SymphonyRM, a cloud-based digital health platform that helps health systems acquire, engage, and retain patients, raised $25 million in Series B funding.
The funding round was led by new investment partner TT Capital Partners (TTCP) with continued investment from Adams Street Partners (Adams Street).
Including the latest funding round, SymphonyRM has raised $35 million to date. The company previously raised $10 million in a Series A funding round in 2019.
SymphonyRM plans to deploy the latest capital injection to further fuel its sales and marketing efforts. The company also plans to increase its reach and footprint in the payer segment by leveraging data science and AI to create the next actions that improve member experiences.
According to the company, its cloud-based generates data-driven insights, actions for every consumer, prospect, and provider in a health system, helps organizations anticipate member needs, and use proactive outreach to build broader customer relationships and drive better outcomes while increasing revenue.
“The doctor-patient relationship is core to healthcare delivery and improved health outcomes. SymphonyRM’s capabilities further this important relationship while helping providers become even more successful in the era of value-based care,” said O’Sullivan. “We look forward to collaborating with SymphonyRM’s strong management team as they continue advancing the use of actionable data to help health systems and consumers thrive.”
“We’re thankful to have established a partnership with TTCP, which is one of the most revered investors in emerging healthcare technology and SaaS companies, and to have the renewed support of Adams Street, which has been an exception steward of our organization’s evolution,” said Michael Linnert, CEO of SymphonyRM, in a statement.
“Individually, each organization is known for its successes helping companies navigate the growth stage, and together, we are working with the best possible team to shepherd us through this exciting new chapter,” he said.
Digital Health companies raised a record $7.2 billion in VC funding in Q1 2021, according to the latest Mercom Digital Health Funding and M&A Report.