What is Phreesia?
Founded in 2005 and based in Wilmington, Delaware, Phreesia operates as a technology company dedicated to optimizing patient intake processes for medical groups, health systems, and payers. By leveraging its platform, Phreesia empowers healthcare providers to achieve their strategic objectives, enhancing operational efficiency and patient engagement. The company's focus on integrating technology into the critical patient intake workflow positions it as a key innovator in the health tech industry.
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 Long River Ventures, Village Ventures, HLM Venture Partners, and Polaris Partners
Series C (2009): $11.6M supported by Sandbox Industries, Long River Ventures, HLM Venture Partners, Polaris Partners, and BlueCross BlueShield Venture Partners
Series D (2010): $20M featuring HLM Venture Partners, Sandbox Industries, Ascension Ventures, Vantage Point Ventures, BlueCross BlueShield Venture Partners, Long River Ventures, and Polaris Partners
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
Sandbox Industries
Sandbox Industries is a venture capital firm that operates at the intersection of entrepreneurial thinking and large corporate enterprises, investing in startups that address strategic priorities. They are known for their involvement in consumer technology, food, agriculture, and health care.
Long River Ventures
Long River Ventures is a venture capital firm that operates within the Venture Capital & Private Equity industry, focusing on strategic investments to foster growth in its portfolio companies.
HLM Venture Partners
HLM Venture Partners is a specialized healthcare investment firm that partners with innovative founders, providing strategic guidance, deep industry expertise, and growth capital to build enduring companies in healthcare technology and services.
What's next for Phreesia?
The substantial enterprise-level funding Phreesia has attracted indicates a mature stage of growth, likely focused on scaling operations, expanding market reach, and further developing its technological capabilities. The company is well-positioned to continue its strategic initiatives, potentially exploring new service offerings or market segments within the healthcare ecosystem. Future investments will likely concentrate on enhancing its data analytics, patient experience features, and integration with broader healthcare IT infrastructures, solidifying its role as a leader in patient intake management.
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