PatientPop, a workflow automation software platform for healthcare providers, raised $50 million in Series C funding round.
The platform is designed specifically for healthcare providers to optimize and manage everything from patient acquisition, retention, reputation, and business insights. It integrates with electronic medical records and practice management systems so that practices can offer a seamless patient experience.
Launched in October of 2014, PatientPop is serving thousands of healthcare practices in the U.S. The company has grown to more than 500 employees as of today, with offices in Santa Monica, Las Vegas, and New York.
The Series C round comes less than three years after a $25 million Series B funding in 2018, which was led by Leerink Transformation Partners – and brings the company’s total to over $125 million.
“Our focus is to fulfill our mission to help practices thrive, even among rapidly changing healthcare and economic market conditions,” said Luke Kervin, PatientPop Co-founder and Co-CEO. “This is more important than ever as providers quickly adapt their digital strategy and presence to attract and retain patients, and seek the technology and tools they need to successfully operate their practice throughout the COVID-19 pandemic.”
The Series C round was led by HLM Venture Partners, a venture capital firm focused on healthcare, with participation from new investors Commonfund and Vivo Capital, and existing investors Toba Capital, Transformation Capital, and Silicon Valley Bank.
In conjunction with the investment, Steve Tolle, Partner, HLM Venture Partners, and Vivo Capital principal Nathan Dau have joined the company board.
Jonathan Bush Said, “I met the PatientPop team years ago when they were part of the athenahealth Marketplace. We were so impressed with how they help private practices that we made a corporate angel investment. PatientPop is the leader in practice growth, with a huge opportunity to forever change the way practices deliver care. I’m thrilled to continue my involvement with the company.”
According to the company, the new funds will help develop its software platform that streamlines the practice’s routine tasks. Digital Health companies in the first half of 2020 raised $6.3 billion. Olive (formerly CrossChx), a developer of AI-enabled healthcare workflow automation solutions, recently closed a $51 million funding round.