Healthcare payments network InstaMed has recently raised $17 million in private placement funding, which the company says, is $2 million more than it initially intended.

Among those pouring money in InstaMed are Osage Partners, NJTC Venture Fund, Ben Franklin Technology Partners and Midas Capital.

The company plans to use the proceeds to expand its network and grow to 200 employees, up from the current staff of 150.

InstaMed boasts itself as “the only fully integrated payments network for healthcare,” processing billions of dollars per month for tens of thousands of hospitals, provider practices and payers, and millions of patients.

The company recently ranked on Deloitte’s “Fast 500” list.

[Via: BizJournals]