CipherHealth, a NYC-based patient communication, engagement and care coordination software company today announced that it has received a significant strategic growth investment from JMI Equity, a growth equity firm focused on investing in leading software companies. Since 2009, CipherHealth’s integrated solutions have enabled providers across the care continuum to improve patient communication and care coordination with the latest technologies. With each technology, the company delivers highly configurable and easy-to-use solutions that provide a tailored experience for both staff members and patients. The startup plans to use the funding to expand its patient engagement platform across the care continuum– from in and out of the hospital and with care physicians. The total amount of funding raised is $37.5M, where JMI is a significant part of that.
CipherHealth helps healthcare organizations achieve Quadruple Aim goals through meaningful patient engagement and care team coordination. As healthcare transitions to value-based reimbursement models, effective communication with patients becomes increasingly important to optimize outcomes and improve operational efficiencies across the care continuum. Health systems that partner with CipherHealth in quality of care initiatives have seen a rate of improvement in patient satisfaction (HCAHPS) that is twice the national average.
“We’re excited to partner with JMI and leverage their expertise and industry network to continue to grow and expand,” said Randy Cheung, Co-Founder and Chief Executive Officer of CipherHealth. “JMI has a successful track record of supporting high-growth SaaS companies, and we are thrilled that they are joining us on our journey as we accelerate our growth and deliver the most comprehensive and integrated engagement platform available in healthcare.”