Healthcare Software Company Tendo System Raises $50 Million

Tendo Systems, a digital engagement software platform connecting patients, clinicians, and caregivers, raised $50 million in a Series B round. Lux Capital led the round with participation from General Catalyst. The current round brings the total funding raised to $69 million with a valuation of $550 million.

Tendo creates a digital engagement platform and suite of applications that connect patients, clinicians, and caregivers throughout the care cycle. With these features, the software will deliver important capabilities to support a new era of consumer-centric healthcare, where better patient and caregiver experiences are imperative for healthcare providers, according to the company.

“It’s time to put patients and clinicians back at the center of the healthcare experience and move away from endless paperwork and outdated systems,” said Dan Goldsmith, chief executive officer, Tendo. “Over the past two decades, we’ve seen technology power the digital transformation of industries delivering massive advances in how we work and live. As consumers, we’ve become accustomed to accessing services, products, and media at the tap of a key or the touch of a screen -connected, coordinated, and available. These realities exist just about everywhere today, except in healthcare. We can do better.”

“Lux Capital has thematically invested in digital transformation across industries, from healthcare and life sciences to manufacturing, and several other sectors. Tendo has emerged as the clear partner of choice for major healthcare systems to build infrastructure, interfaces, and software for healthcare providers and patients to seamlessly and efficiently interact with each other across digital and physical platforms,” said Lux Capital Partner Bilal Zuberi. “We are excited to partner with them to build the future of healthcare experience in America.”

Digital Health companies raised a record $7.2 billion in Q1 2021, up 60% compared to $4.5 billion in Q4 2020. VC funding in Q1 2021 increased 100% compared to Q1 2020 when $3.6 billion was raised.