Healthcare coordination and communications software provider Caremerge announced on Wednesday that it has raised $14 million to further boost its solution’s growth in the healthtech marketplace.
Insight Venture Partners led the round, with participation from a number of previous investors including Grażyna Kulczyk, Cambia Health Solutions, Ziegler LinkAge Longevity Fund, GE Ventures and Arsenal Venture Partners.
"We're delighted to welcome Insight Venture Partners into the Caremerge family,” said CEO and co-founder Asif Khan in a statement. “Insight has tremendous expertise in scaling SaaS companies and we look forward to harnessing all Insight has to offer and exponentially growing Caremerge together."
Launched in 2012, Caremerge’s platform streamlines information flow about non-emergency healthcare for the elderly between caregivers, families and patients. In so doing, the company hopes to increase the availability of relevant information for all parties involved, with the ultimate goal of improving healthcare outcomes — an increasingly relevant concern for providers, thanks to results-based incentives embedded in the Affordable Care Act.
The company’s flagship SaaS product is web-based, HIPAA compliant and optimized for mobile displays. In operation at 400 locations nationwide, it is estimated to impact 70,000 patients.
In addition, Insight Venture Partners VP Harley Miller and Dan Hermann, Senior Managing Director and Head of Investment Banking at Ziegler, will both join the Caremerge Board of Directors.
"We are excited to become part of the Caremerge story,” said Miller in a statement. [We] share the same belief that the next era of healthcare, driven by value-based care (ACA) requires a simple, yet flexible platform capable of breaking healthcare silos while placing the patient at the center and allowing for cross-enterprise workflow automation."
The company raised $2.1 million in 2013 and another $4 million in January of last year, placing its funding total just north of $20 million.
Images via Caremerge.
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