About Modernizing Medicine
Modernizing Medicine is a company based in Boca Raton (United States) founded in 2010 by Michael Sherling and Daniel Cane was acquired by Clearlake Capital Group in March 2025.. Modernizing Medicine has raised $329.17 million across 10 funding rounds from investors including IBM, SVB and Warburg Pincus. Modernizing Medicine has completed 4 acquisitions, including Aesyntix Health, Exscribe and Klara. Modernizing Medicine offers products and services including EHR, Practice Management, and Billing Services. Modernizing Medicine operates in a competitive market with competitors including Practice Fusion, Flatiron Health, Greenway Health, Medsphere Systems and Hint Health, among others.
- Headquarter Boca Raton, United States
- Founders Michael Sherling, Daniel Cane
- Stage Unicorn
-
Sectors
Healthcare
-
Email
***********
-
Phone
*********
-
Website
*********
-
Social
*********
- Legal Name Modernizing Medicine, Inc.
-
Annual Revenue
-
Net Profit
-
EBITDA
-
Total Equity Funding
$329.17 M (USD)
in 10 rounds
-
Latest Funding Round
$231 M (USD), Series F
May 10, 2017
-
Investors
IBM
& 6 more
-
Employee Count
Employee Count
-
Investments & Acquisitions
Aesyntix Health
& 3 more
-
Acquired by
Clearlake Capital Group
(Mar 03, 2025)
Unlock complete access to The Company Check
Get unrestricted viewing across everything we track — from companies and brands to investors, funding rounds, acquisitions, financials, and more.
- Unlimited viewing on all profiles Companies, investors, financials, funding, acquisitions & directors
- Full access to every database India & global coverage, advanced filters and rich profile details
- Always-on access from your team account Single premium plan for everything you see on the portal
Products & Services of Modernizing Medicine
Modernizing Medicine offers a comprehensive portfolio of products and services, including EHR, Practice Management, and Billing 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.
Cloud-based system for managing patient medical data
Tools for scheduling and administrative tasks
Solutions for processing medical billing
Unlock access to complete
Software Development Team
117 people
Sales and Marketing
95 people
Leadership Team
55 people
Senior Team
47 people
Operations Team
25 people
Product Management Team
24 people
Customer Team
23 people
Finance and Accounting
14 people
Unlock access to complete
Funding Insights of Modernizing Medicine
Modernizing Medicine has successfully raised a total of $329.17M across 10 strategic funding rounds. The most recent funding activity was a Series F round of $231 million completed in May 2017. 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 10
- Last Round Series F — $231.0M
-
First Round
First Round
(19 May 2010)
- Investors Count 6
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| May, 2017 | Amount | Series F - Modernizing Medicine | Valuation | Warburg Pincus |
|
| Sep, 2015 | Amount | Series E - Modernizing Medicine | Valuation | Pentland , Sands Capital Ventures |
|
| Aug, 2015 | Amount | Debt – Venture - Modernizing Medicine | Valuation |
investors |
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
|
| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
|
| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
|
| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Investors in Modernizing Medicine
Modernizing Medicine has secured backing from 7 investors, including venture fund and institutional investors. Prominent investors backing the company include IBM, SVB and Warburg Pincus. 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 |
|---|---|---|---|---|
|
Multi-stage private equity investments are pursued across diverse sectors.
|
Founded Year | Domain | Location | |
|
Growth stage tech & life sciences focused VC Firm investing in Asia and the US
|
Founded Year | Domain | Location | |
|
Summit Partners is recognized as a growth equity investment firm.
|
Founded Year | Domain | Location |
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
|
Single family office of Amitabh Bachchan, founder of Amitabh Bachchan Corporation or AB CORP
|
Founded Year | Domain | Location | |
|
Startup ecosystems are ignited through strategic investments by Signite Partners.
|
Founded Year | Domain | Location | |
|
Venture capital is directed toward companies in multiple sectors.
|
Founded Year | Domain | Location | |
|
Venture capital is invested in cybersecurity, fintech, and AI startups.
|
Founded Year | Domain | Location |
Investments & Acquisitions by Modernizing Medicine
Modernizing Medicine has strategically engaged in corporate development activities, having acquired 4 companies. Notable acquisitions include Aesyntix Health, Exscribe and Klara. These strategic investments and acquisitions demonstrate the company's commitment to growth through portfolio expansion, market consolidation, technology integration, and strategic partnerships that enhance competitive positioning and drive long-term value creation.
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
|
Bionic investment advisor platform
|
2016 | ||||
|
Fine Asian gourmet food is offered by an internet-first restaurant.
|
2016 | ||||
|
Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
|
2014 | ||||
|
Fine Asian gourmet food is offered by an internet-first restaurant.
|
2016 |
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
|
Communication app for medical teams, patients, and providers is facilitated.
|
2013 | ||||
|
EHR and practice management tools are supplied for podiatrists.
|
2013 | ||||
|
Software solutions and services for Dermatology practices
|
2008 |
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
|
OVO is recognized as a smart digital payment application.
|
2017 | ||||
|
Bionic investment advisor platform
|
2016 | ||||
|
Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
|
2014 | ||||
|
Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
|
2014 |
Financial Statements - Modernizing Medicine
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
|
| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
|
| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
|
| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Modernizing Medicine Comparisons
Competitors of Modernizing Medicine
Modernizing Medicine 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 Practice Fusion, Flatiron Health, Greenway Health, Medsphere Systems and Hint Health, 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 |
Cloud-based EHR system is provided for physicians' practices.
|
|
| domain | founded_year | HQ Location |
Cloud-based oncology management tools are provided for cancer care providers.
|
|
| domain | founded_year | HQ Location |
Clinical and financial solutions are delivered to ambulatory providers.
|
|
| domain | founded_year | HQ Location |
Open-source healthcare software is provided by Medsphere Systems.
|
|
| domain | founded_year | HQ Location |
SaaS-based practice management solution is provided for healthcare professionals.
|
| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
Multiple services are booked via an app-based platform.
|
|
| domain | founded_year | HQ Location |
On-demand services are booked through an app-based platform.
|
|
| domain | founded_year | HQ Location |
App based platform offering on demand delivery and ride-hailing services
|
|
| domain | founded_year | HQ Location |
Operates an on-demand hyperlocal delivery app for food and groceries.
|
Latest news on Modernizing Medicine
Frequently Asked Questions about Modernizing Medicine
When was Modernizing Medicine founded?
Modernizing Medicine was founded in 2010.
Where is Modernizing Medicine located?
Modernizing Medicine is headquartered in Boca Raton, United States. It is registered at Boca Raton, Florida, United States.
Who is the current CEO of Modernizing Medicine?
Daniel Cane is the current CEO of Modernizing Medicine. They have also founded this company.
Is Modernizing Medicine a funded company?
Modernizing Medicine is a funded company, having raised a total of $329.17M across 10 funding rounds to date. The company's 1st funding round was a Debt – Venture of $10M, raised on May 19, 2010.
What does Modernizing Medicine do?
Modernizing Medicine was established in 2010 in Boca Raton, United States, within the health technology sector. Cloud-based electronic medical records are offered via the EMA platform, tailored to medical specialties. Patient data is analyzed using deep learning and machine learning techniques. Telemedicine capabilities and value-based care options are provided for multiple conditions, alongside practice management tools to support clinic workflows.
Who are the top competitors of Modernizing Medicine?
Modernizing Medicine's top competitors include Eka Care, Flatiron Health and Practice Fusion.
What products or services does Modernizing Medicine offer?
Modernizing Medicine offers EHR, Practice Management, and Billing Services.
How many acquisitions has Modernizing Medicine made?
Modernizing Medicine has made 4 acquisitions, including Aesyntix Health, Exscribe, and Klara.
Who are Modernizing Medicine's investors?
Modernizing Medicine has 7 investors. Key investors include IBM, SVB, Warburg Pincus, Pentland, and Sands Capital Ventures.
What is Modernizing Medicine's valuation?
The valuation of Modernizing Medicine is $1B as of May 2017.
Book a demo & talk to our team
Share a few details and we’ll reach out to schedule a session.