About PatientPay
PatientPay is a company based in Durham (United States) founded in 2008 by Thomas Furr.. PatientPay has raised $30.83 million across 6 funding rounds from investors including Esping Family Foundation and Mosaik Partners. PatientPay offers products and services including PatientPay Solution and RCM Technology. PatientPay operates in a competitive market with competitors including Greenphire, Cedar, Zelis Healthcare, PayZen and Alegeus, among others.
- Headquarter Durham, United States
- Founders Thomas Furr
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Sectors
HealthcareFinancial Services
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Phone
*********
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Website
*********
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Social
*********
- Legal Name Patientpay, Llc
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Annual Revenue
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Net Profit
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EBITDA
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Total Equity Funding
$30.83 M (USD)
in 6 rounds
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Latest Funding Round
$12.17 M (USD), Series C
Oct 12, 2021
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Investors
Esping Family Foundation
& 1 more
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Employee Count
Employee Count
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Products & Services of PatientPay
PatientPay offers a comprehensive portfolio of products and services, including PatientPay Solution and RCM Technology. 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.
Secure platform for managing healthcare patient payments and revenue cycles
Tools for efficient billing, communication, and payment processing in healthcare
Unlock access to complete
Funding Insights of PatientPay
PatientPay has successfully raised a total of $30.83M across 6 strategic funding rounds. The most recent funding activity was a Series C round of $12.17 million completed in October 2021. 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 6
- Last Round Series C — $12.2M
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First Round
First Round
(30 Jul 2010)
- Investors Count 2
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Oct, 2021 | Amount | Series C - PatientPay | Valuation |
investors |
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| Mar, 2020 | Amount | Series B - PatientPay | Valuation | Mosaik Partners |
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| Dec, 2017 | Amount | Series A - PatientPay | Valuation |
investors |
| 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 PatientPay
PatientPay has secured backing from 2 investors, including venture fund investors. Prominent investors backing the company include Esping Family Foundation and Mosaik 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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Grants are provided by Esping Family Foundation for programs.
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Founded Year | Domain | Location | |
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Capital is invested in enterprise financial technology businesses.
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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 PatientPay
| 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 - PatientPay
| 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 |
Patientpay Comparisons
Competitors of PatientPay
PatientPay 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, PayZen and Alegeus, 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 |
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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| domain | founded_year | HQ Location |
Revenue cycle management platform for healthcare centers is offered.
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| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| 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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Frequently Asked Questions about PatientPay
When was PatientPay founded?
PatientPay was founded in 2008 and raised its 1st funding round 2 years after it was founded.
Where is PatientPay located?
PatientPay is headquartered in Durham, United States. It is registered at Durham, North Carolina, United States.
Who is the current CEO of PatientPay?
Thomas Furr is the current CEO of PatientPay. They have also founded this company.
Is PatientPay a funded company?
PatientPay is a funded company, having raised a total of $30.83M across 6 funding rounds to date. The company's 1st funding round was a Series A of $6.03M, raised on Jul 30, 2010.
What does PatientPay do?
Founded in 2008 and based in Durham, United States, PatientPay operates in the healthcare finance sector. Patient payment solutions are developed to assist patients, practices, and hospitals in managing expenses. Explanation of Benefits is matched with provider charges to clarify patient responsibilities. Providers using the platform achieve average payment receipt in under 14 days, with reported savings of up to 4 per payment.
Who are the top competitors of PatientPay?
PatientPay's top competitors include Greenphire, Cedar and PayZen.
What products or services does PatientPay offer?
PatientPay offers PatientPay Solution and RCM Technology.
Who are PatientPay's investors?
PatientPay has 2 investors. Key investors include Esping Family Foundation, and Mosaik Partners.