WebPT, a web-based provider of electronic medical record (EMR) for physical therapists, just landed a large investment deal with capital firm Battery Ventures.
The undisclosed amount will be used to grow WebPT’s customer and user base which has so far been adopted by more than 35,000 therapists and 6,000 clinics across the U.S. and Canada.
President and CTO, Brad Jannenga comments on the raise, “We’ve had a lot of success in our market and while we could continue to grow the company organically without outside investment, we see an opportunity to build on the foundation of success we’ve created and take our business to a whole new level.”
Finding the right partner for capital took about two years to find, Jannenga shared, “…we couldn’t be more happy to have the backing of Battery Ventures. It’s a validation of what we have accomplished and shows that Phoenix startups can and do attract smart venture capital.”
Founded in 2008 by husband and wife team Brad and Heidi Jannenga. WebPT brings the tedium of managing medical records, together with the technology necessary to create an easy and affordable, paperless platform to access these documents. The service also provides physical therapists, occupational therapists and speech-language pathologists with business reports, interactive scheduling and billing.
In 2013, Inc. Magazine named recognized WebPT as one of the nation’s 500 fastest growing companies. In 2010, they received a $1 million round of funding led by Canal Partners.
Earlier this year, WebPT was chosen as a finalist in the tech category for the Industry Leaders of Arizona Awards, recognizes the contributions and impact of Arizona Based companies.
What is next for WebPT? “The goal is leveraging technology to accelerate innovation in medicine and enable better healthcare outcomes at lower costs,” Jannenga said. “That’s where electronic medical records (EMR) come into play, and that is where we can continue to make an impact in the medical field.”
Battery Ventures has backed companies such as MetroPCS and Groupon. They have 30 years of experience, have raised $4.5 billion and investing a $900 million fund in companies. They have two offices in the U.S and one in Israel.
WebPT in the community: WebPT hosts a quarterly meetup, Tech Talks, designed for software engineers to connect and talk trends in coding. Read our past coverage of Tech Talks here.
For AZ Tech Beat’s past coverage of WebPT click here.
