UptimeHealth – a provider of medical practice workflow automation solutions – raised $4.5 million in Series A funding from Caduceus Capital Partners and Wavemaker Three-Sixty Health (Wavemaker 360).
The startup plans to use the new funds to accelerate its growth and expansion in the healthcare services market. The fresh funds will also help develop our medical practice management platform, allowing hospital administrators and operators to handle compliance responsibilities, improve access to actionable data, and enhance operational efficiencies, the company states in the press release.
Investors
Commenting on the funding news, Dave Vreeland, senior managing partner at Caduceus Capital Partners, said: “By offering a simple and effective way to optimize equipment management, UptimeHealth is enabling higher-quality, lower-cost care in outpatient settings.”
Wavemaker 360 is a seed-stage healthcare venture fund that invests in health tech, digital health, medical device, telehealth, artificial intelligence, pharma tech, and science companies. The fund has a robust portfolio of 40 healthcare companies. Its latest investment includes Materna Medical ($20 million), Epitel ($12.5 million), and DeepScribe ($5.2 million).
“We invest in entrepreneurs that are making a dent in the healthcare universe,” said Jay Goss, general partner at Wavemaker 360. “UptimeHealth offers a revolutionary service that is in demand throughout the growing outpatient sector and will enable better patient experiences and outcomes. We look forward to this partnership and working alongside them in their growth journey.”
According to our funding database, medical practice management software startups have raised more than $10+ billion in funding to date. More recently, Olio Health, a provider of medical process automation and care collaboration platform for post-acute care and population healthcare providers, raised $13 million in Series A growth investment from Fulcrum Equity Partners.
In another deal, Agamon Health, an Israeli digital health startup that is redefining patient management in radiology, replacing manual processes with intelligent automation – to bridge the patient care gap, raised $5 million in funding from eHealth Ventures.
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