DrChrono — the maker of a mobile-friendly EHR, billing and practice management platform, has raised $20 million in a newly announced growth capital round headed by ORIX Growth Capital.
WHAT THEY DO
DrChrono was one of the first companies to offer an EHR that ran on mobile devices like smartphones and tablets natively, and in particular worked closely with Apple and others to ensure that its software ran on the tech giant’s products.
Nowadays, the almost nine-year-old company offers an open platform featuring an API and app marketplace. Between its EHR, practice management, medical billing and revenue cycle management tools, the company says that it is being used by “thousands” of physicians treating more than 17.8 million patients, has helped to book 69 million appointments, and has facilitated over $11 billion in medical billings.
WHAT IT’S FOR
DrChrono said it would be reinvesting these funds into its tech platform, as well as in the growth of its engineering, sales and support capabilities.
“With our platform and services evolving and maturing, we are in an excellent position to bring the DrChrono platform to larger facilities and specialty practices,” Daniel Kivatinos, cofounder and COO of DrChrono, said in a statement. “Our goal with this additional funding from the ORIX team will be to make the software experience even more amazing, and make critical hires to ensure DrChrono provides the most innovative technology to medical practices.”
MARKET SNAPSHOT
Much of the news out of DrChrono of late has been the announcements of new provider and tech vendor partners. Major deals for the company within the past year or so include agreements with OutcomeMD, Updox, HealthFeed, Beam Health, CoverMyMeds, Physitrack and others.
ON THE RECORD
“After meeting the DrChrono executive team, we were excited about their vision of the future, where healthcare will simply work for physicians and for their patients on a modern platform,” David Orlandella of ORIX Growth Capital, said in a statement. “Clearly having a modern cloud-based platform is part of the future. We loved the ecosystem of extendible apps that can be layered onto the platform, making it a powerful operating system of any medical practice.”
