MyHealthTeams, the San Francisco startup that runs thirteen social networks for people facing chronic conditions, has closed its series B financing raising just over $5 million. CVS Health led the round with participation from Adams Street Partners, the Westly Group, HealthTechCapital and Sand Hill Angels. With this fresh capital, the company has raised a total of $10.14 million to date.
"In the past 18 months MyHealthTeams has tripled our user base, expanded to serve 13 different chronic-disease communities across 8 countries, and proven you can build a great business while doing something that helps people," said Eric Peacock, CEO of MyHealthTeams. "With this financing, we are well-positioned to rapidly expand beyond our initial 13 social networks and reach a much greater audience of people facing each of those conditions."
Co-founded by Eric Peacock and Mary Ray, MyHealthTeams recently launched social networks in Diabetes and Parkinson's disease, and plans to launch new networks for both the hemophilia and Alzheimer's communities this year. Overall, these sites have more than 300,000 members from 8 countries.