Telehealth Startup SteadyMD Raises $6M Series A

St. Louis-based telehealth startup SteadyMD has raised $6 million in a Series A round, the company announced Thursday.

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SteadyMD matches patients with doctors who practice primary care, pediatrics and functional medicine, according to a statement from the company. Patients are able to form long-term relationships with their doctors and have access to medical assistants who can help with things like lab orders, prescriptions and referrals to specialists.

Patients can talk to their doctors over the phone, video or text. Pricing for an individual plan is $99 per month, with a family plan starting at $178 per month, according to the company’s website.

“The coronavirus has shown the importance of a solid primary care foundation with a doctor who knows their patient’s history and is familiar with their lifestyle and conditions,” CEO Guy Friedman said in a statement. “SteadyMD is on a mission to provide a dedicated relationship between a member and physician, for anyone who wants access to care, anywhere in the world.”

Pelion Venture Partners and Next Ventures  led the new round, with participation from Crosscut Ventures, M25, First Trust Capital Partners and others. SteadyMD has its headquarters in St. Louis, but also has a presence in Los Angeles.

The funding announcement comes just as news that the Federal Communications Commission approved a $200 million program to fund telehealth services for hospitals and other medical providers. The program, which is part of the $2 trillion CARES Act, allows hospitals to apply for up to $1 million for telehealth-related functions.

“With the adoption of the $200 million COVID-19 Telehealth Program,” FCC Chairman Ajit Pai said in a statement, “the FCC can now take immediate steps to provide funding so that more patients can be treated at home, freeing up valuable hospital beds for those who most need them and reducing the risk of exposure to the virus.”

Illustration Credit: Li-Anne Dias

Editor’s Note: Due to new information provided by the company, this article was updated to reflect that Next Ventures co-led the round with Pelion Venture Partners.