OpenLoop, which supplies staffing and assist to digital well being firms launching digital care providers, garnered $15 million in Collection A funding and introduced a nationwide payer community and income cycle administration service.
Nava Ventures led the spherical with participation from PrimeTime Ventures, UnityPoint Well being Ventures, ManchesterStory and SpringTide Ventures.
WHAT THEY DO
The Iowa-based firm provides regulatory and authorized help, telehealth infrastructure, supplier staffing, administrative providers and income cycle administration to firms constructing digital care providers.
The corporate’s payer protection and income cycle administration service merges its nationwide payer protection clinician community with its income cycle administration choices to assist digital well being firms with the reimbursement and cost course of.
“OpenLoop has seen superb progress inside our firm within the final 12 months. Our dedication to offering digital care providers that target supporting superior and significant affected person care at each touchpoint is what’s pushed that success. We look ahead to the alternatives this subsequent spherical of funding will convey to the corporate and our shoppers,” Jon Lensing, CEO and cofounder of OpenLoop, mentioned in an announcement.
MARKET SNAPSHOT
In 2022, OpenLoop scooped up $8 million in Collection A funding, a 12 months after it closed an oversubscribed $3 million seed spherical.
One other digital care staffing and providers vendor is Wheel, which raised $150 million final 12 months in Collection A funding, bringing its whole elevate to $216 million. In November, the corporate acquired GoodRx’s backend digital care expertise for $19.5 million in money.
Nonetheless, Wheel was not proof against the latest string of layoffs amongst tech firms. Over the summer season, the Texas-based outfit laid off 17% of its workers, or 35 staff, and final month let go of 56 staff, or 28% of its workforce.
Emily Kwan will supply extra element at her HIMSS23 session “Implementing an AI NLP Instrument to Tackle SDOH Wants.” It’s scheduled for Tuesday, April 18, at 1:30 p.m. – 2:30 p.m. CT on the South Constructing, Degree 1, S105 C.
