Total amount raised
$112.6 Millions
Latest funding date
11/01/2017
Location
Phreesia has successfully raised $13.25 million over multiple funding rounds, with its last round occurring on November 8, 2017. The company is backed by prominent venture capital firms, including Ascension Ventures and HLM Venture Partners.
Phreesia's platform offers automated tools for patient intake, access, payments, and more, helping healthcare organizations drive meaningful outcomes. Keep reading to explore the intricacies of Phreesia's fundraising journey and the investors backing this innovative platform.
What Is Phreesia?
Phreesia, founded on February 1, 2005, is a healthcare technology company based in Wilmington, Delaware. The company was established by Chaim Indig, Evan Roberts, and Michael Weintraub.
Operating in the healthcare, hospital, information technology, and medical industries, Phreesia employs between 1001 and 5000 people. The company specializes in automating the patient check-in process through its PhreesiaPad, enhancing patient experience and operational efficiency.
How Much Funding Has Phreesia Raised?
- Amount Raised: $3M
- Date: December 2006
- Lead Investors: HLM Venture Partners
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To develop and launch the PhreesiaPad, enhancing patient check-in processes.
- Amount Raised: $10.3M
- Date: September 2007
- Lead Investors: Polaris Partners
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand market reach and improve the PhreesiaPad technology.
- Amount Raised: $11.6M
- Date: February 2009
- Lead Investors: Sandbox Industries, The Blue Venture Fund
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and enhance product offerings.
- Amount Raised: $16M
- Date: May 2010
- Lead Investors: Ascension Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support rapid growth and expand the customer base.
- Amount Raised: $4.8M
- Date: August 2010
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To continue product development and market expansion.
- Amount Raised: $20M
- Date: September 2010
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further enhance the PhreesiaPad and expand market presence.
- Amount Raised: $30M
- Date: October 2014
- Lead Investors: LLR Partners
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To accelerate product development and broaden the customer base.
- Amount Raised: $17M
- Date: November 2017
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand technology and market reach.
Total Amount Raised: $112.7M. Current Valuation: Not publicly disclosed.
Key Investors
- LLR Partners
- Details: LLR Partners is a private equity firm that focuses on middle-market growth companies. They have a strong track record in supporting businesses in various stages of development.
- Investment Focus Areas: Business services, consumer and education, financial services, government services, healthcare services, software and IT services.
- Notable Investments: AWeber, CPower, Phreesia.
- Ascension Ventures
- Details: Ascension Ventures is a strategic healthcare venture fund. They partner with healthcare systems to invest in innovative healthcare companies.
- Investment Focus Areas: Healthcare services, healthcare technology.
- Notable Investments: Augmedix, Health Catalyst, Phreesia.
- Sandbox Industries
- Details: Sandbox Industries is a venture capital firm that invests in early-stage companies. They are known for their focus on healthcare and agriculture sectors.
- Investment Focus Areas: Healthcare, agriculture.
- Notable Investments: Livongo, Tempus, Phreesia.
- The Blue Venture Fund
- Details: The Blue Venture Fund is a venture fund that collaborates with Blue Cross Blue Shield. They focus on healthcare innovation to improve patient outcomes.
- Investment Focus Areas: Healthcare innovation.
- Notable Investments: Quartet Health, Wellframe, Phreesia.
- Polaris Partners
- Details: Polaris Partners is a venture capital firm that invests in technology and healthcare companies. They have a diverse portfolio of successful investments.
- Investment Focus Areas: Technology, healthcare.
- Notable Investments: Akili Interactive, Ironwood Pharmaceuticals, Phreesia.
What's Next for Phreesia?
Phreesia stands at the cusp of significant growth opportunities, driven by its innovative patient self-service solutions. With a recent $30 million investment, the company is poised to accelerate product development and broaden its customer base across the United States. This funding will enable Phreesia to continue its rapid growth and develop new services that deliver additional value to healthcare organizations and their patients.
Future fundraising opportunities appear promising, given the involvement of existing investors like HLM Venture Partners and Ascension Ventures. The strategic partnership with LLR Partners, known for their expertise in SaaS, healthcare, and payments, may also open doors for additional investments. However, Phreesia will need to navigate the complexities of healthcare regulations and maintain high-quality service while scaling operations to stay ahead of competitors.
Use Clay to Get Funding Data
Sales professionals, leverage Clay’s platform to access comprehensive fundraising data on companies like Phreesia and gather other critical business insights. Sign up for free to start transforming your sales strategy today.
