HealthSnap Raises $25M in Series B Funding to Expand Remote Patient Monitoring Solution
Miami-based healthcare provider, HealthSnap, has secured $25 million in Series B funding to expand its remote patient monitoring (RPM) and chronic care management (CCM) solution. The funding round, led by Sands Capital, brings the company’s total funding to $48.5 million.
The latest funding round saw new investments from Comcast Ventures, Acronym Venture Capital, and Florida Opportunity Fund, as well as participation from existing shareholders including Asclepius Growth Capital, Florida Funders, MacDonald Ventures, and TGH Ventures. As part of the investment, Scott Frederick, a Managing Partner at Sands Capital, will join HealthSnap’s board of directors.
HealthSnap plans to use the funding to assemble its national clinical team, accelerate its product roadmap, and build its AI-powered population health and analytics solution. The company is actively hiring for positions such as care navigator nurses, customer success managers, and patient enrollment specialists.
HealthSnap’s CEO, Samson Magid, leads the company in providing an integrated virtual care management platform that helps healthcare organizations improve patient outcomes, reduce utilization, and diversify revenue streams. The platform offers a range of services, from chronic disease-agnostic remote patient monitoring and chronic care management to AI-guided care coordination, virtual care delivery, patented billing tools, and population analytics.
In 2023, HealthSnap announced partnerships with health systems UnityPoint Health and Prisma Health, focusing on improving clinical outcomes for chronic conditions such as hypertension, heart failure, obesity, and Type 2 diabetes.
With the latest funding, HealthSnap is poised to expand its remote patient monitoring solution and meet the growing demand for care in the home.
Analyst comment
Positive
The market is expected to grow as HealthSnap secures $25M in Series B funding to expand its remote patient monitoring solution. The funding will allow the company to assemble its clinical team, accelerate its product roadmap, and build AI-powered population health and analytics solution. With partnerships in place and growing demand for care in the home, HealthSnap is well-positioned for success.
