digital dermatology, and plans to further expand its digital health offering.
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