What is Practice Better?
Practice Better operates as a premier all-in-one practice management software solution, specifically engineered to streamline the administrative and clinical workflows of health and wellness practitioners. By integrating scheduling, charting, billing, and client engagement into a unified digital ecosystem, the platform addresses the complex operational needs of modern wellness businesses. The company has established a formidable market position, characterized by high organic growth driven by strong community referrals and a reputation for reliability. Its ability to process significant payment volumes globally positions it as a mission-critical utility for its user base, effectively bridging the gap between clinical care and business management.
How much funding has Practice Better raised?
Practice Better has raised a total of $40M across 2 funding rounds:
Private Equity
$27M
Private Equity
$13M
Private Equity (2023): $27M with participation from Five Elms Capital
Private Equity (2024): $13M led by CIBC INNOVATION BANKING
Key Investors in Practice Better
Five Elms Capital
Five Elms Capital is a leading software investment firm focused on partnering with passionate B2B software founders, providing flexible capital solutions to accelerate growth and build category leaders.
CIBC INNOVATION BANKING
CIBC Innovation Banking is a specialized financial institution providing credit, lending, and investment services tailored to the unique needs of high-growth technology companies.
What's next for Practice Better?
With this major enterprise-level funding, Practice Better is strategically positioned to transition into its next phase of maturity. The focus will likely shift toward aggressive product innovation, potentially incorporating advanced analytics or expanded integration capabilities to further solidify its dominance in the health-tech vertical. Furthermore, the capital provides the necessary runway to scale customer support and sales operations, ensuring that the company can maintain its high service standards while onboarding a larger global clientele. As the firm continues to capitalize on its strong brand equity, the emphasis will remain on sustainable growth and the continuous optimization of its B2B software architecture to meet the evolving demands of the global wellness industry.
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