Eucalyptus, an Australia-based virtual health startup, has raised $43 million in new financing, according to a blog post on Wednesday.
Venture capital firm Bond led the Series C funding round, with additional investment from Airtree, Athletic Ventures, Blackbird, NewView and OneVentures. Eucalyptus plans to use the money to develop its technology and hire more staff.
The company has handled more than half a million consultations to date across its five health and wellness brands: Pilot, Kin, Software, Normal and Juniper. Those brands largely focus on men's health, women's health and sexual wellness.
Eucalyptus plans to expand into chronic disease management in the future. A growing number of digital health startups are focusing on chronic disease care, hoping to gain a foothold with providers and insurers and the large share of healthcare spending that comes with them.
Telehealth companies raised $9.5 billion in venture capital funding last year, according to data from Digital Health Business and Technology. That’s nearly a third of the $30.6 billion in VC funding raised by digital health companies in 2021.
