Dallas home healthcare startup PediaQ has raised $4.5 million in bridge round of funding that will help expand its footprint and the services within its mobile application.
With the new funding, all of which came from Texas investors, the company plans to make its on-demand pediatric house calls available to communities including Rockwall, Heath, and Mansfield. In fall, it plans to launch in Austin, which will mark the company’s third market. It entered Houston earlier this year. The funding also will help fuel PediaQ’s video consultation services, which launched across DFW and Houston this month.
“When we built our platform we built it so you could add additional services,” said Jon O’Sullivan, PediaQ CEO, adding that the team leveraged video as the next addition. “It was something there seemed to be a demand for so we were able to offer that.”
The latest bridge round follows the $1.2 million seed round the company raised late last year from investors including Bill Miller of KKR Advisors, Jack Furst of Oak Street Investors and HM Capital, and Gary Gerlacher, founder of Acute Kids Pediatric Urgent Care. The bridge round included investment from one of Dallas-Fort Worth’s newest investment funds, Deep Space Ventures.
Since launching in September 2015, PediaQ has completed more than 2,500 house calls on its Q.care platform. It also has partnered with BlueCross BlueShield, United Health, and Aetna to become an in-network service provider. Its team comprises 10 fulltime employees plus seven marketing directors, each serving their respective communities, and 19 nurse practitioners, seven of which work full time. O’Sullivan expects to bolster PediaQ’s technology development and sales staff with the new capital.
It’s currently in conversations with health care systems in Houston, Austin, and some on both coasts to demo its model for them. The startup’s ultimate goal is to serve as a white label on-demand platform for health care systems.