Digital health company League has now raised an additional $95 million for its quest to build the leading digital platform for integrated healthcare following its latest funding round, the company said on Tuesday. The Series C funding brings the league's total funding to more than $205 million, the company said.
The latest round of funding was led by TDM Growth Partners, with participation from Workday Ventures and other anonymous existing investors.
With offices in Toronto and Chicago, League builds the operating system on which payers, providers, healthcare companies and employers can build their apps to increase consumer engagement and personalization.
"Time and again, point solutions inevitably give way to platforms," said Michael Serbinis, League founder and CEO, in a statement.
He said this development accelerates innovation and enables interoperability and economies of scale.
“Providers, payers, consumer healthcare partners and employers use the League platform to create unique and differentiated apps that transform healthcare from a patchwork of disparate point solutions into a cohesive experience that just works,” said Serbinis.
League says it has hundreds of customers ranging from Humana to Shopify. Its platform is built on the Fast Healthcare Interoperability Resources (FHIR) standard and leverages the Google Cloud Platform Healthcare API to provide a "gateway" to healthcare for millions of consumers, the company said.
Meanwhile, the press release seems to indicate that League would ultimately like to go public. While a representative didn't respond as to whether an IPO is in the works, consider the statement from the round's lead investor:
"We are proud to play a part in the League's vision for the future of healthcare and healthcare transformation," said Jess Bell-Allen of TDM Growth Partners in the League's press release announcing the latest round of funding. "We value and understand the scaling journey of pre-IPO companies and what it takes to create a successful transition to the public markets."
TDM is an investor in Slack, Twilio, and Square, all companies that have gone public. Slack went public in 2019 before being bought by Salesforce in 2020, Twilio went public in 2016, and Square had its IPO in 2015.
