Collectly, a Santa Monica, CA-based provider of patient financial engagement software for medical groups, raised $29M in Series A funding.
The round, which brought the total amount to $34.1M, was led by Sapphire Ventures, with participation from YC, Wayfinder Ventures, Burst Capital, Cabra VC, and Davidovs VC.
The company intends to use the funds to accelerate the enhancement of its patient financial engagement software and its market expansion.
Launched in 2017 by Levon Brutyan and Max Mizotin, Collectly is a patient financial engagement software. By integrating proprietary interfaces with EHRs and PMs, it optimizes patient billing operations, helping medical groups to increase cash flow, reduce DSO, and improve patient retention.
The company has engaged over 300,000 patients daily.
