Total amount raised
$108.5 Millions
Latest funding date
07/01/2022
Location
Elation Health has successfully raised funds through multiple rounds, with the latest being a Series D closed on July 26, 2022. The company is backed by 12 investors, including Hyphen Capital and Ascend Partners.
Keep reading to explore the intricacies of Elation Health's fundraising journey and the investors supporting this innovative platform.
What Is Elation Health?
Elation Health, founded in 2010 by Conan Fong and Kyna Fong, is headquartered in San Francisco, California. The company operates in the healthcare technology industry, specifically focusing on Electronic Health Record (EHR) software for primary care.
With an employee count ranging from 101 to 250, Elation Health offers a clinical-first, unified EHR platform designed to support primary care practices. Their solutions include an all-in-one EHR system, billing services, and AI-powered tools to enhance clinical efficiency and patient care.
How Much Funding Has Elation Health Raised?
- Series D
- Amount Raised: $50M
- Date: July 2022
- Lead Investors: Ascension Ventures, Generation Investment Management
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand their platform capabilities and enhance patient care services.
- Series C
- Amount Raised: $40M
- Date: December 2020
- Lead Investors: Generation Investment Management
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and improve interoperability features.
- Series B
- Amount Raised: $15M
- Date: August 2016
- Lead Investors: Threshold
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance the platform's ability to connect patients with providers and improve interoperability.
- Venture Round
- Amount Raised: Not publicly disclosed
- Date: June 2014
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support early-stage growth and development of their EHR platform.
- Series A
- Amount Raised: $3.5M
- Date: March 2012
- Lead Investors: Kapor Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To develop and launch their initial EHR product.
- Seed Round
- Amount Raised: Not publicly disclosed
- Date: June 2010
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To fund the initial startup phase and product development.
Total Amount Raised: $108.5M. Current Valuation: Not publicly disclosed.
Key Investors
- Ascension Ventures
- Details: Ascension Ventures is a strategic healthcare venture fund that invests in companies with the potential to transform the healthcare industry. It is backed by Ascension, one of the largest non-profit health systems in the United States.
- Investment Focus Areas: Healthcare services, medical devices, healthcare IT.
- Notable Investments: Not publicly disclosed.
- Generation Investment Management
- Details: Generation Investment Management is a sustainable investment firm co-founded by former U.S. Vice President Al Gore and David Blood. The firm focuses on long-term investing and integrating sustainability research within a rigorous framework.
- Investment Focus Areas: Sustainable businesses, technology, healthcare.
- Notable Investments: Not publicly disclosed.
- Threshold
- Details: Threshold, formerly known as DFJ, is a venture capital firm that partners with early-stage companies. The firm has a history of investing in transformative technology companies.
- Investment Focus Areas: Enterprise technology, consumer technology, healthcare.
- Notable Investments: Tesla, SpaceX, Twitter.
- Kapor Capital
- Details: Kapor Capital is a venture capital firm that invests in seed-stage tech startups. The firm focuses on companies that are closing gaps of access, opportunity, or outcome for low-income communities and communities of color.
- Investment Focus Areas: Education, financial inclusion, healthcare.
- Notable Investments: Twilio, Uber, Bitwise Industries.
- DFJ (Draper Fisher Jurvetson)
- Details: DFJ is a venture capital firm that invests in early- and growth-stage companies. The firm has a strong track record of backing companies that have gone on to become industry leaders.
- Investment Focus Areas: Enterprise, consumer, disruptive technologies.
- Notable Investments: Tesla, SpaceX, Skype, Twitter, SolarCity.
What's Next for Elation Health?
As Elation Health continues to expand its cloud-based care platform, the opportunities for growth are immense. The company is well-positioned to leverage new reimbursement policies that emphasize performance over traditional fee-for-service models. This shift in the healthcare landscape presents a significant opportunity for Elation Health to enhance interoperability among different healthcare organizations and expand its reach to more providers and regions.
Future fundraising opportunities are likely as the platform demonstrates its value in improving healthcare outcomes and reducing costs. With a strong track record and a growing network of over 200,000 providers, Elation Health is poised to attract additional investment to further scale its platform and enhance its features. However, the company will need to navigate challenges such as ensuring data security and privacy, competing with other healthcare technology platforms, and adapting to regulatory changes.
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