Venture Capital: Population-Scale Healthcare Platform Color Raises $100M

November 10, 2021 | News, Venture Capital
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The Series E round valued Color at $4.6 billion.

Public health technology platform Color announced Tuesday its Series E funding round of $100 million led by Kindred Ventures and funds and accounts advised by T. Rowe Price Associates, Inc. Existing investors General Catalyst, Viking Global Investors, and Emerson Collective also participated. (VatorNews)

Color’s mission is to improve population-scale infrastructure for healthcare such as those run by corporates, governments and other such institutions. It brings a data-driven approach to large-scale healthcare initiatives such as COVID-19 testing and screening for large populations to hereditary cancer and heart disease risk testing. The company’s custom-built software and state-of-the-art, automated CAP-accredited, CLIA-certified laboratories are able to handle it, delivering high-quality at competitive costs.

COVID-19

For example, for Covid-19 testing and screening Color provides a separate high-capacity lab, full program logistics, and an integrated infrastructure. The company is currently running the largest COVID-19 testing program for K-12 schools in the US and has supported more than 6,500 testing and 500 vaccination sites across the country.

In January, the company raised $167 million in a Series D round. At the time, CEO Othman Laraki said: “We are building the rails for a national technology-based public health infrastructure. The inability to deliver basic healthcare services during the biggest health crisis of our life is a direct consequence of the lack of public health delivery model.”

Color now intends to include vaccination and preventive health services for schools and employers, as well as infectious disease management programs for public health settings.

“We have learned that there is an exponential uptick in people’s ability to use these services as they become simpler and more convenient,” said in a statement Tuesday. “Public health should happen where public life happens.”

With the latest round, the company has raised a total of $375 million.

“Color is poised to further transform how we deliver public health in this country with speed and at-scale,” said Steve Jang, Founder and Managing Partner of Kindred Ventures.”The hosted software and data infrastructure that Color provides has created a new normal: all essential care should be accessible, decentralized, and delivered within companies, schools, and communities instantly.”

Related Story: Population-Scale Healthcare Platform Color Raises $167M At $1.5B Valuation

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