DexCare, a Seattle WA-based data-driven intelligence company focused on healthcare access, announced that it raised $50 million in Series B funding to advance its digital care operating system.
The round was led by Transformation Capital, with participation from all existing investors, Kaiser Permanente, Providence Ventures, Mass General Brigham, Define Ventures, Frist Cressey Ventures, and SpringRock Ventures.
The new funds will be used to support and accelerate DexCare’s growth with investments in product and technology innovation, customer experience, and recruiting world-class talent. The funding also enables DexCare to meet customer demand to expand into additional new service lines and care modalities.
Company: DexCare, Inc
Round: Series B
Funding Month: January 2022
Lead Investors: Transformation Capital
Additional Investors: Kaiser Permanente, Providence Ventures, Mass General Brigham, Define Ventures, Frist Cressey Ventures, and SpringRock Ventures
Company Website: https://www.dexcarehealth.com/
Software Category: Health system capacity management platform
About the Company: DexCare is a Platform-as-a-Service (PaaS) for health systems that intelligently orchestrates digital demand and health system capacity across all lines of care. In a complex and vast sea of virtual point solutions, DexCare is the operating system that makes it all work. DexCare's data-driven intelligence engine allocates, flexes, and optimizes resources to best meet both consumer demand and health system business goals—expanding the reach of health system service lines into a new, digital and on-demand consumer arena. The platform attracts and caters to high-value consumers by providing a fully-digitized, unified experience that routes consumers to the best care options while leveraging existing EMR, caregiver, and brand investments. Incubated at Providence, one of the nation's largest and most innovative health systems, DexCare has enabled service lines to attract 30% more new patients, capture 5x downstream revenue, generate 22% per patient encounter in costs savings, and deliver a net promoter satisfaction score greater than 90. DexCare customers include leading health systems across the U.S.