Chronometriq Raises $5 Million for Healthcare Service Booking Platform

Chronometriq, an online healthcare appointment booking platform, secured $5 million in growth capital financing from CIBC Innovation Banking.

According to the company, the platform enables full-cycle appointment management, reduces missed appointments, and improves patient access to healthcare providers and clinics, using online appointment booking services and automated reminders. The platform serves 12 million users through its network of clinics across North America, the company said.

“Chronometriq has proven that its software is complementary to electronic medical record systems used by health clinics across North America,” said Eric Laflamme, Managing Director Quebec Region, CIBC Innovation Banking.

Eric Laflamme added: “The company’s platform helps digitally connect people to healthcare while reducing wait times, and we’re looking forward to working with their team as they continue to expand.”

Founded in 2012, Chronometriq has raised $23.5 million to date, including a $15 million Series B funding round in October 2019. Existing investors include Full In Partners and Bridgescale Partners.

“CIBC Innovation Banking understands our needs and supports the growth that we are experiencing. They understand our reality and where we’d like to go,” said Yan-Raymond Lalande, CEO and Co-founder of Chronometriq.

The company plans to use the new financing to support its plans for further growth across North America. More recently, Chronometriq acquired competitor Health Myself, a healthcare appointment booking portal, for an undisclosed amount.

Online Healthcare Service Booking companies raised $572 million in 9M 2020, a 17% increase compared to $487 in 9M 2019, according to the latest Mercom’s 9M 2020 Digital Health Funding Report. Recently, eDoctor, an online healthcare service booking platform, raised an undisclosed funding round from CyberAgent Capital and Genesia Ventures, Bon Angels, and Nextrans.

In another round, Homage, a Singapore-based startup that matches care recipients and caregivers, raised an undisclosed amount in Series B funding led by EV Growth, with participation from Alternate Ventures, KDV Capital, and HealthXCapital.

Image Credit: Chronometriq