As our readers know, Vator has started a series called When they were young.
It’s a look back at the modest days of startups, what traction they had in their first few years, and how they evolved. In the end, we hope to provide a glimpse into what great startups looked like in their first three years.
Stories like these are always well received because it reminds us that anyone, regardless of pedigree and environment, can rise above the noise and have great influence. They show us the value of being resilient, persistent, and committed. If we can follow their footsteps, maybe we too can have similar success.
My last segment in this series focused on Medium. This segment is on One Medical.
— One Medical’s First Year June 2006 to May 2007—
Founder (age at the time): Tom Lee
Founded: Originally known as The Metropolitan Group, Lee starts seeing patients in San Francisco in June 2006. The initial office is on 10 Sutter Street.
Initial company description: “I was a physician in Seattle and Boston, doing my medical training, and it was pretty apparent that, no matter what system I worked in, the patient care was below the standard of what a physician would want in terms of quality care, service of care, patients were unhappy and, importantly, everybody was complaining about the system. And we all know how broken the system is so I got hearing about everybody complaining and decided to look into fixing the system, and that’s what eventually spawned One Medical,” Lee told Forbes in 2013.
— One Medical’s Second Year June 2007 to May 2008—
First funding, at one year and one month from founding: In July 2007, the company raises a $3.5 million round of funding from Benchmark.
— One Medical’s Third Year June 2008 to May 2009—
Second funding: In November 2008, the company raises $8 million from Pinnacle Ventures, DAG Ventures and Benchmark. On its SEC form, the name of the company is called 1Life Healthcare.
Third funding: In January 2009, 1Life Healthcare raises $15 million from DAG Ventures, Oak Investment Partners and Benchmark Capital.
— One Medical’s Third Year June 2009 to May 2010—
Expansion: In September 2009, One Medical opens its first offices in New York.
— One Medical’s Fourth Year June 2010 to May 2011—
— One Medical’s Fifth Year June 2011 to May 2012
Fourth funding: In September 2011, One Medical raises $20 million in a round led by Maverick Capital, with Benchmark, Oak Investment, and DAG Ventures participating.
Expansion: In October 2011, One Medical expands to Washington D.C.
— One Medical Today —
