healthfinch Secures $7.5M in Series A Financing, Led by Adams Street Partners, to Build Out its Practice Automation Platform
1/4/2016 – Madison, WI – healthfinch, the healthcare IT company behind the award-winning application Swoop (for prescription refill requests) has secured $7.5M in Series A Financing to build out its Practice Automation Platform, “Charlie.” Investment firm Adams Street Partners led the round, with participation from JumpStart Ventures, Chicago Ventures, OCA Ventures, Abundant Ventures and a private investor. This financing round brings healthfinch’s total raise to over $10M since Chief Executive Officer Jonathan Baran, MS and Chief Medical Officer Lyle Berkowitz, MD founded the company in 2011.
CEO Baran explains, “The rapid adoption and demand from health systems for Swoop is a clear indication that automating routine and repeatable tasks is the future of healthcare delivery. To this end, we’re moving beyond individual applications in favor of a robust Practice Automation Platform that can handle many more tasks beyond prescription refill requests including visit planning, patient communication and much more.”
Investment firms, like Adams Street Partners, have been quick to recognize healthfinch’s vision and its ability to execute for customers. Tom Bremner, a partner at Adams Street states, “healthfinch represents a very strategic and promising addition to our investment portfolio. They have what we deem to be a winning trifecta: strong clinical and executive leadership, a compelling product roadmap that will bring clear value to the healthcare system, and most importantly, clients who have been using healthfinch products to achieve up to 5X efficiency and financial ROI.”
Baran and his executive team, including Chief Operating Officer Sanaz Cordes, MD and Chief Technology Officer Jonathan Broad, will use Series A funds to augment their technical and clinical teams to accelerate development of the Charlie platform and expedite delivery to health systems.
“Every entrepreneur dreams of securing funding from those who believe in their vision and will help them succeed. I’m thrilled to be working with a group of investors who share our passion to transform healthcare,” Baran states.
To schedule an interview or for more information, contact healthfinch’s Vice President of
Marketing Karen Hitchcock at 608-513-6566 or Karen@healthfinch.com www.healthfinch.com
Founded in 2011, healthfinch’s mission is to transform healthcare delivery by automating what can be automated, delegating what can be delegated, and simplifying the rest. It’s flagship product, Swoop, integrates seamlessly with leading electronic medical record systems to automate the prescription refill request workflow. Building on Swoop’s success, healthfinch is building a Practice Automation Platform to simplify additional workflows. healthfinch is headquartered in Madison, Wisconsin, has 30 staff, all dedicated to building solutions to healthcare’s biggest challenges: inefficient workflows, physician and staff burnout, and managing the massive volume of population health and EMR data.
About Adams Street Partners
Adams Street Partners is one of the largest managers of private equity investments in the world and has one of the longest histories. Together with its predecessor organizations, Adams Street Partners has been managing venture capital and growth equity investments in private equity since 1972 and investing in private equity partnerships since 1979. Adams Street Partners’ venture capital and growth equity team focuses on providing capital to rapidly growing healthcare and technology companies. The firm currently has 130+ employees and more than $26 billion of assets under management. Adams Street Partners has offices in Chicago, London, Menlo Park, Singapore, Beijing and Tokyo.