How Much Did Vital Raise? Funding & Key Investors

Vital has successfully raised funds through a Series B round, with the latest funding closing on March 23, 2023. The company is backed by 11 investors, including Transformation Capital and Aaron Patzer.

Keep reading to explore the intricacies of Vital's fundraising journey and the investors backing this innovative platform.

What Is Vital?

Vital, founded in February 2017, is headquartered in Atlanta, Georgia. The company was established by Aaron Patzer and Justin Schrager.

Operating within the Artificial Intelligence (AI) and healthcare industries, Vital focuses on providing AI-powered digital experiences to enhance patient engagement in critical healthcare settings. The company employs between 101 and 250 people.

How Much Funding Has Vital Raised?

1. Pre-Seed Round
   • Amount Raised: $1M
   • Date: February 2017
   • Lead Investors: Aaron Patzer
   • Valuation at Round: Not publicly disclosed
   • Motivation Behind the Round: To establish the company and develop initial AI-powered healthcare solutions.
2. Seed Round
   • Amount Raised: $5.2M
   • Date: April 2019
   • Lead Investors: First Round Capital, Threshold
   • Valuation at Round: Not publicly disclosed
   • Motivation Behind the Round: To expand the team and develop new features for patient engagement and clinical decision support.
3. Series A
   • Amount Raised: $15M
   • Date: September 2021
   • Lead Investors: Transformation Capital
   • Valuation at Round: Not publicly disclosed
   • Motivation Behind the Round: To scale operations and enhance AI-driven patient experience solutions.
4. Series B
   • Amount Raised: $24.7M
   • Date: March 2023
   • Lead Investors: Transformation Capital
   • Valuation at Round: Not publicly disclosed
   • Motivation Behind the Round: To fuel expansion, support rapid growth, and develop new features for clinical decision support and patient experience.

Total Amount Raised: $45.9M. Current Valuation: Not publicly disclosed.

Key Investors

• Transformation Capital
  • Details: Transformation Capital is a venture capital firm that led the Series B funding round for Vital. The firm is known for its focus on healthcare technology investments.
  • Investment Focus Areas: Healthcare technology, patient experience and advocacy platforms, AI-driven solutions for health systems.
  • Notable Investments: Not specifically mentioned in the sources.
• Threshold Ventures
  • Details: Threshold Ventures is a venture capital firm that participated in the Series B funding round for Vital. The firm typically invests in early-stage technology companies.
  • Investment Focus Areas: Early-stage technology companies, digital health innovations.
  • Notable Investments: Not specifically mentioned in the sources.
• Aaron Patzer
  • Details: Aaron Patzer is the CEO of Vital and the creator of Mint.com. He has been instrumental in the development and growth of Vital.
  • Investment Focus Areas: Digital health, AI-driven patient engagement and communication tools.
  • Notable Investments: Mint.com.
• First Round Capital
  • Details: First Round Capital is a venture capital firm that led the Seed Round for Vital. The firm is known for its early-stage investments in technology companies.
  • Investment Focus Areas: Early-stage technology companies, healthcare, consumer internet.
  • Notable Investments: Uber, Square, Warby Parker.
• Strategic Health System Investors
  • Details: These investors include various health systems that have strategically invested in Vital to enhance their healthcare delivery.
  • Investment Focus Areas: Healthcare delivery, patient experience, clinical decision support.
  • Notable Investments: Not specifically mentioned in the sources.

What's Next for Vital?

Vital's future is brimming with opportunities. The company is poised to expand its AI-driven solutions into more hospitals and health systems, aiming to impact over one million patient lives and support 100,000 clinical tasks in 2023. With new features like Experience Management and Lab Results tools, Vital is set to enhance clinical decision support, care coordination, and patient experience.

Given the rapid growth and successful Series B funding, future fundraising rounds seem likely to support further development and scaling. However, challenges such as managing rapid growth, ensuring seamless integration with existing systems, and maintaining high levels of patient engagement and satisfaction will need to be navigated carefully.

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