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UK’s Palta Nets $100M To Scale Preventive Healthcare Products

Health and well-being tech company Palta has announced it has raised $100 million in a Series B round.

Palta’s products deliver preventive health care, offering technological solutions to a variety of health issues and lifestyle fixes.

The company wants to create more apps like Flo, which helps women track their menstrual cycles.

Other apps by the company include Simple Fasting, a dieting app, and Zing Fitness Coach, a personalized fitness app.

Read More: Palta Closes $100m Series B Funding Round Led By VNV Global

“Stemming from my passion for building products which positively impact millions globally, Palta collaborates with those who share our values and vision. Palta Brain platform, the foundational powerhouse that drives our consumer digital apps, allows for much faster scaling of both products that we envisage internally, as well as those that come to us from the market. This can be seen clearly in our 10x growth in two years alone,” said Yuri Gurski, CEO and founder of Palta.

Gurski also said that the company wants to add more health and fitness product offerings. Gurski added that not only does having more than one product help to address numerous different pain points for users, it also makes more opportunities for learning and cross-pollination.

PYMNTS recently wrote about how the pandemic was the final straw to allowing healthcare to enter the connected economy, letting telehealth services become more mainstream.

Related: Why It Took A Pandemic To Bring Healthcare Into The Connected Economy

Prior to the pandemic, PYMNTS wrote that there were only slight ways for users to access to telehealth. Only around 25 percent of U.S. consumers in 2018 had used it. By 2019, 77 percent said they had used it, but only sparingly.

However, the pandemic opened the floodgates for telehealth, with a spike of 154 percent compared to before.

Even once the pandemic finally recedes for good, telehealth seems to be here to stay. Convenience plays a factor, with many people finding out how easy it is to work a doctor’s appointment from home rather than taking the time to go out.

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