TimelyMD, a US-based full-service telehealth provider focused on colleges and universities, announced that it has received a $60 million investment from JMI Equity (“JMI”).
The company will use the funding to enhance students’ virtual care experience, improve health literacy at partner schools, improve student outcomes through technological innovation, and grow its team to meet market demand, according to a press release.
Founded in 2015, TimelyMD offers universities and colleges full-service telehealth services. It provides a solution to higher education that includes on-demand medical, immediate and scheduled mental health counseling, psychiatry and health coaching services, all designed specifically for students and offered at no cost to them, without traditional health insurance involved.
TimelyMD has experienced unprecedented growth as the demand for telemedicine and teletherapy increased exponentially during the COVID-19 pandemic. The need for mental health and well-being support services is expected to continue as 75% of college students report consistently high stress and anxiety levels.
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