|
|
| Home - Venture Financing News |
Archives |
GetWellNetwork, Inc. Closes $9 Million in Series B Financing |
GetWellNetwork, Inc., a leading provider of Interactive Patient Care solutions, has announced a $9 million Series B round of financing led by Valhalla Partners. Also participating were first round investors including The Grosvenor Funds, Point Judith Capital, Long River Ventures, Village Ventures, Tall Oaks Capital, and FreshTracks Capital.
GetWellNetwork is a pioneer and continuing innovator in a new class of Interactive Patient Care (IPC) solutions. With the rise of healthcare consumerism, there is an increased market demand for products and services that enable healthcare providers to empower patients. Through IPC, patients become active participants in their healthcare process by using tools directly at the bedside that provide discharge education, medication information, patient safety, pain management, and health and wellness information, among others.
“Factors such as government compliance standards and potential changes in Medicare reimbursement are driving hospitals to adopt IPC solutions in record numbers,” said Scott Frederick, General Partner, Valhalla Partners. “As an early leader in the growing IPC market, GetWellNetwork is poised to become the global leader in this space, and Valhalla Partners is excited to work with the company as it expands its reach throughout the country and the world,” Scott said.
Facilities within leading healthcare systems including Catholic Healthcare West, Inova Health System, and Sentara Health System use the GetWellNetwork® solution to improve patient satisfaction and healthcare outcomes. The company will use the funding to fuel sales and marketing efforts, execute on its product development roadmap, as well as provide working capital to scale operations.
“With the recent signing of several large healthcare systems, we recognize that the market opportunity for IPC is accelerating quickly,” said Michael O’Neil Jr., Founder and Chief Executive Officer, GetWellNetwork, Inc. “The new round of funding enables us to continue to provide innovative, best-in-class applications that are financially and clinically relevant to hospitals while improving the lives of patients at the bedside each day,” Michael said.
|
|
|
