News

Telehealth provider Teladoc secures $50M in funding to fuel growth

BY Antoinette Alexander

DALLAS — Telehealth provider Teladoc has secured a $50 million round of equity funding led by Palo Alto, Calif.-based Jafco Ventures, a technology venture capital firm.

“Teladoc has experienced phenomenal growth. After doubling revenue in each of the last two years, we look to accelerate this trend,” stated Jason Gorevic, CEO of Teladoc. “This sizeable investment will allow us to quickly develop new products and services that deliver additional value for our customers while simultaneously expanding into new markets and distribution channels. Our goal is to extend our significant lead in the industry such that Teladoc is the de facto brand in Telehealth.”

Teladoc stated that it will continue to pursue growth organically and through additional strategic partnerships and targeted acquisitions. The company is anticipating record-setting growth in January 2015 on the heels of its strongest selling season ever.
 
This year, Teladoc is on target to complete more than a quarter-million medical consults across the United States while continuing to maintain an average physician callback time of less than 16 minutes. Teladoc services are used by some of the country’s largest companies and health insurers including Blue Shield of California; Cash America; Gallup; Highmark, Inc.; Ignite Restaurants, the holding company for Romano’s Macaroni Grill, Brick House Tavern + Tap and Joe’s Crab Shack; Rent-A-Center; and T-Mobile.

Jafco is joined by other new investors, including FLAG Capital Management, Greenspring Associates, Mellon and QuestMark Partners, as well as its current investors Cardinal Partners, HLM Venture Partners, Kleiner Perkins Caufield and Byers, New Capital Partners and Trident Capital to complete Teladoc’s $50 million round of funding.
 

keyboard_arrow_downCOMMENTS

Leave a Reply

No comments found

TRENDING STORIES

Polls

Which area of the industry do you think Amazon's entry would shake up the most?
News

Sandoz launches Kerydin topical solution

BY Ryan Chavis

PRINCETON, N.J. — Sandoz announced the launch of Kerydin (tavaborole) topical solution, 5% in the United States. Kerydin is the first oxaborole antifungal for the topical treatment of onychomycosis of the toenails due to trichophyton rubrum or trichophyton mentagrophytes, the company stated. 
 
"Kerydin is an important product addition in PharmaDerm’s portfolio and helps to reinforce our leadership in the topical dermatology specialty market,” said Peter Goldschmidt, president of Sandoz.
 
The drug was developed by Anacor Pharmaceuticals. Sandoz earlier this year announced an agreement with the company to obtain exclusive rights to commercialize Kerydin in the United States. 
keyboard_arrow_downCOMMENTS

Leave a Reply

No comments found

TRENDING STORIES

Polls

Which area of the industry do you think Amazon's entry would shake up the most?
News

BolognaFiere takes closer look at American beauty market with first ‘New York Symposium’

BY Antoinette Alexander

NEW YORK — Cosmopack, a trade fair for the beauty industry’s production chain and part of Cosmoprof Worldwide Bologna, made its New York City debut on Monday at the Trump Soho Hotel as international beauty players analyze the potential for growth in the American market.

The two-day event, dubbed the “Cosmopack New York Symposium,” is a networking and training workshop involving 50 International companies.

“We felt the need to organize this symposium because we strongly believe in the development of the American market for Italian and European firms manufacturing and supply the most advanced technological and creative solutions within the beauty industry for some of the biggest companies worldwide, including a large number of American businesses,” stated Duccio Campagnoli, president of BolognaFiere.

Campagnoli noted that BolognaFiere already has a foothold in the American market with Cosmoprof North America, which it organizes in partnership with the Professional Beauty Association.

“The U.S. market is the third largest in the world after Brazil and China and we think it is important to create a platform for the East Coast, where the biggest American businesses in the sector manufacturer their products,” Campagnoli stated.

One highlight from Monday’s agenda included a panel discussion, called “View From the Top: The Recipe For Success,” which brought together top executives representing five different beauty companies to discuss the role of new unique packaging, formula or delivery systems in the overall strategy and success of a brand.

Panelists included:

  • Robb Akridge, SVP and global GM of Clarisonic
  • Elana Drell Szyfer, CEO of Laura Geller Beauty
  • Jane Iredale, president of Iredale Cosmetics
  • Anastasia Soare, CEO and founder of Anastasia Beverly Hills
  • Kyan Feyzgiu, GM of Gotha Cosmetics

When asked to share key points on achieving success within the industry, Szyfer said, “[Laura Geller] found a product, a technology of baked powder, foundation, color correcting that didn’t look like anything else out there. She understood what it did for her clients and she was going to tell that story on TV and anywhere that she could. I think the message and the lesson is that sometimes things that are very new and very differentiated really can break apart and then set a course for an entire industry.”

Added Iredale, “We are 20 years old this year. We started with a company of one. I think what got us through, and believe me when I tell you that no one was buying our products in the beginning because of the packaging because it looked terrible, but I had a strong, strong belief in what was inside the packaging. That authenticity created a message around the brand that really connected with the consumer. … That would be my message is that authenticity trumps almost everything.”

Wrapping up the discussion, panelists were asked to impart one piece of wisdom to which Feyzgiu said, “I would definitely say to globalize more. Italy has a big problem in opening up to foreign employees. They like Italian employees. … So open your doors to foreign employees as they will bring a lot of assets. They will help you enter the U.S. market. … Second, lower the average age by betting on talent. Give the younger people a chance.”

 

keyboard_arrow_downCOMMENTS

Leave a Reply

No comments found

TRENDING STORIES

Polls

Which area of the industry do you think Amazon's entry would shake up the most?