US-based digital health technology developer DexCare has raised $20m from investors including Kaiser Permanente Ventures and Providence Ventures, on behalf of healthcare providers Kaiser Permanente and Providence Health.
Venture capital firm Define Ventures led the round, which also featured healthcare-focused VC firms Frist Cressey Ventures and SpringRock Ventures.
DexCare has built a software platform that enables hospitals to manage large amounts of data in order to efficiently allocate capacity and meet patient demand. The platform was developed by Providence in 2016 and DexCare was spun off by its Digital Innovation Group this year.
Aaron Martin, Providence’s executive vice-president and chief digital officer, has a board seat at the company, as does Lynne Chou O’Keefe of Define Ventures.
Providence president and CEO Rod Hochman said: “DexCare was instrumental as we transformed our ambulatory care model to better meet the needs of patients over the past few years. In 2020, scalability of the DexCare platform was instrumental in our response to covid.
“We are proud that this internally developed and incubated technology is now ready to be made available to other health systems – furthering the Providence vision of health for a better world.”