Welcome!

News Feed Item

Fruit Street Telehealth Raises $3M and Expands Oversubscribed Series A to $4M of Equity Financing

NEW YORK, Nov. 30, 2016 /PRNewswire/ -- Fruit Street Telehealth (Fruit Street) today announced that it has raised $3M of Series A financing, bringing its total number of physician investors to more than 160. Laurence Girard, CEO and Founder of Fruit Street Telehealth, stated that, "The round is currently oversubscribed beyond $3M because physicians believe in our product and our vision. We have thus decided to expand our Series A to $4M of capital raised.  We already have $750K of commitments from new and current physician investors to participate in this round." Girard went on to state, "The more physicians we have participating in our medical think tank, promoting the product with their colleagues, and investing in Fruit Street, the stronger our company will become."

Fruit Street was founded in May of 2014 and provides telehealth software to healthcare providers. Fruit Street software allows physicians to monitor the health, diet, and lifestyle of their patients through HIPAA compliant video consultations, wearable devices and mobile applications.

Fruit Street is a public benefit corporation, a specific type of corporation which allows social impact to be a charter purpose in addition to the traditional corporate call of maximizing profit for shareholders. The public benefit purpose and social mission of the company is to "Prevent and treat lifestyle related disease using telehealth, wearable devices, and mobile applications."

Fruit Street CEO Laurence Girard was recently featured in an article appearing in the Huffington Post, titled, "7 Reasons a Healthcare Software Startup Should Be Funded by Physicians, Not VCs" in which he spoke about this physician funding strategy. In that article, Girard explained that "At Fruit Street, we would prefer to raise $25 million of funding if needed from 500 physicians investing $50,000 each while benefiting from their advice, rather than having only a few venture capitalists as investors that gave us the same amount of investment."

Fruit Street has conducted one of the most successful physician crowdfunding campaigns in history. The company was founded in May of 2014 and has raised an average of $220,000 per month from physician investors via its LinkedIn campaigns since its inception.

This additional $4M of funding will be used to continue developing the product with its joint venture partner VSee. Earlier this year Fruit Street announced a strategic partnership with VSee which received much acclaim in the telehealth industry. VSee is the video engine found within Fruit Street and is the same video technology that NASA selected for use on the International Space Station for astronaut telemedicine.

Additionally, the funding will increase Fruit Street's digital advertising budget for sales and marketing initiatives, product development, and to fund telehealth clinical trials with the Fruit Street product to prove clinical and cost effectiveness of this model of healthcare delivery.

Raising its $4M Series A will bring Fruit Street's total funding to date to $7.4M which includes a previous $1.8M equity round and $1.6M round of long term debt from existing physician investors.

Fruit Street now has an international footprint with customers and investors in the United States, Canada, Australia, Singapore, Ireland, Mexico, and England.

About Fruit Street Telehealth
Fruit Street Telehealth is a public benefit company, licensing telehealth software to healthcare professionals allowing them to conduct HIPAA-compliant video consultations with their patients to monitor health, diet and lifestyle using medical/wearable devices and mobile applications. Fruit Street was co-founded by Laurence Girard and Dr. Milton Chen, PhD. Since its launch in 2014, Fruit Street has been recognized as one of the most innovative and transformational telehealth software products on the market. For more information, visit www.fruitstreet.com. For more information about Fruit Street, email [email protected] or call 347-943-6654.

To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/fruit-street-telehealth-raises-3m-and-expands-oversubscribed-series-a-to-4m-of-equity-financing-300370725.html

SOURCE Fruit Street Telehealth

More Stories By PR Newswire

Copyright © 2007 PR Newswire. All rights reserved. Republication or redistribution of PRNewswire content is expressly prohibited without the prior written consent of PRNewswire. PRNewswire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

Latest Stories
IoT is rapidly changing the way enterprises are using data to improve business decision-making. In order to derive business value, organizations must unlock insights from the data gathered and then act on these. In their session at @ThingsExpo, Eric Hoffman, Vice President at EastBanc Technologies, and Peter Shashkin, Head of Development Department at EastBanc Technologies, discussed how one organization leveraged IoT, cloud technology and data analysis to improve customer experiences and effici...
DevOps is being widely accepted (if not fully adopted) as essential in enterprise IT. But as Enterprise DevOps gains maturity, expands scope, and increases velocity, the need for data-driven decisions across teams becomes more acute. DevOps teams in any modern business must wrangle the ‘digital exhaust’ from the delivery toolchain, "pervasive" and "cognitive" computing, APIs and services, mobile devices and applications, the Internet of Things, and now even blockchain. In this power panel at @...
Get deep visibility into the performance of your databases and expert advice for performance optimization and tuning. You can't get application performance without database performance. Give everyone on the team a comprehensive view of how every aspect of the system affects performance across SQL database operations, host server and OS, virtualization resources and storage I/O. Quickly find bottlenecks and troubleshoot complex problems.
@DevOpsSummit taking place June 6-8, 2017 at Javits Center, New York City, is co-located with the 20th International Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry players in the world. @DevOpsSummit at Cloud Expo New York Call for Papers is now open.
In his session at 19th Cloud Expo, Claude Remillard, Principal Program Manager in Developer Division at Microsoft, contrasted how his team used config as code and immutable patterns for continuous delivery of microservices and apps to the cloud. He showed how the immutable patterns helps developers do away with most of the complexity of config as code-enabling scenarios such as rollback, zero downtime upgrades with far greater simplicity. He also demoed building immutable pipelines in the cloud ...
In IT, we sometimes coin terms for things before we know exactly what they are and how they’ll be used. The resulting terms may capture a common set of aspirations and goals – as “cloud” did broadly for on-demand, self-service, and flexible computing. But such a term can also lump together diverse and even competing practices, technologies, and priorities to the point where important distinctions are glossed over and lost.
As data explodes in quantity, importance and from new sources, the need for managing and protecting data residing across physical, virtual, and cloud environments grow with it. Managing data includes protecting it, indexing and classifying it for true, long-term management, compliance and E-Discovery. Commvault can ensure this with a single pane of glass solution – whether in a private cloud, a Service Provider delivered public cloud or a hybrid cloud environment – across the heterogeneous enter...
All clouds are not equal. To succeed in a DevOps context, organizations should plan to develop/deploy apps across a choice of on-premise and public clouds simultaneously depending on the business needs. This is where the concept of the Lean Cloud comes in - resting on the idea that you often need to relocate your app modules over their life cycles for both innovation and operational efficiency in the cloud. In his session at @DevOpsSummit at19th Cloud Expo, Valentin (Val) Bercovici, CTO of Soli...
Data is the fuel that drives the machine learning algorithmic engines and ultimately provides the business value. In his session at Cloud Expo, Ed Featherston, a director and senior enterprise architect at Collaborative Consulting, discussed the key considerations around quality, volume, timeliness, and pedigree that must be dealt with in order to properly fuel that engine.
Regulatory requirements exist to promote the controlled sharing of information, while protecting the privacy and/or security of the information. Regulations for each type of information have their own set of rules, policies, and guidelines. Cloud Service Providers (CSP) are faced with increasing demand for services at decreasing prices. Demonstrating and maintaining compliance with regulations is a nontrivial task and doing so against numerous sets of regulatory requirements can be daunting task...
Successful digital transformation requires new organizational competencies and capabilities. Research tells us that the biggest impediment to successful transformation is human; consequently, the biggest enabler is a properly skilled and empowered workforce. In the digital age, new individual and collective competencies are required. In his session at 19th Cloud Expo, Bob Newhouse, CEO and founder of Agilitiv, drew together recent research and lessons learned from emerging and established compa...
Join Impiger for their featured webinar: ‘Cloud Computing: A Roadmap to Modern Software Delivery’ on November 10, 2016, at 12:00 pm CST. Very few companies have not experienced some impact to their IT delivery due to the evolution of cloud computing. This webinar is not about deciding whether you should entertain moving some or all of your IT to the cloud, but rather, a detailed look under the hood to help IT professionals understand how cloud adoption has evolved and what trends will impact th...
"IoT is going to be a huge industry with a lot of value for end users, for industries, for consumers, for manufacturers. How can we use cloud to effectively manage IoT applications," stated Ian Khan, Innovation & Marketing Manager at Solgeniakhela, in this SYS-CON.tv interview at @ThingsExpo, held November 3-5, 2015, at the Santa Clara Convention Center in Santa Clara, CA.
Whether your IoT service is connecting cars, homes, appliances, wearable, cameras or other devices, one question hangs in the balance – how do you actually make money from this service? The ability to turn your IoT service into profit requires the ability to create a monetization strategy that is flexible, scalable and working for you in real-time. It must be a transparent, smoothly implemented strategy that all stakeholders – from customers to the board – will be able to understand and comprehe...
Everyone knows that truly innovative companies learn as they go along, pushing boundaries in response to market changes and demands. What's more of a mystery is how to balance innovation on a fresh platform built from scratch with the legacy tech stack, product suite and customers that continue to serve as the business' foundation. In his General Session at 19th Cloud Expo, Michael Chambliss, Head of Engineering at ReadyTalk, discussed why and how ReadyTalk diverted from healthy revenue and mor...