Led by investors like Kaiser Permanente, the data-driven DexCare, Inc., which is focused on healthcare access, has announced a $50M Series B funding. The list of investors includes Transformation Capital, Providence Ventures, Mass General Brigham, Define Ventures, Frist Cressey Ventures and SpringRock Ventures.
- Fund will help accelerate platform development: CEO: Reacting to the latest capital infusion, Derek Streat, Co-founder and CEO of DexCare, said, “Hospitals are moving to hybrid care and need a single solution to attract new patients and to connect them both virtually and in-person with their own caregivers.” Streat said that investment will help us accelerate platform development and go-to-market progress for our growing number of premier health systems such as Kaiser Permanente, Providence, Mass General Brigham, CHS, Houston Methodist and others.
- Kaiser Permanente expects health system to get a boost: Hailing the infusion, Liz Rockett, Managing Director, Kaiser Permanente Ventures, expressed hope that the latest round of capital funding will help address the bigger challenge of a robust health system. Rockett said, “We understand the impact of the DexCare solution to expand access for digitally-enabled care in a manner that balances and optimizes demand with provider availability. We are excited to invest in DexCare as we believe it addresses a pressing and persistent need for health systems.”
- Company raised capital twice within a year: DexCare has managed to close two oversubscribed rounds of funding in less than a year, totaling $71M to-date. The firms plans to use the latest infusion to support and accelerate its growth with investments in product and technology innovation, customer experience, and recruiting world class talent. The finances will also give DexCare the flexibility to meet customer demand to expand into additional new service lines and care modalities.
- Need for health tech amplified during pandemic :The latest round of funding comes at a time when more urgency has been felt in last two years due to Covid pandemic for the consumer-facing health technologies in delivering high quality, affordable, on-demand care. With its expertise in technology, company expects that the combination of focused digital health applications and interoperable operating systems will unlock significant opportunities to deliver targeted, cost-effective, personalized care that produces optimal outcomes for all parties involved.
- Financier hails DexCare’s social media team: One of the financier, Transformation Capital has hailed the impact and effectiveness of DexCare’s social media segment.Todd Cozzens, Co-founder and Managing Partner at Transformation Capital, said, “DexCare brings a comprehensive patient access and intake platform to health systems. Competition for patients is a major issue in 2022 for hospitals. DexCare’s integration with social media drives access to new patients, books an immediate televisit with specialist care providers and secures virtual and in-person appointments and follow-up maximizing the health system’s own providers. A must-have tool in our new world of hybrid care.”
