Maple raises $14.5M Series A

Canadian telemedicine platform Maple has raised CAD 14.5 million between an oversubscribed funding round and an investment from the Royal Bank of Canada (RBC) earlier in the year. This latest round, led by growth VC investor Acton Capital from Munich and supported by Canada’s leading diversified home health institution, SE Health, follows a record year in which Maple grew its revenue six times.

Maple is a technology platform that offers convenient access to doctors and other healthcare providers. It allows patients to connect directly with doctors for medical care in minutes from their smartphone or computer 24/7, and also provides custom technology solutions for hospitals and clinics seeking to advance their delivery of care.

Its list of corporate partners include Morneau Shepell and ENCON Group Inc., as well as employers such as pharmaceutical giant GlaxoSmithKline, which includes Maple in employee benefits programs.

In addition to expanding Maple’s hospital and home care arms, this investment will further strengthen Maple’s substantial user-facing platform, which provides online access to primary care and specialties like dermatology, psychotherapy, and naturopathy. With over 400 physicians providing care through the platform, Maple has become the largest national network of Canadian doctors on a single telemedicine platform by empowering them to provide care on their own schedule — be it on days off or between shifts — adding physician capacity to Canada’s healthcare system.

“We’ve always made the conscious decision to put Canada first in every service we develop. As we move forward, we’ll use this new investment to build strategic solutions to improve Canadian healthcare. We’re creating a fully connected experience – one where anyone can access care in minutes whenever they need it and receive true continuity of care between providers.” The company’s ambitious goals will see its Toronto headquarters triple in size over the next 24 months as telemedicine becomes more widely accepted in Canada’s healthcare market.” – Cofounder and CEO of Maple, Dr. Brett Belchetz.