PatientPop Announces $50M in Series C Funding

SANTA MONICA, Calif., Aug. 25, 2020 /PRNewswire/ -- PatientPop, the market leader in practice growth technology, today announced it has secured a Series C capital round of $50 million, led by HLM Venture Partners, one of the top healthcare venture firms in the country, along with participation from new investors Commonfund and Vivo Capital, and existing investors Toba Capital, Transformation Capital, and Silicon Valley Bank.

With the additional funds, PatientPop will deliver solutions that help private practices provide exceptional care virtually and in-person. This includes seamless patient communication and front office functions that are streamlined for a better patient experience. This focus will allow PatientPop to continue to define the Practice Growth category and provide the most complete suite of solutions for practices.

"Our focus is to fulfill our mission to help practices thrive, even among rapidly changing healthcare and economic market conditions," said Luke Kervin, PatientPop Co-founder and Co-CEO. "This is more important than ever as providers quickly adapt their digital strategy and presence to attract and retain patients, and seek the technology and tools they need to successfully operate their practice throughout the COVID-19 pandemic."

With the new investment from HLM Venture Partners, HLM partner Steve Tolle joins the PatientPop board of directors, along with Vivo Capital principal Nathan Dau, and Jonathan Bush, former Co-founder and CEO of athenahealth.

Tolle brings more than 30 years of commercial healthcare technology expertise to the board in the areas of strategy, business development, and product management.

"PatientPop is changing the industry because it drives results for practices with its platform designed for providers, focused on the critical areas of practice growth and virtual practice management," said Tolle.

Nathan Dau has extensive experience working with high-growth technology companies, and a background in law, investment banking, and growth equity investing.

"The company took great strides in telehealth innovation over the past five months, addressing the requirements for virtual patient visits spurred on by the COVID-19 pandemic, and responded by introducing PatientPop Pro," said Dau. "PatientPop will no doubt continue to help doctors adopt new technologies that are critical to practice success."

Jonathan Bush added, "I met the PatientPop team years ago when they were part of the athenahealth Marketplace. We were so impressed with how they help private practices that we made a corporate angel investment. PatientPop is the leader in practice growth, with a huge opportunity to forever change the way practices deliver care. I'm thrilled to continue my involvement with the company."

"Behind every exceptional product in healthcare is the right team of people bringing it to life," said Travis Schneider, PatientPop Co-founder and Co-CEO. "Adding Steve Tolle, Nathan Dau, and Jonathan Bush to our board enhances our blend of experience that drives innovation, depth of knowledge, diversity of thought, and empathy for our customers, patients, partners, and employees."

To learn more about how PatientPop is driving the healthcare industry's practice growth category, visit patientpop.com.

About PatientPop

PatientPop is the only complete practice growth solution that empowers healthcare providers to thrive in the digital age. By enhancing and automating each touchpoint in the patient journey — from first impression online, to digital booking, to post-appointment follow-up — PatientPop makes it easy for healthcare providers to attract more patients, manage online reputation, modernize the patient experience, and automate the front office. For more information, visit patientpop.com.

About HLM Venture Partners

HLM Venture Partners is a leading venture capital firm and one of the nation's oldest and most experienced in the tech-enabled healthcare services, healthcare information technology, and medical device and diagnostics sectors. Seeking dynamic, emerging-growth companies, HLM invests in the industry's most innovative companies, including Phreesia, Teladoc, AbleTo, Regroup Therapy, Nordic Consulting, meQuilibrium and ClearDATA.

About Transformation Capital (formerly Leerink Transformation Partners)

Transformation Capital is a growth equity fund with over $700M in assets under management that is 100% focused on investing in innovative digital health companies. The firm has three managing partners; Todd Cozzens, Jared Kesselheim, and Mike Dixon who apply their deep sector focus and differentiated combination of investing, operating, and clinical experience to partner with the leading companies in the digital health space. To learn more, please visit: www.transformcap.com.

About Toba Capital

Toba Capital is an early-stage investment firm committed to helping create incredible technology companies. We look for businesses capable of long-term growth and teams with the potential to fundamentally shift markets for the common good. Learn more at www.tobacapital.com.

About Commonfund

Commonfund was founded in 1971 as an independent asset management firm focused on nonprofit institutions. Today, the firm manages $22.6 billion in assets for some 1,300 institutional clients and is one of North America's leading investment firms for educational endowments, foundations, and philanthropic organizations. The firm's only business is investment management, and it is active in all sectors of the global capital markets, both public and private, serving a broad spectrum of investors, including nonprofit organizations, healthcare organizations, family offices, and pension plans.

About Vivo Capital

Founded in 1996, Vivo Capital is a global investment firm focused on healthcare. Vivo has approximately $4.3 billion in assets under management, invested in over 260 public and private companies worldwide. The firm is headquartered in Palo Alto, California, with additional offices in Asia. The Vivo team consists of more than 50 multi-disciplinary professionals, including, physicians, scientists, entrepreneurs, operating executives, and industry experts. Vivo provides a multi-fund investment platform, covering growth equity, private equity including buyout, venture capital, and public equity. Across all fund strategies, Vivo invests broadly in the healthcare sector including biotechnology, pharmaceuticals, medical devices, and healthcare services.

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SOURCE PatientPop