Health Care Startup General Medicine Secures $120M in Series B Funding

General Medicine, a San Francisco, CA-based provider of a nationwide healthcare store platform, has secured $120 million in a Series B funding round, led by Andreessen Horowitz (a16z), bringing the total amount to $152 million.

The round also saw participation from Matrix, VXI Capital, Eli Lilly and Company, Mercy Health through Granger Management, and BoxGroup.

The company will use the funding to expand its healthcare store into more categories of care.

What is General Medicine?

General Medicine operates a nationwide healthcare store that organizes care around what patients need rather than traditional medical specialties.

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Customers can search, compare and purchase healthcare services directly, including medications, laboratory tests, telehealth, specialist e-consults and selected in-person visits and procedures.

The platform has a catalog of more than 2,900 healthcare products and services. Customers can also see insurance and cash prices before making a decision.

Users can find care by searching and comparing services, speaking with a licensed clinician or using General Medicine’s AI chat to explore symptoms, health goals and available options.

How Much Funding Has General Medicine Raised?

General Medicine has raised $120 million in its latest Series B funding round.

The latest round brings the company’s total funding to $152 million.

The source does not provide details about previous funding rounds.

Who Invested in General Medicine’s Series B Round?

The $120 million Series B round was led by Andreessen Horowitz (a16z).

Other participating investors include:

• Matrix
• VXI Capital
• Eli Lilly and Company
• Mercy Health through Granger Management
• BoxGroup

Why the Funding Matters

General Medicine plans to use the new funding to expand its healthcare store into more categories of care.

The company is building infrastructure that allows customers to compare healthcare options, understand pricing and receive clinical guidance through the same platform.

Its product catalog also creates common definitions for healthcare services that can be described differently by customers, clinicians, insurers, laboratories and health systems.

Who founded General Medicine?

General Medicine was founded in 2023 by TJ Parker, Elliot Cohen and Ashwin Muralidharan.

The company is headquartered in San Francisco, California.

"Everyone's building a healthcare AI agent that can tell you what you might need. What's missing is the infrastructure that lets you actually get it," said TJ Parker, Chief Executive Officer, General Medicine. "We're entering a world where advice is abundant, but acting on it is still an enormous hassle.

"The United States has extraordinary doctors and clinical care. But it's unbelievably convoluted to get what you need, when you need it," said Elliot Cohen, President, General Medicine. "When a customer can actually see their options and the price, the rest of the system has to compete, instead of the customer trying to navigate a system not built for them.

Market and Business Growth

Hundreds of thousands of customers have signed up for General Medicine across the U.S., and the company reports an average NPS of 80.

According to the company, 83% of customers said General Medicine helped them address a health need they had been putting off. One-third of those customers had delayed care for more than six months.

The company’s catalog includes more than 2,900 products and services across medications, labs, telehealth, specialist e-consults and selected in-person care.

What Happens Next?

General Medicine plans to expand its healthcare store into additional categories of care.

The company will continue developing its platform for searching, comparing and purchasing healthcare while expanding access to clinician guidance and AI-powered tools.

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