Health technology company Color was launched in 2015 with a focus on genetic testing and precision genomics.
The company has expanded its capabilities to focus on improving key health infrastructure systems across the United States, including those related to the “last mile” delivery of COVID-19 vaccines.
The Burlingame, Calif.-based company is now looking to use the infrastructure built during the pandemic to increase access to essential health services to screen, diagnose and treat people where they are, such as in their workplaces. or at school.
Color has raised $100 million in Series E funding to accelerate the expansion of accessible and equitable public health infrastructure, company executives announced Tuesday.
Color has raised $378 million to date, and the latest funding round brings the company’s valuation to $4.6 billion, according to the company. Kindred Ventures led the round with select funds and accounts advised by T. Rowe Price Associates, Inc. Existing investors General Catalyst, Viking Global Investors and Emerson Collective also participated in the round.
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Color’s business is now profitable, according to Color’s chief financial officer, Mike Herring, in a statement.
“What we have built will serve as an essential piece of public health infrastructure to provide access to health services to those who need them most,” Color CEO Othman Laraki said in a statement. “We have learned that there is an exponential increase in people’s ability to use these services as they become simpler and more convenient. Public health should happen where public life happens.”
Color will build on its model to deliver new programs that provide the last mile of care through essential health services, including immunization and preventative health services for schools and employers, as well as management programs infectious diseases for public health facilities, company executives said.
The company will also continue to offer its genetic testing and counseling services as part of its preventative health offerings.
The combination of existing offerings and new services expands the company’s work in building public health technology and infrastructure for governments, employers and other institutions that serve large populations.
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Over the past two years, Color has implemented healthcare delivery programs in 16 states and at the federal level with the National Institutes of Health for employers, governments and school systems.
In response to the COVID-19 pandemic, the company has partnered with more than 100 major employers and universities to offer critical testing programs. Color currently operates the nation’s largest COVID-19 testing program for K-12 schools and has supported more than 6,500 testing sites and 500 vaccination sites across the country.
The company will expand many of these sites for other health care purposes, such as administering flu shots and blood pressure tests.
Color has also signed partnerships with public and private institutions such as Thermo Fisher Scientific, PerkinElmer, Salesforce, the Teamsters Union, the State of California and the Massachusetts Executive Office of Health and Human Services to enable large populations to receive health services directly where they live or work. Color has partnered with nearly 1,000 organizations, including public health departments, universities and employers, to provide access to fast, reliable and convenient healthcare services.
“Color is poised to further transform the way we deliver public health in this country with speed and at scale,” Steve Jang, founder and managing partner of Kindred Ventures, said in a statement.
“Just as we have seen digital transformations in other parts of our lives, the distributed network approach Color has built will improve our healthcare experience in the future. The hosted software and data infrastructure provided by Color have created a new normal: all essential care must be accessible, decentralized and delivered instantly within businesses, schools and communities,” said Jang.