Continued momentum with investment from Leerink Transformation Partners (LTP), a leading healthcare fund, and strong market demand put the company on a swift growth trajectory.
Oct. 31, 2018
SANTA MONICA, Calif. — PatientPop, the market leader in practice growth technology, today announced it has secured a large growth capital round, led by Leerink Transformation Partners (LTP), one of the top healthcare investment firms in the country. The new financing will enable PatientPop to accelerate expansion of its go-to-market capability and continue to innovate in the new category of practice growth.
With the new funding, PatientPop has raised $75 million to date, along with prior round investments from Toba Capital and Silicon Valley Bank. “This additional funding enables us to accelerate product innovation and market expansion, and ultimately fulfill our mission of helping practices thrive,” said Luke Kervin, PatientPop Co-founder and Co-CEO.
“Nearly 80 percent of physician and other provider searches begin online today. To grow and remain competitive, practices across primary care, specialty care, dental, and others must update their digital presence and strategy,” said Travis Schneider, PatientPop Co-founder and Co-CEO. “Instead of using outdated and expensive marketing or technology point solutions, more practices are using PatientPop to attract and retain patients. We’re constantly evolving to ensure our customers and their patients benefit from the most advanced technology for practice growth.”
LTP focuses on investing in disruptive and innovative revenue-stage healthcare information technology and services companies. With this funding round, LTP Co-founder and Managing Partner Todd Cozzens joins the board of directors at PatientPop. Cozzens is a healthcare industry veteran, with past CEO and operating and investing experience at Picis, Optum, and Sequoia Capital.
“We’re positioned to help the best healthcare IT and services companies and their leaders accelerate their growth because of our backgrounds as founders, operators, clinicians, and investors,” Cozzens said. “PatientPop is a category leader in healthcare because it gives doctors a new technology platform to grow their practices by optimizing their online presence. It’s a cost-effective solution for practices small, medium, and large, and the strong ROI delivered by bringing new patients into the practice has been proven across thousands of providers. PatientPop is on a fast trajectory to change how practices run and promote their business.”
PatientPop offers the market-leading practice growth solution that’s proven to help providers thrive in the digital age. Thousands of providers throughout the U.S. and across a wide range of specialties trust PatientPop to manage growth and deliver measurable results.
PatientPop has grown significantly in the past two years and has attracted some of the industry’s top executives to its operations in Santa Monica, Calif., and Boston. To learn more about how PatientPop is driving the healthcare industry’s practice growth category, visit patientpop.com.
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 Leerink Transformation Partners (LTP)
LTP invests in privately-held innovative companies in the healthcare information technology and services sectors. The firm was founded in 2016 by Todd Cozzens and Jared Kesselheim, MD. LTP applies the decades of operational, clinical, and investing experience of its managing partners and team members and extensive industry contacts and its affiliation with Leerink Partners, the largest healthcare-focused investment bank, to help founders and CEOs build valuable businesses. Visit the website at www.LTPequity.com to learn more.
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 Silicon Valley Bank
For more than 30 years, Silicon Valley Bank (SVB) has helped innovative companies and their investors move bold ideas forward, fast. SVB provides targeted financial services and expertise through its offices in innovation centers around the world. With commercial, international and private banking services, SVB helps address the unique needs of innovators. Learn more at svb.com.
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