American rapper Jay-Z, AKA Mr. Beyoncé, has joined a $42 million investment in K Health, an Israeli startup which develops a mobile app that uses AI to deliver personalized primary care. So now even rap stars are getting in on the potential windfalls from investing in Startup Nation.
The $42 million is part of K Health’s fourth round of funding. JAY-Z’s money came through his Marcy Venture Partners. The round was led by Valor Equity Partners. Other investors who participated in the round include, PICO Venture Partners, Atreides Management, and existing backers Max Ventures and 14W.
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Most people do not like going to the doctor. They have an irrational fear of finding out that there is a serious problem, or they just don’t like how doctors tend to withhold information because they assume that their patients would not understand. And if you look for medical information on line you will probably be overwhelmed by too many possible sources, some of which contradict each other, and in the end not even find out what you wanted to know.
K Health offers its users health information based on the health experiences of people similar to theirs. The company describes this as a dynamic cluster of people that it calls People Like Me, or PLM. K Health also provides primary care and mental health services so that people can begin treatment for conditions right from their own home.
— K Health (@khealth) November 18, 2020
The company states that it puts personalized health information and quality care at everyone’s fingertips, using a global team of doctors and developers who turn clinical health data into knowledge that can help people better manage their health.
Founded in 2016, K Health is based in New York and Tel Aviv. It currently has more than 4 million users.
“The new investment will allow us to continue developing our product, as we provide an answer for the unprecedented demand, which has grown by 1,000% in the last year alone,” said K Health co-founder and CEO Allon Bloch.
Bloch said that he started K Health after the poor experience he had when his father was ill. Ten years ago Allan Bloch’s father had a stroke and he had a difficult time getting the proper information. One thing that Bloch realized, though, was that it was easier for his father to find out from the doctors all about what could have prevented his stroke after the fact than it was before the stroke hen such information would have been useful.
“In a world rightfully skeptical about new companies making bold claims about improving healthcare, we think it’s important to be hyper-transparent about what we’re doing, why we’re doing it, and how it all works,” says Bloch.
“Everyone at K has a personal story about how they or a loved one could have benefitted from this type of information and care—and we expect you do too. Come with us and peek under the hood to understand how K works and why it’s the most reliable starting point for taking control of your health.”