What is Phreesia?
Headquartered in Wilmington, Delaware, Phreesia operates as a pivotal technology provider in the digital health sector. The company specializes in automating patient intake, a critical touchpoint that bridges the gap between medical groups, health systems, and payers. By digitizing administrative workflows, Phreesia enables healthcare providers to improve operational efficiency, enhance patient engagement, and achieve broader strategic objectives. Its platform serves as a foundational layer for modernizing the patient experience, positioning the company as an essential partner for large-scale healthcare organizations seeking to streamline front-office operations and improve financial outcomes.
How much funding has Phreesia raised?
Phreesia has raised a total of $653.6M across 9 funding rounds:
Series B
$10.3M
Series C
$11.6M
Series D
$20M
Corporate Investment
$30M
Stock Offering
$140.6M
Debt
$5M
Stock Offering
$174.4M
Stock Offering
$258.8M
Series B (2007): $10.3M led by HLM Venture Partners, Long River Ventures, Polaris Partners, and Village Ventures
Series C (2009): $11.6M supported by BlueCross BlueShield Venture Partners, Sandbox Industries, HLM Venture Partners, Long River Ventures, and Polaris Partners
Series D (2010): $20M featuring Sandbox Industries, HLM Venture Partners, BlueCross BlueShield Venture Partners, Vantage Point Ventures, Polaris Partners, Ascension Ventures, and Long River Ventures
Corporate Investment (2014): $30M backed by LLR
Stock Issuance/Offering (2019): $140.6M with participation from Undisclosed
Debt (2020): $5M led by PPP
Stock Issuance/Offering (2020): $174.4M, investors not publicly disclosed
Stock Issuance/Offering (2021): $258.8M, investors not publicly disclosed
Key Investors in Phreesia
Polaris Partners
A venture capital firm specializing in backing transformational companies in the biotech and healthcare sectors, providing coaching and resources for long-term growth.
HLM Venture Partners
A specialized healthcare investment firm that partners with innovative founders to build enduring companies in healthcare technology and services through strategic guidance.
Long River Ventures
A venture capital and private equity firm based in Boston that focuses on supporting emerging companies with growth capital and operational expertise.
What's next for Phreesia?
With the support of its latest capital injection, Phreesia is well-positioned to accelerate its product development and expand its footprint within the healthcare ecosystem. The company's strategic focus remains on deepening its integration with health systems and payers, ensuring that its patient intake solutions remain at the forefront of industry standards. As the healthcare sector continues to prioritize digital transformation, Phreesia's ability to secure major strategic investment provides the necessary runway to scale its platform, explore new market segments, and maintain its competitive edge in the evolving landscape of healthcare technology.
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