US-based patient management software developer Collective Medical Technologies secured $47.5m in series A funding yesterday from a consortium including care providers Providence Health & Services and Kaiser Permanente.
Venture capital firm Kleiner Perkins Caufield & Byers led the round, which included Bessemer Venture Partners, Maverick Ventures, Peterson Ventures and Epic Ventures. Providence and Kaiser Permanente contributed through respective subsidiaries Kaiser Permanente Ventures and Providence Ventures.
Collective has created a software platform made up of two products that manage patient care on a local level. One part, Edie, is designed for emergency departments and links teams across multiple facilities to identify high-risk patients with complex needs and provide access to their care history.
The other product, PreManage, is for health plans and providers managing a wider patient population. It tracks a patient’s care and allows easy communication and coordination between different teams, while providing some of the same functionality as Edie by identifying high-risk patients in emergency care.
The series A funding will be used to expand Collective’s partner network. The round represents the first external funding to be raised by Collective since it was founded in 2009.
Collective Medical CEO Chris Klomp said: “Our job is to connect care teams. By arming providers and payers with real-time insights and a platform to seamlessly collaborate across organisations and care settings, we ensure patients do not slip through the cracks.”