Sprinter Health Secures $55M Funding for At-Home Healthcare Expansion

A New Approach to Preventative Healthcare: Sprinter Health

During the pandemic, Max Cohen and Cameron Behar collaborated to establish a startup, strategically focusing on the healthcare industry – a sector of paramount importance at the time.

Neither Cohen nor Behar possessed prior experience within the healthcare field, having previously worked at Google and Facebook. Consequently, they dedicated significant effort to identifying a meaningful contribution they could make to this rapidly evolving sector.

Addressing the Limitations of Telehealth

While telehealth experienced substantial growth during those years, the founders acknowledged that remote care isn't universally accessible to all patients.

To address this unmet need, Cohen and Behar developed Sprinter Health. This company provides preventative healthcare services directly in patients’ homes, including blood draws, diabetic retinopathy screenings, and colorectal cancer detection.

The startup’s primary objective is to proactively serve and re-engage individuals who are not regularly utilizing the healthcare system, thereby promoting long-term wellness.

Rapid Growth and Expansion

Founded four years ago, Sprinter Health has demonstrated significant expansion. Currently operating in 18 states – an increase from five in 2023 – the company has reported a six-fold increase in revenue over the last year, according to Cohen.

This impressive growth trajectory has facilitated the securing of a $55 million Series B funding round, spearheaded by General Catalyst.

Existing investors, including Andreessen Horowitz, the Regents of the University of California, Google Ventures, and Accel, also participated in this funding round, bringing the total funding raised to $125 million.

The Power of Optimized Logistics

The core of Sprinter Health’s success lies in its sophisticated technology-driven logistics system.

This system optimizes routes and schedules for its clinical professionals, who are phlebotomists also trained as medical assistants, and community health workers.

“Our priority is maximizing the time our employees spend with patients, minimizing time wasted on travel,” Cohen explained.

The company’s route simulator considers factors like traffic conditions, weather patterns, and parking availability to enable its clinical staff – referred to as “sprinters” – to serve up to 12 patients each day.

Unit Economics and Sustainability

“Many home-based care companies have struggled due to the difficulty of achieving positive unit economics when deploying personnel in the field,” stated Julie Yoo, a general partner at a16z.

“Without highly efficient operational systems, building a sustainable and enduring business proves challenging.”

Yoo, who serves on Sprinter Health’s board, drew a comparison between the company’s business model and those of Instacart and DoorDash.

Like these food delivery services, Sprinter Health must efficiently serve a large customer base to maintain strong gross margins.