Inbox Health, a New Haven, CT-based company that provides a patient billing communications platform, completed a $22.5 million Series B financing round, bringing total capital raised to more than $43 million since inception.
The round was led by Ten Coves Capital, with participation from existing investors including Commerce Ventures, CT Innovations, Vertical Venture Partners, Healthy Ventures, and Fairview Capital.
The new growth capital will further accelerate Inbox Health's strategic growth as it continues to improve and modernize the billing, support, and payment experience for even more patients and healthcare organizations.
"It's tremendous to see the impact our team has been able to have on the patient experience of millions of people over the last few years," said Blake Walker, co-founder, and CEO of Inbox Health. "It's humbling to recognize the number of patients who still struggle with frustrating billing experiences and see how many providers and billers continue to navigate inefficient workflows. We have an opportunity to use this funding to magnify our impact and reach millions more patients, and that is motivating for our team."
Today, more than 2,600 medical practices across the U.S. rely on Inbox Health, and more than 3.5 million patients have used the platform to pay a healthcare bill. As part of the investment, Piaker is joining the Inbox Health Board of Directors.
Company: Inbox Health, Inc.
Raised: $22.5M
Round: Series B
Funding Month: May 2023
Lead Investors: Ten Coves Capital
Additional Investors: Commerce Ventures, CT Innovations, Vertical Venture Partners, Healthy Ventures, and Fairview Capital
Company Website: https://www.inboxhealth.com/
Software Category: Patient Billing Communications Platform
About the Company: Inbox Health directly addresses one of the fastest-growing problems in healthcare—the challenge of patient A/R. Built for medical billers, Inbox Health automates patient billing and patient payments and modernizes the patient support experience. Inbox Health improves patient engagement by providing clear medical bills immediately after service, choice of payment methods and communication channels, and fast, empathetic support through the phone and live chat. Inbox Health currently serves over 2,500 healthcare practices and has supported over 3.5 million patients. Headquartered in New Haven, Conn., Inbox Health was recently named to the Inc. 5000 list of fastest-growing private companies in America.
Source: https://www.inboxhealth.com/inbox-health-raises-22-5-million-series-b/