Telehealth startup Wheel raises $50M series B

In April 2020, Austin-based startup Wheel responded to the Covid-19 pandemic by adding staff to meet the growing need for telehealth services. The company, which had 22 employees in early April, now employs around 80 people across the country. On May 19, Wheel announced a $50 million series B round led by Lightspeed Ventures and an ambitious plan to double its headcount again by the end of the 2021. Also participating in the $50 million series B were existing investors CRV, Silverton Partners, Tusk Venture Partners and J.P. Morgan, along with new investor Future Shape.