Total amount raised
$19.5 Millions
Latest funding date
06/01/2024
Location
Pair Team has successfully raised $15 million over multiple funding rounds, including a recent $500,000 Series Unknown round. The platform focuses on connecting underserved communities to high-quality care through a network of local care teams.
Keep reading to explore the intricacies of Pair Team's fundraising journey and the investors backing this innovative platform.
What Is Pair Team?
Pair Team, founded in 2019, operates in the healthcare industry, specifically focusing on connecting underserved communities to medical, mental health, and social services. The company is headquartered in San Francisco, California, and was founded by Cassie Choi and Neil Batlivala.
With an employee count ranging from 11 to 50, Pair Team aims to build primary care infrastructure for vulnerable communities. They act as an extension of clinical staff, providing personalized, high-touch care experiences and addressing barriers such as transportation, housing, and food insecurity.
How Much Funding Has Pair Team Raised?
- Pre-Seed Round
- Amount Raised: Not publicly disclosed
- Date: August 19, 2019
- Lead Investors: Y Combinator
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To establish the initial operations and develop the platform.
- Seed Round
- Amount Raised: $2.7M
- Date: September 10, 2019
- Lead Investors: Kleiner Perkins
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand the team and enhance the platform's capabilities.
- Pre-Seed Round
- Amount Raised: Not publicly disclosed
- Date: December 9, 2020
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support further development and scaling of operations.
- Seed Round
- Amount Raised: Not publicly disclosed
- Date: April 29, 2021
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance the company's ability to connect underserved communities to care.
- Seed Round
- Amount Raised: Not publicly disclosed
- Date: August 1, 2021
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand the care coordination platform.
- Seed Round
- Amount Raised: $7.3M
- Date: December 7, 2021
- Lead Investors: NTT Venture Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support further development and scaling of operations.
- Series A
- Amount Raised: $9M
- Date: October 19, 2023
- Lead Investors: NEXT VENTURES
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale efforts and expand reach beyond California.
- Venture Round
- Amount Raised: $500K
- Date: June 10, 2024
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance the company's ability to connect underserved communities to care.
Total Amount Raised: $19.5M
Current Valuation: Not publicly disclosed
Key Investors
- Next Ventures
- Details: Next Ventures is a venture capital firm focused on health, wellness, and fitness sectors. They led Pair Team's $9 million Series A funding round.
- Investment Focus Areas: Health, wellness, fitness
- Notable Investments: Oura, Tonal, Hyperice
- NTT Venture Capital
- Details: NTT Venture Capital invests in technology and innovation across various sectors. They participated in Pair Team's $7.3 million seed round.
- Investment Focus Areas: Technology, innovation
- Notable Investments: Cloudian, Shape Security, Mist Systems
- Kleiner Perkins
- Details: Kleiner Perkins is a venture capital firm that invests in early-stage to growth-stage companies in technology and life sciences. They participated in Pair Team's $2.7 million seed round.
- Investment Focus Areas: Technology, life sciences
- Notable Investments: Google, Amazon, Twitter
- Y Combinator
- Details: Y Combinator is a startup accelerator that provides seed funding for startups. They were the lead investor in Pair Team's pre-seed round.
- Investment Focus Areas: Seed funding for startups
- Notable Investments: Airbnb, Dropbox, Stripe
- Kapor Capital
- Details: Kapor Capital invests in seed-stage companies that close gaps of access, opportunity, or outcome for low-income communities and communities of color. They participated in Pair Team's Series A funding round.
- Investment Focus Areas: Social impact, technology, healthcare
- Notable Investments: Twilio, Uber, Bitwise Industries
What's Next for Pair Team?
Pair Team stands at the cusp of significant growth opportunities, driven by the expansion of their network of safety net organizations and partnerships with local health centers. The potential to scale their operations across California and beyond is immense, especially with initiatives like CalAIM providing a robust framework for integrating social support services into healthcare.
Future fundraising prospects look promising as the company continues to demonstrate success in improving patient outcomes and reducing emergency department utilization. Additional funding rounds could support national expansion, attracting investors focused on healthcare innovation and value-based care.
However, challenges such as navigating regulatory requirements, ensuring consistent quality of care, and securing ongoing funding remain. As Pair Team scales, maintaining personalized, high-touch care experiences will be crucial to their continued success.
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