Google Cloud is investing $100 million into Amwell, one of the largest telehealth providers. Amwell builds technology for virtual doctors’ visits and has filed to go public. Google’s funding will be a concurrent private placement at the IPO price.
As per the partnership deal, Amwell will move parts of its business from Amazon Web Services (AWS), to Google Cloud. With Google cloud as its “preferred global cloud partner”, Amwell will move some video performance capabilities to that platform. They will also cooperate on technology and build out a dedicated sales effort to expand Amwell’s footprint in telehealth space.
On Monday, Amwell filed for a proposed initial public offering (IPO) with the Securities and Exchange Commission and applied to list its common stock on the New York Stock Exchange.
The company plans to raise up to $100 million in the IPO, according to its S-1 filing.