Forward Health reached a valuation of more than $1 billion after funding rounds that saw the healthcare startup raise $225 million, according to Reuters. The late-stage funding was from investors led by SoftBank Vision Fund 2 and Peter Thiel’s Founders Fund.
The Series D funding round also includes investments from Khosla Ventures, Salesforce.com Inc. CEO Marc Benioff, and Canadian pop singer The Weeknd.
Forward plans to use the fresh funds to reach more U.S cities and introduce new programs focused on heart health, cancer detection, COVID-19, stress, anxiety, and weight management.
With a valuation of $1 billion or more, Forward will enter the so-called “unicorn” startups.
Forward uses biometric body scans, genetic testing, and blood tests to assess what diseases a patient is likely to develop later in life and uses the information to set customers’ health plans.
By providing predictive and preventive primary care services, Forward is among healthcare tech ventures that have benefited from the COVID-19 pandemic following a rise in demand for remote health services.
Forward, which operates in 11 U.S cities, also offers a mobile app to monitor COVID-19 symptoms at home.
Forward raised about $164 million in February 2019 and was valued at $453 million then.
