Phreesia has managed to secure $30 million in fresh cash in a round led by private equity firm LLR Partners. Also participating were existing investors HLM Venture Partners and Ascension Ventures.
Phreesia processes over 2 million healthcare transactions each month.The company, which offers healthcare point-of-service platform solution, will use the money to accelerate product development and expand its customer base. Some of the Phreesia’s patient self-service solutions include electronic payment applications, clinical and administrative data collection, and consent form management. Said solutions help healthcare organizations automate front-office workflow and drive tangible bottom-line results.
Phreesia processes over 2 million healthcare transactions each month, saving more than 1.5 million paper forms each week while increasing cash flow in healthcare organizations by 10-30 percent.
“Phreesia’s innovative solutions help improve delivery of care and boost profitability for practices, setting it in a class of its own in the healthcare technology industry,” says Scott Perricelli of LLR Partners. “A high-growth company led by a dynamic management team, Phreesia is singularly focused on disrupting the norm in healthcare by integrating solutions for key areas that drive efficiency, including patient registration, intake, payments, clinical documentation and targeted patient communications.”