What You Should Know:
- DexCare, Inc., a Seattle-based patient demand and care access platform raises $75M in Series C funding led by ICONIQ Growth with participation from existing partners Transformation Capital, Kaiser Permanente Ventures, and others.
- The funding will advance DexCare’s platform, which extends limited health-system capacity to serve patients faster and to precisely manage the supply and demand of digital-care access.
- The new funding brings the total raised to $146M, including two oversubscribed rounds closed in less than two years.
Intelligent-Decisioning Technology for Patient Demand and Organizational Capacity
Spun out of Providence in 2021, DexCare is a care-access platform to manage the logistics of digital-care delivery. The platform enables healthcare systems to forecast and predict demand and manage how and where care is merchandized to consumers – throughout the digital ecosystem. By simplifying large, complex, and legacy datasets, DexCare resolves workforce constraints, and provides the levers to precisely coordinate scheduling, across services and modalities, to optimize capacity and operational costs.
Since its spin-out from Providence in 2021, DexCare has remained on a rapid growth trajectory, developing partnerships with leading U.S. health systems, and reaching more than 57 million patients across all 50 states. During this challenging time – a period of intense financial pressure and resource strain – DexCare proved to be a driver of growth, boosting new-patient bookings 30 percent, diverting 350,000 emergency-room hours and increased downstream revenue eightfold.
“We’re just emerging from an unpredictable moment in history that cast a spotlight on a strained U.S. healthcare system,” said Derek Streat, CEO of DexCare. “The trauma caused on the frontlines, as health systems rushed to care for their communities, stressed an already high level of provider and nurse burnout. The pandemic taught us that consumers want convenience and choice, and that health systems need controls to manage the supply of care – DexCare delivers both. Healthcare will forever be a human-and-labor intensive industry. But it’s people who work tirelessly when we need them most, and people who cure the incurable. DexCare is mission-critical infrastructure that protects and best utilizes our most precious resource – the limited physician and nurse work hours,” added Streat.
