US-based care collaboration platform developer PatientPing secured $60m in series C funding on Tuesday from a consortium co-led by GV, an early-stage corporate venturing subsidiary of internet and technology conglomerate Alphabet.
GV co-led the round with F-Prime Capital, a subsidiary of financial services and investment group Fidelity, as well as venture capital firm Andreessen Horowitz and growth equity fund Transformation Capital. They were joined by unnamed existing investors.
PatientPing operates an online platform that enables healthcare providers and health plans to exchange medical information in real time, alerting relevant staff to the admission, discharge and transfer (ADT) of patients.
The company has also launched a patient engagement and enrolment tool dubbed Callouts and a real-time network performance management service called Spotlights, and offers a feature that identifies and monitors presumptive Covid-19 patients.
The round comes ahead of a regulatory deadline in the United States that will require hospitals to issue ADT notifications. The funding will allow PatientPing to expand further across the US, where it is already used by more than 1,000 hospitals and 5,000 post-acute care facilities.
PatientPing had previously raised $31.6m in a 2016 series B round co-led by Andreessen Horowitz and Leerink Transformation Partners, after GV and F-Prime Capital co-led its $9.6m series A round in 2015, investing alongside First Round Capital and SV Angel.
