Primary care startup Forward Health is looking to expand its tech-powered, personalized healthcare model across the U.S., and will use a new $225 million Series D raise to help make it happen. The new capital comes from Founders Fund, Khosla Ventures, SoftBank, Mark Benioff – and recording artist The Weeknd – among others. Forward Health co-founder and CEO Adrian Aoun says about his company’s plans for this fresh capital.
Aoun and his co-founders created Forward Health with the idea of building a healthcare business that’s aligned with its customers in terms of incentives, which is why they sidestepped insurance altogether. That’s led to a focus on customer service and long-term patient relationships and outcomes, which Aoun says are stronger because they’re not bound by an individual’s relationship with their employer, for instance, which is often the case when an employer foots the bill for healthcare via company-provided insurance.
But when long-term healthcare programs, like lifestyle shifts that can lessen the potential of truly dangerous outcomes like heart disease and cancer, come into play, an employer who expects you to stick around for a few years at most is far less incentivized to want to fund that. Forward Health, which aims to attract subscribers and, for lack of a better term, minimize churn, actually is incentivized to make those long-term outcomes positive for everyone who comes through the door.