Oshi Health Secures $60M in Series C Funding
New York-based Oshi Health, a digital GI health company, has secured $60 million in Series C funding. The round was led by Oak HC/FT with participation from CVS Health Ventures, Flare Capital Partners, Takeda Digital Ventures, Bessemer Venture Partners and First Cressey Ventures.
The company plans to use the funding to continue developing solutions for patients with gastrointestinal (GI) issues. Their approach? Connecting these patients virtually to a team of providers including a gastroenterologist, behavioral health clinician, dietitian, and health coach.
The company supports patients with Crohn’s Disease, irritable bowel syndrome (IBS) and ulcerative colitis. It also offers a symptom-tracking tool and instant messaging with providers.
The company was founded in 2020, quickly pulling in $23 million in Series A funding. In 2023, an additional $30 million in Series B funding was secured alongside a partnership with CVS Health. These moves have enabled Oshi to deliver their virtual GI support platform as an in-network provider in select states.
In addition to further development, Oshi will use the funds to expand its partnerships with provider groups and new employers. It will also work to grow its coverage among payers and expand into Medicare populations starting in 2025.
Are you developing new technology for an existing application? Did you know your development work could be eligible for the R&D Tax Credit and you can receive up to 14% back on your expenses? Even if your development isn’t successful your work may still qualify for R&D credits (i.e. you don’t need to have a patent to qualify). To find out more, please contact a Swanson Reed R&D Specialist today or check out our free online eligibility test.
Who We Are:
Swanson Reed is one of the U.S.’ largest Specialist R&D tax advisory firms. We manage all facets of the R&D tax credit program, from claim preparation and audit compliance to claim disputes.
Swanson Reed regularly hosts free webinars and provides free IRS CE and CPE credits for CPAs. For more information please visit us at www.swansonreed.com/webinars or contact your usual Swanson Reed representative.
