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Grand Rounds takes another $40M for expert doctor referral service

Grand Rounds founders Lawrence “Rusty” Hofmann, MD, and Owen Tripp.

Above: Grand Rounds founders Lawrence “Rusty” Hofmann, MD, and Owen Tripp.

Image Credit: VentureBeat

The business of connecting patients with leading medical specialists is growing.

San Francisco-based Grand Rounds, which offers several services to connect patients to the right physician, is the latest evidence of that growth. It’s just taken in another $40 million to extend its offerings.

The new capital, which includes contributions from existing investors Venrock and Harrison Metal Capital, will help Grand Rounds make its service available to far more people (its goal is 5 million), through contracts with their employers. The company says it will also use the money to develop new products, open new distribution channels, and expand its mobile capabilities.

The company just signed a big deal with Castlight Health, in which it will offer its physician access services through the healthcare product marketplaces Castlight builds for big employers.

Between that arrangement and its other contracts, the Grand Rounds service is now available to more than a million people, the company says.

Grand Rounds offers three main products. Grand Rounds Opinions lets patients get a second opinion on a diagnosis or treatment plan from some of the top specialists around the country. Grand Rounds Office Visits is a referral service that pairs consumers with the top physicians in their area and sets up an appointment. Grand Rounds STAT allows people hospitalized for a serious illness to connect their doctors with top medical specialists around the country to discuss diagnoses and treatment plans.

Jamba Juice is one of the large companies Grand Rounds signed up in early 2014. “Because we are able to get our employees to the right physicians when they need it most, we are able to provide an innovative benefit that can potentially be life-changing for themselves and their families,” said Jamba Juice president and CEO James D. White in a statement.

Grand Rounds has now raised more than $51 million in investment money.

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