Wheel Secures $13.9M Series A Financing

Wheel, a digital health company building the infrastructure required for virtual care to realize its full potential, launched today with a $13.9 million Series A funding round. A first-of-its-kind enterprise, Wheel provides healthcare companies with the tech-enabled platform required to scale virtual care offerings compliantly, and access to a flexible workforce of specialized virtual care clinicians — creating a new way of working and of delivering virtual patient care. The round was led by CRV, with participation from Tusk Venture Partners and Silverton Partners.

Wheel is a tech-enabled marketplace that serves two sides of an evolving industry, helping both healthcare companies and clinicians improve the experience and quality of virtual care. Its core offering is a virtual care workforce and technology platform that matches the right clinician to the right patient. Formerly known as Enzyme Health, Wheel already boasts a track record of success:

For companies, from new or growing telehealth providers to established organizations now entering healthcare, Wheel provides a tech-enabled platform powered by a scalable, nationwide network of clinicians specializing in virtual care.

For clinicians who are passionate about providing quality patient care and want more freedom and balance in their careers, Wheel creates a simpler connection to more virtual opportunities with meticulously vetted companies, as well as specialized training in Webside Manner™.

"The telehealth market is shifting rapidly from simply replicating doctor-patient visits over the phone and web to a broader spectrum of virtual care. While virtual care offerings are booming, it's often difficult for these companies to recruit, train and manage their clinician network," said Kristin Baker Spohn, Venture Partner at CRV. "We invested in Wheel, because they provide companies with a flexible and reliable workforce of clinicians, and the tech-enabled platform to empower these clinicians to practice quality care at scale."

"We created Wheel to change the way healthcare works – because, ultimately, happier clinicians make healthier patients," said Michelle Davey, CEO and Co-Founder, Wheel. "With a clinician-shortage crisis looming, virtual care can make a tremendous impact on patient access and care delivery. At Wheel, we believe that by building the infrastructure that powers healthcare's digital revolution and championing clinicians on the front lines of patient care, we will create the momentum needed to move the industry forward," she added.

Davey and co-founder Griffin Mulcahey, Chief Compliance & Strategy Officer, founded Wheel in 2018 to address a significant unmet need in the emerging digital health sector by providing a marketplace for companies to find qualified clinicians. After working with companies across the industry, a deeper need for innovation became clear: to build the infrastructure required for a new way of working and delivering patient care — making clinicians more efficient and empowered through education and training, and ensuring the right clinician could be matched with the right patient on demand.

"Making virtual care services safe and accessible is crucial to public health, and that requires protecting not only patients, but the practicing clinicians who make healthcare possible," said Rafid Fadul, MD, Chief Medical Officer, Wheel. "We're creating a new workforce configuration that improves outcomes for everyone: clinicians, companies and patients."

To learn more about Wheel, visit www.wheel.com.

ABOUT WHEEL
Wheel, a digital health company building the infrastructure required for virtual care to realize its full potential, addresses two key industry challenges with a proprietary technology platform. For healthcare companies, Wheel provides access to a flexible, curated network of clinicians specially trained in Webside Manner™, powered by tech-enabled workforce management to mobilize and scale virtual care rapidly and compliantly. For clinicians, Wheel creates a simpler connection to more virtual opportunities with meticulously vetted companies, bringing the future of work to healthcare. By enabling the digital health industry to thrive, Wheel improves the experience and quality of care for patients. To learn more about Wheel, visit www.wheel.com.