On Tuesday, ZD Ventures, an investment firm specializing in early-stage startups, announced its pre-Series A investment in Legion Health, a U.S.-based telehealth clinic. The investment amount was not disclosed.
Legion Health is a startup co-founded by Princeton University students. Existing investor Y Combinator participated in this round, along with new investors including Next Coast Ventures.
Legion Health has revolutionized mental health care in the U.S. by dramatically reducing the average 60-day wait time for psychiatric appointments through its innovative telehealth model.
Going beyond simply connecting patients with doctors, Legion Health has developed a comprehensive full-stack model that manages the entire medical process. This allows patients to receive specialized treatment from home as soon as the day after scheduling an appointment.
Notably, Legion Health has integrated artificial intelligence (AI) technology throughout the entire process – from appointment scheduling and pre-examination to treatment and billing – effectively addressing long-standing administrative bottlenecks.
The company offers cutting-edge features such as an AI Auto Scheduler for optimal appointment allocation, an AI Risk and Suitability Screener for pre-assessing insurance eligibility and patient risk, a Clinic Copilot that automates prescriptions by analyzing clinical notes, and AI Current Procedural Terminology (CPT) Coding for accurate billing.
ZD Ventures cited Legion Health’s innovative business model, which leverages AI technology to address fundamental inefficiencies in the U.S. mental health care system, as the key factor in their investment decision.
Legion Health has demonstrated remarkable operational efficiency, managing a fourfold increase in patient numbers without additional staffing. This efficiency has translated into impressive results, with the company achieving 350% year-over-year revenue growth and an average of 5.3 visits per patient – more than double the industry average.
Kim Ha-kyung, Chief Executive Officer (CEO) of ZD Ventures, stated that Legion Health is setting a new benchmark for the U.S. mental health care system with its superior AI infrastructure and operational efficiency. ZD Ventures will continue to seek out and partner with global innovators that possess unique and transformative business models.
ZD Ventures is actively pursuing investment opportunities both in promising domestic startups and in the U.S. market. The firm is expanding its investment portfolio by backing innovative companies on both sides of the Pacific, including Shield Security, a global business-to-business (B2B) remittance infrastructure platform based on USDT stablecoin, and WaveAI, an American AI music generation company.