Athelas, a remote patient monitoring startup, is now valued at more than $1.5 billion, according to a blog post Monday.
After raising more than $132 million over two funding rounds led by venture capital firms General Catalyst and Tribe Capital, the company reached unicorn status. Greenoaks, Human Capital, Initialized Capital, Sequoia Capital and YCombinator also invested.
Athelas pitches itself as an all-in-one solution for hospitals, health systems and small practices looking to use remote patient monitoring to lower costs and improve outcomes. It has experienced rapid growth in the past year, making it the largest remote patient monitoring company in the nation.
“Athelas has been making steady progress in proving the impact that RPM can have in helping providers serve their chronic patients in their homes,” Hemant Taneja, managing partner at General Catalyst, said in a news release.
The company also announced that Taneja had joined its board of directors. Arjun Sethi of Tribe Capital and Sequoia’s Alfred Lin will also advise the company but not join Athela’s board.
Venture capitalists invested $9.5 billion in telehealth, including telemedicine and remote monitoring, in 2021, according to data from Digital Health Business & Technology. It received more funding than any other digital health category, accounting for nearly a third of the $30.6 billion in funding raised last year.