US-based healthcare solution provider HealthSnap has secured an investment of $25m in a Series B financing round.
The investment round was led by Sands Capital and included contributions from new investors Acronym Venture Capital, Comcast Ventures and Florida Opportunity Fund.
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It also involved the company’s existing shareholders, Asclepius Growth Capital, Florida Funders, TGH Ventures and MacDonald Ventures.
The influx of capital has increased HealthSnap’s total funding to $48.5m.
HealthSnap will use the funding to expand its national clinical team, expedite its product development to meet the growing demand for home-based care, and begin to develop its artificial intelligence (AI) powered population health and analytics solution.
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The company’s solutions aim to shift the patient chronic care delivery paradigm to a proactive, ongoing home delivery model.
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By GlobalDataHealthSnap co-founder and CEO Samson Magid said: “Nearly half of the US population is living with a chronic condition that requires ongoing monitoring and care beyond the walls of the physician’s clinic.
“We created HealthSnap to bridge that gap in care and we are pleased that our patient outcomes data demonstrate meaningful improvements.
“Our team is focused on a common goal to shift the paradigm of chronic condition management and improve the lives of patients every day, and this new financing enables greater programme accessibility for patients across the country.”
Over the past year, HealthSnap has expanded its partnerships with health systems such as UnityPoint Health and Prisma Health, as well as seen improved clinical outcomes data for chronic conditions such as heart failure, hypertension, obesity and Type 2 diabetes.
Sands Capital managing partner Scott Frederick said: “HealthSnap’s suite of solutions is a win-win for healthcare providers, who continue to show their conviction in providing the programmes for their patients.
“We are proud to lead this round of funding.”
Frederick has agreed to join HealthSnap’s board of directors following this Series B round.
