About Modernizing Medicine
Modernizing Medicine is a Healthcare company based in Boca Raton (United States) founded in 2010 by Michael Sherling and Daniel Cane, and was acquired by Clearlake Capital Group in March 2025. AI-driven EMR and practice management software is delivered for clinics. Modernizing Medicine has raised $329.17 million across 10 funding rounds from investors including IBM, SVB and Warburg Pincus. The company has 2,470 employees. Modernizing Medicine has completed 5 acquisitions, including Aesyntix Health, Exscribe and Klara. Modernizing Medicine was last valued at $5.3 billion in March 2025. Its chief executive, as recorded, is Daniel Cane. Its website modmed.com draws about 90 thousand monthly visits. Modernizing Medicine offers products and services including EHR, Practice Management, and Billing Services. Its focus areas include HealthTech, Healthcare IT, Provider and Hospital Information Systems. Its legal entity is MODERNIZING MEDICINE, INC. Its competitors include Practice Fusion, Flatiron Health and Greenway Health; 3 of its 3 listed competitors have raised funding.
Company details
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.
- Headquarters Boca Raton, United States
- Employees 2,470
- Founders Michael Sherling, Daniel Cane
- Stage Acquired
- SectorsHealthcare
- Email••••••••
- Phone•••• ••••
- Website modmed.com
- Social LinkedIn X Facebook Instagram YouTube
- Acquired by Clearlake Capital Group (Mar 2025)
- Legal Name Modernizing Medicine, Inc.
- Total Equity Funding$329.17M (USD)
in 10 rounds
- Latest Funding Round$231M (USD), Series F
May 2017
- InvestorsIBM
& 10 more
- Employee Count2,470
- Investments & AcquisitionsAesyntix Health
& 4 more
- Acquired byClearlake Capital Group
(Mar 2025)
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
Apps and channels of Modernizing Medicine
Modernizing Medicine publishes 2 mobile apps with over 1M+ downloads; its YouTube channel ModMed has 2.57K subscribers and 30 videos.
Videos from Modernizing Medicine
The most watched videos on Modernizing Medicine's YouTube channel, ModMed (2.57K subscribers). Click a video to play it here.
More on ModMed.
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 $329.17M
- Total Rounds 10
- Last Round Series F — $231M
- First Round $425,000
(May 2010)
- Investors Count 11
All 10 funding rounds of Modernizing Medicine with amounts and investors; the two latest post-money valuations are shown, the rest are part of the premium plan.
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| May 2017 | $231M | Series F | $1B | Warburg Pincus | – |
| Sep 2015 | $38M | Series E | – | Pentland, Sands Capital Ventures | – |
| Aug 2015 | $10M | Debt – Venture | – | – | |
| Nov 2014 | $20M | Series D | – | IBM | – |
| Aug 2013 | $14M | Series C | – | Summit Partners | – |
| Dec 2012 | Debt – Conventional | – | – | ||
| Dec 2012 | $12M | Series B | – | Pentland | – |
| Jul 2012 | $6.6M | Series A | – | – | – |
| Feb 2011 | $7.14M | Series A | – | – | – |
| May 2010 | $425,000 | Seed | – | – | – |
| Date | Valuation | Stage |
|---|---|---|
| May 2017 | $1B | •••••••• |
Last known valuation $5.3B (Mar 2025). 11 investors in total: 11 institutional.
Investors in Modernizing Medicine
Modernizing Medicine has secured backing from 11 investors, including venture fund and institutional investors. Prominent investors backing the company include IBM, SVB and Warburg Pincus.
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
Multi-stage private equity investments are pursued across diverse sectors. | 1966 | warburgpincus.com | New York, United States | |
Growth stage tech & life sciences focused VC Firm investing in Asia and the US | sandscapitalventures.com | Arlington, United States | ||
Summit Partners is recognized as a growth equity investment firm. | summitpartners.com | Boston, United States | ||
Lower and mid-market investments are managed through private equity strategies. | clearlake.com | Santa Monica, United States | ||
Active, long-term growth equity investments are provided globally. | sandscapital.com | Arlington, United States | ||
A family business focused on building positive brands. | pentlandgroup.com | London, United Kingdom | ||
Early-stage ventures are funded across sectors through venture capital. | project-a.vc | Berlin, Germany | ||
| pentland.com | ||||
Banking services are provided to innovative companies, investors, and individuals. | 1983 | svb.com | Santa Clara, United States | |
Hybrid cloud and DevOps automation are delivered to enterprises. | 1911 | ibm.com | United States |
Investor details for Modernizing Medicine
The complete investor list, round-by-round participation and investor portfolios require an active premium plan.
- Complete investor list
- Round participation
- Investor portfolios
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People of Modernizing Medicine
502 people are tracked at Modernizing Medicine (115 in leadership, 387 in team); the tracked headcount is 2,470.
| Name | Role | Group |
|---|---|---|
Michael Sherling | Co-Founder & Chief Medical & Strategy Officer | Leadership |
Daniel Cane | Co-Founder & Co-CEO | Leadership |
Joe Harpaz | Co-CEO | Leadership |
John Guiliana | Medical Director- Podiatry | Leadership |
Michelle Scheer | CFO | Leadership |
Anthony Grabenau | Chief Accounting Officer (cao) | Leadership |
Blake Smittkamp | National Sales Director | Leadership |
Sasha Cuevas | Partner Success Manager, Operational Excellence | Leadership |
Joseph Ashkouti | Chief Legal Officer | Leadership |
Chad Walker | Senior Director Of Sales - Gastroenterology | Leadership |
Jim Mullen | Senior Sales Director | Leadership |
David Peek | National Sales Director- Orthopedics-pain Management-podiatry | Leadership |
Arda Simsek | Head Of Deal Desk | Leadership |
Justin Steinman | Chief Marketing Officer | Leadership |
Natasha Patel | National Sales Director | Leadership |
Rosa Naujoks | Director Of Payroll | Leadership |
Rob Ware | SVP & General Manager of Revenue Cycle Management | Leadership |
Vasu Thiyagarajan | Vice President, Architecture & Platform | Leadership |
Denise Ceule | Chief Legal Officer | Leadership |
Jody Beaverson | Chief People Officer | Leadership |
482 more people are available in the full profile.
Complete people profiles for Modernizing Medicine
Full employee and board profiles, team structure, tenure and professional contact details require an active premium plan.
- Full employee list
- Team structure
- Board tenure
- Professional contacts
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Investments & Acquisitions by Modernizing Medicine
Modernizing Medicine has strategically engaged in corporate development activities, having acquired 5 companies. Notable acquisitions include Aesyntix Health, Exscribe and Klara.
| Company Name | Description | Domain | Location | Founded | Acquired | Amount |
|---|---|---|---|---|---|---|
Communication app for medical teams, patients, and providers is facilitated. | klara.com | Berlin, Germany | 2013 | Feb 2022 | •••• | |
EHR and practice management tools are supplied for podiatrists. | traknetsolutions.com | Southfield, United States | 2013 | Apr 2021 | •••• | |
Has developed EHR and PM solutions specific to the Orthopedic specialty. | exscribe.com | Bethlehem, United States | 2000 | Jan 2021 | •••• | |
Software solutions and services for Dermatology practices | aesyntix.com | Roseville, United States | 2008 | Dec 2014 | •••• | |
Specialty-specific EHR systems are developed for gastroenterology, cardiology, and urology. | gmed.com | Weston, United States | 1997 | •••• |
Complete acquisition details for Modernizing Medicine
Acquired stakes, deal sources and the complete acquisition history require an active premium plan.
- Acquired stakes
- Deal sources
- Complete history
- Exports
Verified entity values are shown only after access is granted.
Timeline of Modernizing Medicine
9 dated milestones of Modernizing Medicine across 15 years, from founding to its latest funding, stage changes and deals.
- Founded Modernizing Medicine is founded.
- Funding First funding round of $425K.
- Acquisition Acquires Aesyntix Health.
- Funding Latest funding round, Series F, of $231.0M.
- Milestone Reaches Unicorn status.
- Acquisition Acquires Exscribe.
- Acquisition Acquires TRAKnet.
- Acquisition Acquires Klara.
- Exit Acquired by Clearlake Capital Group.
Competitors of Modernizing Medicine
Modernizing Medicine has 3 listed competitors in our database, 3 of them funded. They include Practice Fusion, Flatiron Health and Greenway Health.
| Company Name | Domain | Founded | HQ Location | Total funding | Employees | Description |
|---|---|---|---|---|---|---|
| practicefusion.com | 2005 | San Francisco, United States | $254.9M | 212 | Cloud-based EHR system is provided for physicians' practices. | |
| flatiron.com | 2012 | New York, United States | $314.4M | 1,067 | Cloud-based oncology management tools are provided for cancer care providers. | |
| greenwayhealth.com | 1998 | Carrollton, United States | $47.3M | Clinical and financial solutions are delivered to ambulatory providers. |
Detailed competitors of Modernizing Medicine
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- Full competitor set
- Operating metrics
- Benchmarks
- Competitive positioning
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Web traffic of Modernizing Medicine
The website of Modernizing Medicine (modmed.com) receives about 90.2K visits a month.
- Monthly visits90.2K
▲ 52.9% vs previous month
Websites whose visitors overlap most with Modernizing Medicine. Affinity shows how closely the audiences match.
| Website | Domain | Audience affinity | Monthly visits | Global rank | Profile |
|---|---|---|---|---|---|
telehealthinfo.us | telehealthinfo.us | 100% | #575,931 | – | |
| ehrinpractice.com | 96% | #722,449 | View details | ||
modernizingmedicine.zendesk.com | modernizingmedicine.zendesk.com | 90% | – | ||
doctorsmanagement.com | doctorsmanagement.com | 90% | #1,875,958 | – | |
| nextech.com | 88% | 547.4K | #68,893 | View details | |
| •••••••••• | ••••••.com | ••% | •.•M | #••••• | – |
| •••••••••• | ••••••.com | ••% | •.•M | #••••• | – |
| •••••••••• | ••••••.com | ••% | •.•M | #••••• | – |
All 40 similar websites and full traffic analytics for Modernizing Medicine
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- 40 similar websites
- Audience overlap
- Engagement analytics
- Traffic by brand
Verified entity values are shown only after access is granted.
Top companies in Clinical IT & Data Platforms
3 companies that operate in the same segment as Modernizing Medicine (Clinical IT & Data Platforms) in United States, ranked by their profile score on The Company Check.
| Company | Description | Founded | Location | Total funding | Revenue | Employees |
|---|---|---|---|---|---|---|
Employee health benefits are facilitated via a cloud-based platform. | 2007 | Plymouth Meeting, Pennsylvania, United States | USD 228.3 M | |||
Healthcare appointments are booked online via Zocdoc's platform. | 2007 | New York, New York, United States | USD 425.97 M | USD 4.66 M | 1,365 | |
Virtual physical therapy and digital pain care solutions are provided. | 2015 | San Francisco, California, United States | USD 854.44 M | 1,746 |
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Related news about Modernizing Medicine
Complete news archive for Modernizing Medicine
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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 CEO of Modernizing Medicine, as recorded in our data. 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 Seed of $425K, raised on May 2010.
Modernizing Medicine has 2,470 employees.
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 Flatiron Health, Practice Fusion and Greenway Health.
Modernizing Medicine offers EHR, Practice Management, and Billing Services.
Modernizing Medicine has made 5 acquisitions, including Aesyntix Health, Exscribe, and Klara.
Modernizing Medicine has 11 investors. Key investors include IBM, SVB, Warburg Pincus, Pentland, and Sands Capital Ventures.
The valuation of Modernizing Medicine is $5.3B as of Mar 2025.
Modernizing Medicine operates through Modernizing Medicine, Inc..