What is Collectly?
Founded in 2017 by Levon Brutyan and Maxim Mizotin, Collectly provides a sophisticated patient financial engagement platform. The software integrates seamlessly with existing Electronic Health Records (EHR) and Practice Management (PM) systems, effectively automating the billing process. By digitizing patient interactions and providing transparent payment options, the company helps medical practices reduce Days Sales Outstanding (DSO) and improve overall patient retention. Its market position is defined by its ability to bridge the gap between complex clinical workflows and the financial realities of modern medical billing, making it an essential partner for healthcare organizations aiming to improve operational efficiency.
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, Cabra VC, and YC
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 that focuses 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 young teams to achieve rapid market expansion.
What's next for Collectly?
With the successful completion of this major enterprise-level funding, Collectly is poised to scale its operations and expand its market reach. The strategic focus will likely center on deepening its integration capabilities with a broader array of EHR platforms and enhancing its proprietary interface to support larger, multi-specialty medical groups. As the company moves beyond its initial growth phase, the focus will shift toward maintaining its competitive edge in the healthcare fintech space, ensuring that its billing solutions remain at the forefront of innovation. The infusion of capital provides the necessary runway to invest in product development and talent acquisition, further solidifying Collectly's status as a leader in the patient financial engagement market.
See full Collectly company page