One Medical raises $65M to expand to other markets

One Medical app

Technology-enabled primary care provider One Medical Group raised $65 million in a round led by J.P. Morgan Asset Management on behalf of PEG Digital Growth Fund II L.P. and AARP Innovation Fund L.P. Current and new institutional and individual investors also participated.

The funding news comes after a year of record growth for One Medical, including the addition of over 80,000 new members and expansion of the company’s enterprise client base to over 150 organizations, with clients such as Adobe, Airbnb, GoDaddy, Lyft, Percolate, and the Arizona Diamondbacks.

“One Medical is committed to improving the quality, service and affordability of health care,” said Tom Lee MD, founder and CEO of One Medical Group. “By using technology and a patient-centered approach, we’re able to care for individuals and populations more thoughtfully, while also lowering total healthcare costs.”

The company will use the funds to expand into additional markets across the U.S. as well as to invest in its enterprise solutions and mobile technology platform. One Medical already offers same-day appointment booking, prescription renewals, messaging and digital dermatology, and plans to further expand its digital health offering.