98point6 CEO Robbie Cape is no longer with the company in abrupt shakeup at telemedicine startup

Robbie Cape, former CEO of virtual primary care startup 98point6, accepts the award for Health Innovation of the Year 2019 at the GeekWire Awards. (GeekWire Photo / Kevin Lisota)

98point6 CEO Robbie Cape no longer works at the heavily funded virtual health company he co-founded in 2015, GeekWire has learned.

The company confirmed on Wednesday that Cape is out and the search for a replacement on the board is ongoing.

It’s unusual for a Co-Founder and CEO to drop out abruptly without anyone standing in line. Sources say Cape’s departure came as a surprise to employees. Chairman Jeff Greenstein, an early investor in 98point6 through his firm YIS Capital, is serving as interim CEO.

We have reached out to Cape and will update this story if we hear anything.

Here is a statement from 98point6 COO Fukiko Ogisu:

“As of today, Robbie Cape is no longer CEO of 98point6. We appreciate his six year vision and leadership. Even if Robbie is no longer with the company, we will continue to fulfill the mission he was instrumental in developing – to ensure that every single person on earth has access to high quality basic services without ever having to compromise financially it. The 98point6 board of directors is conducting a search for a new CEO. The C-level team will continue to lead the business and Jeff Greenstein, co-founder and chairman of 98point6, will serve as interim CEO while the board leads the search. “

Cape is a veteran of the Seattle tech scene. He sold his previous company, the family planning app Cozi, to Time Inc. in 2014 and previously worked for Microsoft for 12 years.

In 2015, Cape co-founded 98point6 with Gordon Cohen, a professor at Arizona State University, and Greenstein (who has not become known as a co-founder to this day).

The 350-person company is helping to enable virtual appointments for primary care and has reported great demand amid the pandemic. A $ 118 million Series E round began in October, led by private equity giant L Catterton and late-stage investment firm Activant Capital. At the time, the company was valued at $ 518 million, according to PitchBook.

98point6 provides primary care to more than 3 million patients in all 50 states and connects them in real time with their doctors using an AI-supported chatbot, texts and digital images. Customers include giant corporations like Boeing and Chipotle, as well as health insurance and healthcare systems. The company also offers a direct-to-consumer product.

The startup makes money through a membership-based model. It charges consumers $ 120 per year and $ 1 per visit. For example, those using an employer-paid sponsored plan can access doctors at low cost or free of charge.

The company says 60% of Americans are unrelated to primary care and the number is growing.

“We’re trying to solve this problem by offering them basic services on their terms,” ​​Cape said in a video earlier this year. He added, “The depth of service we can provide and the breadth of service – even in primary care – is almost endless. That’s just the beginning.”

98point6 is one of a group of health tech startups that have seen increased use during the coronavirus crisis and aroused the interest of investors. Competitors include MDLive (acquired by Cigna earlier this year), Amwell, Firefly Health, Teladoc, and others. Aetna, a CVS Health company, launched its own virtual primary care service last month.

98point6 has raised $ 247 million to date. Investors include Goldman Sachs; BlackRock CEO Larry Fink; Costco co-founder Jim Sinegal; and Frazier Healthcare Partners Managing Partner Nader Naini.

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