Total amount raised
$125 Millions
Latest funding date
8/1/2020
Location
PatientPop has successfully raised significant funding through multiple rounds, with its latest being a Series C round. The company has attracted a diverse group of investors, including Toba Capital and Vivo Capital.
Keep reading to explore the intricacies of PatientPop's fundraising journey and the investors backing this innovative platform.
What Is PatientPop?
PatientPop, founded in 2014, is headquartered in Santa Monica, California. The company was established by Jason Gardner, Luke Kervin, and Travis Schneider.
PatientPop offers a comprehensive practice growth solution for healthcare providers, enhancing and automating each touchpoint in the patient journey. This includes everything from the first online impression to digital booking and post-appointment follow-up.
With a workforce of 501-1000 employees, PatientPop is dedicated to helping healthcare providers attract more patients, manage their online reputation, and modernize the patient experience.
How Much Funding Has PatientPop Raised?
- Seed Round
- Amount Raised: $3M
- Date: May 2015
- Lead Investors: Athenahealth
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To develop the initial platform and attract early adopters.
- Series A
- Amount Raised: $17.5M
- 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 (Second Round)
- Amount Raised: $29.5M
- Date: September 2017
- Lead Investors: Toba Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further enhance the platform and increase market penetration.
- Series B
- Amount Raised: $25M
- Date: October 2018
- Lead Investors: Leerink Transformation Partners
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To accelerate growth and expand the customer base.
- Series C
- Amount Raised: $50M
- 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.
Total Amount Raised: $125M. Current Valuation: Not publicly disclosed.
Key Investors
- HLM Venture Partners
- Details: HLM Venture Partners is a leading venture capital firm focused on healthcare investments. They led PatientPop's Series C funding round.
- Investment Focus Areas: Healthcare services, healthcare technology, medical devices.
- Notable Investments: Teladoc Health, Nordic Consulting, ClearDATA.
- Leerink Transformation Partners
- Details: Leerink Transformation Partners is a venture capital firm that invests in healthcare technology and services. They led PatientPop's Series B funding round.
- Investment Focus Areas: Healthcare technology, healthcare services, digital health.
- Notable Investments: Health Catalyst, Kyruus, PatientPing.
- Toba Capital
- Details: Toba Capital is a venture capital firm that invests in enterprise software and technology companies. They have been a consistent investor in PatientPop, leading multiple funding rounds.
- Investment Focus Areas: Enterprise software, healthcare technology, cloud computing.
- Notable Investments: Alteryx, Sauce Labs, Domo.
- Athenahealth
- Details: Athenahealth is a healthcare technology company that provides network-enabled services for healthcare providers. They led PatientPop's seed funding round.
- Investment Focus Areas: Healthcare IT, electronic health records, practice management.
- Notable Investments: Epocrates, Arsenal Health, Praxify.
- Vivo Capital
- Details: Vivo Capital is a healthcare investment firm that focuses on growth and late-stage companies. They participated in PatientPop's Series C funding round.
- Investment Focus Areas: Biotechnology, medical devices, healthcare services.
- Notable Investments: Ascletis, Avedro, Rempex Pharmaceuticals.
What's Next for PatientPop?
PatientPop is poised to capitalize on the growing demand for digital healthcare solutions. With $50 million in Series C funding, the company plans to enhance its platform with virtual care and improved patient communication features. This expansion aligns with industry trends emphasizing telehealth and digital patient engagement, especially in the wake of the COVID-19 pandemic.
Future fundraising opportunities seem promising as PatientPop continues to innovate and expand its offerings. However, the company may face challenges such as adapting to rapidly changing market conditions and staying ahead of competitors. Ensuring data security and compliance with healthcare regulations will also be critical as they scale their operations.
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