Total amount raised
$159.1 Millions
Latest funding date
Location
Luma Health has successfully raised significant funding through multiple rounds, including a Series C round that closed on November 23, 2021. The company is backed by notable investors such as Alumni Ventures and Cisco Investments.
Keep reading to explore the intricacies of Luma Health's fundraising journey and the investors backing this innovative platform.
What Is Luma Health?
Luma Health, founded in 2015, is based in San Mateo, California. The company was established by Aditya Bansod, Adnan Iqbal, and Tashfeen Ekram.
Specializing in patient access, revenue cycle management, and patient relationship management, Luma Health aims to modernize and mobilize the way patients connect with their healthcare providers.
With a team of 101-250 employees, Luma Health offers a comprehensive Patient Success Platform that includes features like patient scheduling, automated reminders, and patient communication.
How Much Funding Has Luma Health Raised?
- Seed Round
- Amount Raised: $3.4M
- Date: September 2017
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To kickstart the development of their Patient Success Platform and establish initial market presence.
- Convertible Note
- Amount Raised: $3.4M
- Date: February 2017
- Lead Investors: Azure Capital Partners
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To secure additional capital for scaling operations and enhancing product features.
- Series A
- Amount Raised: $6.3M
- Date: May 2018
- Lead Investors: U.S. Venture Partners
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand the team and accelerate product development to meet growing market demand.
- Series B
- Amount Raised: $16M
- Date: August 2019
- Lead Investors: PeakSpan Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale the platform's capabilities and increase market penetration.
- Series C
- Amount Raised: $130M
- Date: November 2021
- Lead Investors: FTV Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To unify and automate patient healthcare journeys, expand operations, and scale internationally.
Total Amount Raised: $159.1M
Current Valuation: Not publicly disclosed
Key Investors
- FTV Capital
- Details: FTV Capital is a growth equity investment firm that has raised nearly $4 billion to invest in high-growth companies. Founded in 1998, the firm focuses on enterprise technology and services, financial services, and payments and transaction processing.
- Investment Focus Areas: Enterprise technology and services, financial services, payments and transaction processing
- Notable Investments: 6 Degrees Health, Docupace, Derivative Path
- PeakSpan Capital
- Details: PeakSpan Capital is a growth equity firm that partners with innovative companies in the technology sector. The firm aims to support companies that are at the growth stage and need strategic guidance and capital to scale.
- Investment Focus Areas: Technology, software, enterprise solutions
- Notable Investments: Not publicly disclosed
- U.S. Venture Partners
- Details: U.S. Venture Partners is a venture capital firm that has been investing in early-stage companies for over 30 years. The firm focuses on healthcare, enterprise software, and consumer internet sectors.
- Investment Focus Areas: Healthcare, enterprise software, consumer internet
- Notable Investments: Not publicly disclosed
- Azure Capital Partners
- Details: Azure Capital Partners is a venture capital firm that invests in early-stage technology companies. The firm provides not only capital but also strategic support to help companies grow.
- Investment Focus Areas: Technology, software, internet
- Notable Investments: Not publicly disclosed
What's Next for Luma Health?
With the recent $130 million Series C funding, Luma Health is poised to expand its patient engagement platform, aiming to connect nearly a quarter of all Americans to care by 2022. The company plans to scale internationally, leveraging its significant growth and integration with over 80 electronic health records (EHRs).
Future fundraising opportunities seem promising as Luma Health continues to grow and develop its platform to meet the digital transformation needs of healthcare providers. However, challenges such as managing rapid growth, integrating with diverse EHR systems, and maintaining high-quality service could pose hurdles along the way.
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