Practice Fusion, a US-based provider of free electronic health records, has raised an additional $15m in its series D round of investment, co-led by new investors Qualcomm Ventures, the venture capital arm of semiconductor company Qualcomm, and venture capital firm Longitude Capital; also participating in the funding extension were venture capital firms Industry Ventures, Band of Angels and ARTIS Ventures.
The funds will be added to the $70m funding raised in September 2013, led by Kleiner Perkins Caulfield & Byers, and including Band of Angels and ARTIS Ventures.
Including the latest funding, Practice Fusion has raised $155m since 2009. In February 2013, Practice Fusion acquired 100Plus, one of its incubator’s portfolio companies, for an undisclosed amount.
“Practice Fusion doctors have facilitated six percent of all patient visits in the US this year. This huge reach makes us the front-running health technology company, and we’re going to double that reach next year,” said Ryan Howard, chief executive officer of Practice Fusion.
Practice Fusion provides electronic tools and online platforms to store medical records, communicate patients with their physicians and connect medical centres, such as hospitals, laboratories or research institutions.
Gregory Grunberg, managing director at Longitude Capital, said: “Practice Fusion is dramatically improving patient care by delivering critical, quality information and tools at the right time and place. It is a powerful and simple addition to any clinical practice setting.”
Jack Young, Qualcomm Life Fund’s director, said: “Considering the reach and potential of the platform, we’re excited to become a part of their long-term vision, especially as healthcare grows more personalized and mobile than ever before.”