US-based healthcare expenses management platform Simplee has raised $20m in a series C round that included American Express Ventures, the investment arm of payment services firm American Express, Globes reported yesterday.
The round was led by venture capital firm Social Capital, while 83North and Heritage Group also participated.
Founded in 2011, Simplee’s platform helps healthcare providers estimate and issue bills to patients, who can clearly see which services and procedures for which they are paying.
The company currently works with approximately 900 hospital and doctor groups that have a combined total of five million patients. It focuses on the US market but conducts its R&D operations in Israel.
Simplee secured $10m in a 2013 series B round led by Heritage Group that included Social Capital and Greylock IL (now known as 83North), both of which had also backed its $6m series A round in 2012.
Greylock IL led an $1.8m seed round for Simplee in 2011 that also featured a range of Israel-based angel investors.
Harshul Sanghi, managing partner at American Express Ventures, said: “Simplee has developed a smart technology platform that reduces the friction in healthcare payments, an increasingly complex ecosystem to navigate.
“We are pleased to invest in solutions that provide a more seamless experience for patients and providers alike.”