InstaMed, a Philadelphia-based healthcare payment network provider connecting providers, payers and consumers on one platform has raised $50 million in funding led by Carrick Capital Partners. The company plans to utilize the funding to accelerate the growth of the InstaMed Network, accelerate go-to-market strategy and drive further innovation in healthcare payments technology.
As part of the latest round of funding, Jim Madden, Co-Founder and Managing Director of Carrick Capital Partners will join the InstaMed board of directors, and Chris Wenner, a Vice President at Carrick Capital Partners, will become an observer to the board of directors.
Founded in 2004, InstaMed enable providers and payers to manage all of their healthcare payments on a single platform, integrated into any healthcare IT system. As consumer healthcare payment responsibility continues to soar, InstaMed’s innovative solutions offer ways for providers and payers to address the demands of consumerism while maintaining the highest levels of security and compliance.
“We are very excited to be working with InstaMed President and CEO Bill Marvin and his team, who are revolutionizing healthcare payments by simplifying the experience for providers, payers and consumers,” said Jim Madden, Co-Founder and Managing Director of Carrick Capital Partners. “We identified InstaMed as part of our thematic sourcing efforts in healthcare technology and recognized the value of their unique single-technology platform, network effect business model and relentless focus on security and compliance,” he added.