Hazel Health Series-C

This is the Hazel Health pitch deck to raise a $33.5m series-c round in 2020.

About

Hazel Health is a healthcare company that improves the health and well-being of students by increasing access to healthcare.

It partners with schools and nurses, supporting student health to keep them healthy and ready to learn. With Hazel, students can talk with a doctor over the video, and get the care they need whether they are at home or in school. Its doctors provide treatment for a wide range of conditions. They can prescribe over-the-counter medicine at school with parent approval, or call in prescriptions.

Hazel Health wants to bring virtual care to grade schools.

Hazel Hazel works with school districts to provide video visits for kids that are reimbursed through the family’s insurance. It also makes money directly from programs funded by schools and, in some states, Medicaid.

The company also has a few grants to finance telehealth visits students who are uninsured. Hazel currently has 1.5 million students enrolled in its care service for schools.

In September, Hazel raised $33.5 million in funding from investors including Centene, a $32 billion insurer. With the new funds, the startup says it can reach 30 million students in states like Florida, New York, Washington, and Illinois where it doesn’t have existing infrastructure.

Since June, Hazel has grown by 400%, adding about 1 million students to the network, it said. while finding itself taking on two new roles: Reaching students in their homes for the first time, and advising their schools on testing and how to reopen safely while coronavirus outbreaks continue.

Hazel cofounder and chief technology officer Nick Woods said the company became somewhat of a “virtual chief medical officer” for schools facing uncertain times.

“Schools are struggling right now,” Woods said.

What won investors over 

The coronavirus pandemic prompted the company to build its first consumer-facing product, a telehealth service available in homes and not just nurses’ offices.

That, along with sign-ups from new school districts, led some key investors to get on board, Hazel CEO Josh Golomb said. Owl Ventures, Bain Capital Ventures, Centene, and UCSF Foundation Investment Company all backed the five-year-old startup in its Series C round in September.

Hazel’s work with Medicaid, the state and federal program that pays for medical care for some low-income Americans, played a big role in winning over Centene, since it’s the largest Medicaid insurer.

Others were brought in by Hazel’s user experience, which hints at Woods’ background in iOS engineering for Apple. To raise the round, Hazel did more remote pitches and demos with investors.

That allowed the product to resonate as something special and different because of Woods’ design, Golomb said.

“There’s terrible software in healthcare,” Woods said. “We wanted to make something that was beautiful and easy to use.”

Funding rounds

Pitch deck review summary

Slide by slide review

” Some financial information has been excluded”

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