About InstaMed
InstaMed is a company based in Philadelphia (United States) founded in 2004 was acquired by JPMorgan Chase in May 2019. It operates as a SaaS (Software-as-a-Service) and Managed Services. InstaMed has raised $123.24 million across 16 funding rounds from investors including US Bank, JPMorgan Chase and Carrick Capital Partners. The company has 275 employees as of December 31, 2022. InstaMed offers products and services including Healthcare Payment Solutions, Patient Engagement Tools, and System Integration Services. InstaMed operates in a competitive market with competitors including Greenphire, Cedar, Zelis Healthcare, CiOX Health and PayZen, among others.
- Headquarter Philadelphia, United States
- Employees 275 as on 31 Dec, 2022
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Sectors
HealthcareFinancial Services
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Phone
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Website
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Social
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- Legal Name Instamed, A Wholly Owned Subsidiary Of Jpmorgan Chase Bank, N.A.
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Annual Revenue
Not available
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Net Profit
Not available
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EBITDA
Not available
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Total Equity Funding
$123.24 M (USD)
in 16 rounds
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Latest Funding Round
$50 M (USD), Series E
Sep 26, 2016
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Investors
US Bank
& 7 more
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Employee Count
275
as on Dec 31, 2022
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Acquired by
JPMorgan Chase
(May 17, 2019)
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Products & Services of InstaMed
InstaMed offers a comprehensive portfolio of products and services, including Healthcare Payment Solutions, Patient Engagement Tools, and System Integration Services.
Healthcare payments are streamlined with secure digital solutions.
Patient engagement is enhanced through digital billing options.
Integration with EHR/EMR systems is provided for efficiency.
People of InstaMed
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Software Development Team
27 people
Sales and Marketing
26 people
Leadership Team
19 people
Product Management Team
8 people
Operations Team
5 people
Customer Team
5 people
Client Team
5 people
Contracting Team
5 people
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Funding Insights of InstaMed
InstaMed has successfully raised a total of $123.24M across 16 strategic funding rounds. The most recent funding activity was a Series E round of $50 million completed in September 2016. This substantial capital infusion reflects strong investor confidence in the company's business model, growth potential, and market opportunities. The funding enables strategic expansion, product development, market penetration, and operational scaling to drive long-term value creation and competitive advantage.
Investors in InstaMed
InstaMed has secured backing from 8 investors, including venture fund and institutional investors. Prominent investors backing the company include US Bank, JPMorgan Chase and Carrick Capital Partners.
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Early-stage venture capital investments are focused on US companies.
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Investor details for InstaMed
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Investments & Acquisitions by InstaMed
Investment portfolio details for InstaMed
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Financial Statements - InstaMed
Detailed financials for InstaMed
Historical revenue, profit, statement rows, ratios, and trend charts require an active premium plan.
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- Profit trends
- Statement rows
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Instamed Comparisons
Peer comparison for InstaMed
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Competitors of InstaMed
InstaMed operates in a dynamic and competitive business environment, facing competition from various established players and emerging companies in the market. The competitive landscape includes prominent companies such as Greenphire, Cedar, Zelis Healthcare, CiOX Health and PayZen, among others.
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Clinical payment technology for patient transactions in research is provided.
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Cloud-based payment solutions are provided for healthcare billing and analytics.
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Digital solutions to modernize the healthcare financial experience for payers, providers, and members
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Suite of health information management solutions for healthcare providers and payers
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AI medical billing software for healthcare professionals and organizations
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Healthcare benefits are administered via tax-advantaged account platforms.
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Detailed competitors of InstaMed
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Latest news on Instamed
Complete news archive for InstaMed
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Frequently Asked Questions about InstaMed
InstaMed was founded in 2004 and raised its 1st funding round 2 years after it was founded.
InstaMed is headquartered in Philadelphia, United States. It is registered at Philadelphia, Pennsylvania, United States.
InstaMed is a funded company, having raised a total of $123.24M across 16 funding rounds to date.
As of Dec 31, 2022, the latest employee count at InstaMed is 275.
Healthcare payment processes are optimized by InstaMed through secure, cloud-based technology. Solutions are offered for providers, payers, and patients to enhance financial engagement. Digital billing and contactless payment options are integrated into existing workflows. The healthcare sector is primarily served, focusing on hospitals, clinics, and health plans. Revenue cycles are accelerated, and consumer satisfaction is improved with HIPAA-compliant tools. Costs are reduced while payment collection is increased across various healthcare organizations.
InstaMed's top competitors include Greenphire, Cedar and PayZen.
InstaMed offers Healthcare Payment Solutions, Patient Engagement Tools, and System Integration Services.
InstaMed has 8 investors. Key investors include US Bank, JPMorgan Chase, Carrick Capital Partners, NJTC Venture Fund, and Midas Capital.