Total amount raised
$125 Million
Latest funding date
8/1/2020
Location
PatientPop has successfully raised funding over five rounds, with the latest being a Series C led by HLM Venture Partners. The company is backed by a total of eight investors, including Toba Capital and Vivo Capital.
PatientPop offers a comprehensive practice growth solution for healthcare providers, integrating EHR, billing, scheduling, and reputation management tools into a single platform. Keep reading to explore the intricacies of PatientPop's fundraising journey and the investors backing this innovative platform.
What Is PatientPop?
PatientPop, founded in Santa Monica, California, is a private company specializing in digital marketing, healthcare, internet, and SaaS industries. The company employs between 501 and 1000 people.
PatientPop offers a comprehensive practice growth solution designed to help healthcare providers succeed in the digital age. The platform integrates EHR, billing, scheduling, and reputation management tools to enhance the online presence and operational efficiency of healthcare practices.
Recently, PatientPop was acquired by Tebra, further expanding its capabilities and market reach. The company continues to operate as a private entity with a Series C funding stage.
How Much Funding Has PatientPop Raised?
- Seed Round
- Amount Raised: USD 3,000,000
- Date: May 2015
- Lead Investors: Athenahealth
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To build the initial platform and attract early adopters in the healthcare industry.
- Series A Round (2016)
- Amount Raised: USD 17,500,000
- Date: April 2016
- Lead Investors: Toba Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand the platform's capabilities and scale operations.
- Series A Round (2017)
- Amount Raised: USD 29,500,000
- Date: September 2017
- Lead Investors: Toba Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further develop the platform and enhance marketing efforts.
- Series B Round
- Amount Raised: USD 25,000,000
- Date: October 2018
- Lead Investors: Leerink Transformation Partners
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To accelerate growth and expand market reach.
- Series C Round
- Amount Raised: USD 50,000,000
- Date: August 2020
- Lead Investors: HLM Venture Partners
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To add more functionalities to the platform, including virtual care and new patient communication features, especially during the COVID-19 pandemic.
Total Amount Raised: USD 125,000,000. Current Valuation: Not publicly disclosed.
Key Investors
- HLM Venture Partners
- Details: HLM Venture Partners is a leading healthcare venture firm. They led the Series C funding round for PatientPop.
- Investment Focus Areas: Healthcare technology, healthcare services, digital health.
- Notable Investments: Teladoc Health, Nordic Consulting Partners, Phreesia.
- Leerink Transformation Partners
- Details: Leerink Transformation Partners is a venture capital firm specializing in healthcare technology and services. They led the Series B funding round for PatientPop.
- Investment Focus Areas: Healthcare technology, healthcare services, life sciences.
- Notable Investments: Health Catalyst, PatientPing, Vera Whole Health.
- Toba Capital
- Details: Toba Capital is a venture capital firm that focuses on enterprise software and healthcare IT. They led the Series A funding rounds for PatientPop.
- Investment Focus Areas: Enterprise software, healthcare IT, SaaS.
- Notable Investments: Alteryx, Sauce Labs, PatientPop.
- Athenahealth
- Details: Athenahealth is a healthcare IT company that provides electronic health records and practice management solutions. They were the lead investor in the Seed round for PatientPop.
- Investment Focus Areas: Healthcare IT, electronic health records, practice management.
- Notable Investments: Arsenal Capital Partners, Veritas Capital, PatientPop.
- Vivo Capital
- Details: Vivo Capital is a healthcare investment firm that participated in the Series C funding round for PatientPop. They focus on investing in healthcare companies.
- Investment Focus Areas: Pharmaceuticals, medical devices, healthcare services.
- Notable Investments: Not publicly disclosed.
What's Next for PatientPop?
PatientPop stands at the cusp of significant growth opportunities, driven by the increasing demand for digital healthcare solutions. With the recent $50 million Series C funding, the company is poised to expand its platform functionalities, including virtual care and enhanced patient communication features. This expansion aligns with industry trends emphasizing telehealth and digital strategies, especially in the wake of the COVID-19 pandemic.
Future fundraising opportunities appear promising as PatientPop continues to innovate and scale its operations. The successful Series C round and the addition of experienced board members suggest that the company may attract further investments to support its growth trajectory. However, challenges such as rapidly changing market conditions and competition from other digital health platforms could pose hurdles along the way.
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