The human arsenal is well-known for many different things, but most importantly it is known for getting better on a consistent basis. This dynamic, in particular, has allowed us to hit upon some huge milestones, with technology appearing as a major member of the stated group. The reason why technology enjoys such an esteemed stature among people is largely down to its skill-set, which was unique enough to usher us towards a reality that we couldn’t have imagined otherwise. Nevertheless, if we look beyond the surface, it will become clear how the whole runner was also very much inspired by the way we applied those skills across a real-world environment. The latter component was, in fact, what gave the creation a spectrum-wide presence, including a timely appearance on our healthcare block. Technology’s linkup with healthcare was perfect in regards to the timing, as it came right when the sector was beginning to struggle against its own obsolete structure. Fortunately, though, this reality went through a complete overhaul under the new regime, but even after achieving such a monumental feat, the new and budding medtech concept will somehow continue producing all the right goods. The same has only turned more and more evident over the recent past, and truth be told, a new funding gives it every bit of chance to become bigger and better moving forward.
Hazel Health, a company that provides school-based telehealth services, has successfully secured over $51.5 million in a Series C1 financing. According to certain reports, the round was conceived by the contribution of various big-shot investors, such as Tao Capital Partners, Owl Ventures, Firework Ventures, Memorial Hermann, Fiore Ventures, and more. Talk about how Hazel Health plans on using the newly-raised cash, the company is expected to dedicate a bigger chunk of it towards product innovation, and consequentially, realize a more effective pediatric healthcare system. Founded in 2015, Hazel Health has remained focused on helping all children, regardless of their family income, geography, race, ethnicity, insurance, and immigration status, in accessing comprehensive care across every relevant aspect. To achieve that goal, the company would start building partnerships with local schools. But how does the whole thing work? Well, once a collaboration agreement between Hazel Health and the school is finalized, the former sets up telehealth clinics in the school building. The idea here is, of course, to make it easier for kids to access the stated services. Moving on, when a kid does consult one of these clinics, they are put through a mental health assessment, thus ensuring a more personalized treatment. The results of this assessment are passed on to a licensed therapist, who then guides the kid from there onwards. Interestingly, Hazel is also open to taking treatment referrals from teachers, school counselors, and parents. As for the economics of it, the company’s operations are covered by a combination of payer reimbursement, school districts, and federal funding set aside to support school-based healthcare.
“We have been fortunate throughout our history to have an exceptional group of investors that are equally passionate about our mission of ensuring that all students have access to healthcare,” said Josh Golomb, CEO of Hazel Health. “They supported us to build a new model of care with the knowledge that while it would be challenging, our work would be groundbreaking if successful. This funding will enable Hazel to support our many new district partners, expand the care we provide for students, and invest in more technology and infrastructure to deepen our impact.”
At the moment, Hazel Health’s services are deployed in more than 3,000 schools. This includes the likes of Denver Public Schools in Colorado, Broward County Public Schools in Florida, Clark County School District in Nevada, and of course, many others.
