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
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Sectors
Healthcare
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Email
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Phone
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Website
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Social
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- Legal Name Modernizing Medicine, Inc.
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Annual Revenue
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Net Profit
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EBITDA
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Total Equity Funding
$329.17 M (USD)
in 10 rounds
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Latest Funding Round
$231 M (USD), Series F
May 10, 2017
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Investors
IBM
& 6 more
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Employee Count
Employee Count
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Investments & Acquisitions
Aesyntix Health
& 3 more
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Acquired by
Clearlake Capital Group
(Mar 03, 2025)
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Products & Services of Modernizing Medicine
Modernizing Medicine offers a comprehensive portfolio of products and services, including EHR, Practice Management, and Billing Services.
Cloud-based system for managing patient medical data
Tools for scheduling and administrative tasks
Solutions for processing medical billing
People of Modernizing Medicine
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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
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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
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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 |
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| Sep, 2015 | Amount | Series E - Modernizing Medicine | Valuation | Pentland , Sands Capital Ventures |
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| Aug, 2015 | Amount | Debt – Venture - Modernizing Medicine | 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.
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
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Multi-stage private equity investments are pursued across diverse sectors.
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Founded Year | Domain | Location | |
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Growth stage tech & life sciences focused VC Firm investing in Asia and the US
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Founded Year | Domain | Location | |
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Summit Partners is recognized as a growth equity investment firm.
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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.
| Company Name | Description | Domain | Location | Founded Year | Amount |
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Communication app for medical teams, patients, and providers is facilitated.
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2013 | ||||
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EHR and practice management tools are supplied for podiatrists.
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2013 | ||||
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Software solutions and services for Dermatology practices
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2008 |
Financial Statements - Modernizing Medicine
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.
| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
Cloud-based EHR system is provided for physicians' practices.
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| domain | founded_year | HQ Location |
Cloud-based oncology management tools are provided for cancer care providers.
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| domain | founded_year | HQ Location |
Clinical and financial solutions are delivered to ambulatory providers.
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| domain | founded_year | HQ Location |
Open-source healthcare software is provided by Medsphere Systems.
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| domain | founded_year | HQ Location |
SaaS-based practice management solution is provided for healthcare professionals.
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Frequently Asked Questions about Modernizing Medicine
Modernizing Medicine was founded in 2010.
Modernizing Medicine is headquartered in Boca Raton, United States. It is registered at Boca Raton, Florida, United States.
Daniel Cane is the current CEO of Modernizing Medicine. They have also founded this 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.
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.
Modernizing Medicine's top competitors include Eka Care, Flatiron Health and Practice Fusion.
Modernizing Medicine offers EHR, Practice Management, and Billing Services.
Modernizing Medicine has made 4 acquisitions, including Aesyntix Health, Exscribe, and Klara.
Modernizing Medicine has 7 investors. Key investors include IBM, SVB, Warburg Pincus, Pentland, and Sands Capital Ventures.
The valuation of Modernizing Medicine is $1B as of May 2017.