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
*********
- Legal Name Instamed, A Wholly Owned Subsidiary Of Jpmorgan Chase Bank, N.A.
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Annual Revenue
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Net Profit
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EBITDA
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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. The company's diverse product and service offerings are designed to meet the evolving needs of its customers, address market demands, and provide comprehensive solutions that drive value creation and customer satisfaction across various segments and use cases.
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.
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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.
- Total Funding Total Funding
- Total Rounds 16
- Last Round Series E — $50.0M
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First Round
First Round
(01 Feb 2006)
- Investors Count 7
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Sep, 2016 | Amount | Series E - InstaMed | Valuation | Carrick Capital Partners |
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| Dec, 2014 | Amount | Series D - InstaMed | Valuation | NJTC Venture Fund , Midas Capital |
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| Aug, 2013 | Amount | Series C - InstaMed | Valuation |
investors |
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| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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. This diverse investor base provides strategic capital, industry expertise, and valuable network connections that support the company's growth initiatives, market expansion, and long-term value creation.
| Investor | Description | Founded Year | Domain | Location |
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PE firm invests in the US
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Founded Year | Domain | Location | |
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Early-stage venture capital investments are focused on US companies.
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Founded Year | Domain | Location | |
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Founded Year | Domain | Location |
| Investor | Description | Founded Year | Domain | Location |
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Single family office of Amitabh Bachchan, founder of Amitabh Bachchan Corporation or AB CORP
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Founded Year | Domain | Location | |
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Startup ecosystems are ignited through strategic investments by Signite Partners.
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Founded Year | Domain | Location | |
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Venture capital is directed toward companies in multiple sectors.
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Founded Year | Domain | Location | |
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Venture capital is invested in cybersecurity, fintech, and AI startups.
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Founded Year | Domain | Location |
Investments & Acquisitions by InstaMed
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
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Bionic investment advisor platform
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2016 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 |
Financial Statements - InstaMed
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Instamed Comparisons
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. This competitive environment drives innovation, market differentiation, and strategic positioning as companies strive to capture market share and deliver value to their customers. Understanding the competitive dynamics is crucial for assessing market positioning, identifying growth opportunities, and navigating the challenges inherent in a competitive marketplace.
| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
Clinical payment technology for patient transactions in research is provided.
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| domain | founded_year | HQ Location |
Cloud-based payment solutions are provided for healthcare billing and analytics.
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| domain | founded_year | HQ Location |
Digital solutions to modernize the healthcare financial experience for payers, providers, and members
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| domain | founded_year | HQ Location |
Suite of health information management solutions for healthcare providers and payers
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| domain | founded_year | HQ Location |
AI medical billing software for healthcare professionals and organizations
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| domain | founded_year | HQ Location |
Healthcare benefits are administered via tax-advantaged account platforms.
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| Company Name | Domain | Founded year | HQ Location | Description |
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| domain | founded_year | HQ Location |
Multiple services are booked via an app-based platform.
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| domain | founded_year | HQ Location |
On-demand services are booked through an app-based platform.
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| domain | founded_year | HQ Location |
App based platform offering on demand delivery and ride-hailing services
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| domain | founded_year | HQ Location |
Operates an on-demand hyperlocal delivery app for food and groceries.
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Latest news on Instamed
Frequently Asked Questions about InstaMed
When was InstaMed founded?
InstaMed was founded in 2004 and raised its 1st funding round 2 years after it was founded.
Where is InstaMed located?
InstaMed is headquartered in Philadelphia, United States. It is registered at Philadelphia, Pennsylvania, United States.
Is InstaMed a funded company?
InstaMed is a funded company, having raised a total of $123.24M across 16 funding rounds to date. The company's 1st funding round was a Series C of $5.65M, raised on Feb 01, 2006.
How many employees does InstaMed have?
As of Dec 31, 2022, the latest employee count at InstaMed is 275.
What does InstaMed do?
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.
Who are the top competitors of InstaMed?
InstaMed's top competitors include Greenphire, Cedar and PayZen.
What products or services does InstaMed offer?
InstaMed offers Healthcare Payment Solutions, Patient Engagement Tools, and System Integration Services.
Who are InstaMed's investors?
InstaMed has 8 investors. Key investors include US Bank, JPMorgan Chase, Carrick Capital Partners, NJTC Venture Fund, and Midas Capital.
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