American Well Corp. drummed up $10 million through an equity offering to a single, unnamed investor, just a year after landing nearly $24 million through a stock sale to a pool of 50, according to filings with the federal Securities and Exchange Commission.
Boston-based American Well is developing web-enabled, on-demand healthcare services that allow people to set up online appointments with their physician. The service allows patients to connect to their doctors and helps the physicians get reimbursed through insurance for the appointments.
The company, founded in 2006, is the third healthcare technology venture started by Ido and Roy Schoenberg. No information was given as to how the company plans to use the proceeds.
Last October, American Well raised about $24 million through a private stock sale to a pool of about 50 investors. Some of those investors were represented by Jeb Terry, president of Aberdeen Investment Management Inc. of Dallas.
Terry told MassDevice that neither he, nor the investors he advised, took part in the latest round. But he wasn’t surprised that the company wanted to raise more capital.
Terry told us he’s also invested in other ventures started by the Schoenbergs.
“I’ve followed their subsequent ventures closely and I’m very excited about what they’re doing with American Well,” he said.