SwervePay has raised $10 million from investors in and alongside its Series B round. Chicago-based Garland Capital Group led the round that will be used to support the growth and expansion of the company’s patient-centric payment solution in healthcare.
SwervePay enables patients to pay their medical bills via text message. On the other hand, the service helps healthcare facilities reduce outstanding patient balances, lower debt and administrative costs.
“With the business acumen around healthcare, payments, and growing large enterprises, this investment is more validation that our innovations will continue to blaze the path we created in changing how patients pay for healthcare,” Jaeme Adams, co-founder and CEO of SwervePay, said in a statement.
SwervePay launched self-funded in 2010 and raised $1.6 million in Series A funding in 2014. In addition to Garland Capital Group, its investors include: Chris Capps and Dick Kiphart of KGC Capital; Greg Wasson, former president and CEO of Walgreens Boots Alliance; Jim Sohr, founder and former CEO of AIM Healthcare Services; Mandell Ventures, LLC; Ned Jannotta, Jr., former partner of GTCR; and Ric Elias of Red Ventures.