What is Collectly?
Founded in 2017 by Levon Brutyan and Maxim Mizotin, Collectly operates at the intersection of healthcare and fintech. The company provides a sophisticated patient financial engagement platform that integrates seamlessly with existing Electronic Health Records (EHR) and Practice Management (PM) systems. By automating the billing process, Collectly enables medical groups to optimize their revenue cycles, significantly reduce Days Sales Outstanding (DSO), and enhance overall patient retention through transparent and accessible payment interfaces.
The platform serves as a critical infrastructure layer for modern medical practices, transforming the traditionally fragmented patient billing experience into a streamlined, digital-first operation. Its proprietary interface technology ensures that providers can maintain high levels of operational efficiency while simultaneously improving the financial experience for their patients.
How much funding has Collectly raised?
Collectly has raised a total of $29M across 1 funding round:
Series A
$29M
Series A (2023): $29M with participation from Sapphire Ventures, Burst Capital, YC, and Cabra VC
Key Investors in Collectly
Sapphire Ventures
Sapphire Ventures is a prominent venture capital firm based in Palo Alto, specializing in scaling technology companies through strategic capital and operational support.
Burst Capital
Burst Capital is a California-based venture firm focused on making minority investments in high-growth software and service-oriented enterprises.
Cabra VC
Cabra VC is a Cyprus-based investment firm that targets early-stage, post-revenue companies, providing the necessary support for rapid organizational scaling.
What's next for Collectly?
Following this major enterprise-level funding, Collectly is poised to deepen its market penetration and enhance its technological capabilities. The strategic focus will likely center on expanding its integration ecosystem to support a broader range of healthcare providers and refining its predictive analytics tools to further improve collection rates. As the healthcare industry continues to shift toward consumer-driven models, Collectly's ability to provide a frictionless financial experience will be a key differentiator in its long-term growth strategy.
The company is expected to utilize these resources to bolster its engineering and sales teams, ensuring it remains at the forefront of the digital health transformation. By maintaining its commitment to operational excellence and patient satisfaction, Collectly is well-positioned to capture a larger share of the healthcare revenue cycle management market.
