Portland, Oregon-based Conversa Health, a virtual care and communication platform that helps health organizations stay in touch with their patients and customers, today announced that it has expanded its Series B funding round from $ 12 million to $ 20 million. The round is still co-led by Builders VC and Northwell Health’s venture arm Northwell Ventures. Additional investors include UH Ventures, the venture arm of University Hospitals and VC firms P5 Health Ventures, Epic Ventures, StartUp Health and Nassau Street Ventures, as well Genesis Merchant Capital and J-Ventures, which came in as new investors in this expanded round.
“There’s been a recognition, especially with COVID, that the need for automated and virtual — which are two big trends in healthcare — were on the horizon but now the horizon has been pulled in because of COVID and the healthcare system recognizes that that’s going to be required to be able to allow access for patients and improve both the experience for patients and providers, and get better outcomes and do it at lower cost,” Conversa CEO Murray Brozinsky told me.
Brozinsky actually believes that within the next decade, 80% of care will be done remotely. This will allow for more personalized and evidence-based care, but it will also require investments in automation.
“Conversa links providers’ EHRs and other patient data to best-of-breed interactive digital care pathways and clinical analytics engine to automate care management 24×7. This improves care plan adherence pre and post visit, reducing costs and generating better outcomes for patients,” said Builders VC partner and Conversa board member Mark Goldstein. “Conversa’s enterprise platform and library of digital pathways are used by providers to care for patients across their populations, as opposed to one-off point solutions. It fills an enormous gap in the market.”
Given the pandemic, it’s maybe no surprise that Conversa’s business also boomed. The number of customers the company its services has grown fourfold while its financial metrics are up 6x because a lot of its larger companies have expanded their use of the platform.
The team decided to expand the existing Series B round to help it capitalize on this momentum and to bring on more engineers in order to scale the platform. Brozinsky believes that the need for a platform like Conversa’s will remain after the pandemic ends. In addition, the company is also already rolling out support for vaccination programs in its service to help educate consumers but also help in monitoring efforts after people get their shots.
“Everything we’re hearing from health systems, they recognize that they need to be prepared for this to happen again, they still need to care for the core demographics that haven’t changed — this aging population — with an acute shortage of healthcare workers,” Brozinsky said. “So the need for the systems and these platforms is going to be more acute and the investment is not so much an additional cost but an enormous return.”
Of late, the marketplace model has been gaining a lot of momentum, encouraging many small to medium businesses to set up online stores. However, once a seller starts to manage multiple accounts on marketplaces, the experience can be nerve-wracking at times.
It takes some work and skill to keep things running smoothly and create a fluid customer experience. Meanwhile, if you are wondering how to handle them all at once, ChannelEngine is here to help you.
Based out of Leiden, ChannelEngine helps brands, wholesalers, and retailers to effectively sell on marketplaces in a fully automated way.
Raised €5M funding
Recently, the Dutch company has received €5M in Series A funding led by INKEF Capital, with participation from existing investor Airbridge Equity Partners.
The Dutch company will be using the funding to continue the rollout in Europe and to expand into APAC, Russia, the Middle East as well as both North and South America. On top of that, ChannelEngine plans to hire 70 new employees worldwide in 2021 across various levels and roles.
Getting most out of marketplaces
Founded by Jorrit Steinz, ChannelEngine gives businesses of any size the chance to expand their reach, connect with more consumers, and grow their business.
With a single SaaS integration, the Dutch startup connects sellers’ systems to international marketplaces and sales channels while optimising sales, minimising time, and maximising profit and reach.
According to ChannelEngine, “We help brands to gain control by selling directly on multiple online marketplaces. We help distributors to boost their revenues with better margins. We help retailers by selling more products wherever customers are searching for them.”
Facilitated over 3 million products
At present, the Dutch company works with global brands including JBL, Bugaboo, and Staples, amongst hundreds of others. As per the company’s claims, ChannelEngine facilitates the sale of over 3 million products from 1500 brands to over 100 marketplaces.
Jorrit Steinz, CEO & Founder of ChannelEngine says, “On a global scale, e-commerce is becoming a driving force of all retail sales. Customers have shifted their search behaviour for products from search engines to marketplaces. Large e-commerce players, as well as search engines, social media platforms, and comparison sites, are turning into marketplaces themselves.”
“While this creates more sales opportunities for brands and retailers, they are faced with the challenge of managing all these different channels at the same time. That’s why we’ve built ChannelEngine, a powerful Software as a Service platform that enables Brands, Retailers, and Distributors to connect, automate, and manage their sales on all these international sales channels,” he adds.
Amstedam-based INKEF Capital is a venture capital firm that backs promising early-stage companies in Europe. Its focus areas are technology and healthcare. “INKEF Capital covers multiple investment stages but focuses mainly on series A investments. For exceptional teams it also considers seed capital to turn a great idea into a company or growth capital to give a running start-up the next push,” says the firm.
Munich-based Personio, the all-in-one HR platform, today announces approx. €103.5 million of new and preemptive Series D funding in an investment round that values the business at around €1.4 billion. The new funding will accelerate further the scaleup’s international expansion, supporting its ambition of becoming Europe’s leading HR platform for SMEs. It follows a strong…
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