Virtual healthcare platform Wheel has laid off 35 employees, or 17 percent of its staff, a spokesperson confirmed to Becker's.
Wheel provides technology infrastructure and access to a nationwide clinician network for companies wanting to provide virtual care.
"We made the decision to double down on our long-term strategy of building an enterprise platform that connects patients with the highest quality care," Wheel CEO and co-founder Michelle Davey wrote in an Aug. 18 note to employees. "By scaling the underlying infrastructure for the industry, we'll accelerate everyone's ability to get quality care on-demand — at any time, from anywhere, and on their own terms."
Wheel was among 13 digital health companies that raised more than $100 million in the first two months of 2022, landing $150 million in a January series C funding round co-led by Lightspeed Venture Partners and Tiger Global that included Salesforce Ventures. The market has since shifted.