Venture Capital News: Healthfinch Raises $6M
MADISON, WI, Healthcare IT company has secured $6MM in financing led by Adams Street Partners.
healthfinch, a Madison-based healthcare IT company, has secured $6MM in financing led by Adams Street Partners to continue building and supporting its award-winning Charlie Practice Automation Platform. This funding brings the company's total raised to over $17MM since it was founded in 2011.
Notable achievements over the last quarter include:
Support of over 4,000 providers and 1.5 million patients
Recipient of the 2018 athenahealth Innovation Award for work in driving meaningful change in healthcare delivery and organizational outcomes
Inclusion in the 2017 KLAS Emerging Technologies Report
Inclusion in the first wave of vendors on the Epic App Orchard
"As healthcare organizations continue to come under pressure to 'do more with less,' while at the same time fighting high levels of provider burnout, we have seen the explosion of market awareness and adoption around technology to automate routine, repetitive clinical tasks," remarks Jonathan Baran, healthfinch's CEO. "This market readiness for practice automation technology, combined with a sea of change from existing Electronic Medical Record vendors opening up their platforms for innovation, means that we are at the beginning of a technology shift that will drive the healthcare industry forward."
Investors see this as an extraordinary opportunity as well. Tom Bremner, a partner with Adams Street, states, "Helping healthcare organizations drive operational efficiency by automating and standardizing manual workflows is critically important. Every health system wants and needs to reduce provider burnout, drive cost savings, and free up clinicians to spend more time with their patients."
healthfinch plans to use the funds to support the company's continued growth. Baran adds, "We're excited about the future and opportunities that this funding will provide. It will enable us to take a great product even further, in terms of both development and reach."
healthfinch develops and manages the Charlie Practice Automation Platform, which aims to reduce provider burnout, improve quality metrics and enhance patient satisfaction. Through seamless EMR integrations, Charlie's Refill Management and Visit Planning applications enable healthcare systems across the country to automate, delegate and simplify their workflows. Learn more at healthfinch.com.
About Adams Street Partners
Adams Street Partners is one of the largest and most established private markets investment firms in the world. Adams Street commenced its investment program in 1972, and manages more than $32 billion of assets across five strategies - primary and secondary fund investments, co-investments, private credit investments, and direct venture/growth investments. Adams Street employs ~160 professionals in Chicago, London, Menlo Park, Munich, New York, Seoul, Singapore, Beijing, Boston, and Tokyo. To learn more, please visit http://www.adamstreetpartners.com.
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