Medical image-sharing startup PocketHealth raises $33M in series B financing
Medical image-sharing startup PocketHealth has raised $33 million in new capital, leaders announced Wednesday.
Toronto-based investment firm Round13 Capital led the series B financing round with additional contributions from the investment arms of Samsung and Deloitte, along with previous contributors Questa Capital and Radical Ventures.
PocketHealth said it will use the money to grow its footprint in the U.S. and its home country of Canada. As part of this push, the Toronto firm plans to double its workforce in the next two years.
“For 20 years, medical image exchange has meant moving files across a closed network, from point A to point B,” Co-founder and CEO Rishi Nayyar said in a March 20 announcement. “We’re now seeing some of the largest health systems in North America expecting more from their image exchange and adopting PocketHealth to drive patient retention, satisfaction and finally solve their image exchange needs.”
Founded in 2016, the company offers what it believes is the first “patient-centric” image sharing platform. It allows healthcare consumers to instantly access and share images and records at any time, along with enabling direct sharing between physicians and other facilities. Leaders said more than 775 hospitals and outpatient imaging centers now use its solution.
The PocketHealth platform also employs AI to provide patients with insights about their health. Current clients include UofL Health in Louisville, Kentucky, and El Segundo, California-based Radiology Partners. The company has now raised $55 million in financing including a previous funding round announced in April 2022.
Marty Stempniak has covered healthcare since 2012, with his byline appearing in the American Hospital Association's member magazine, Modern Healthcare and McKnight's. Prior to that, he wrote about village government and local business for his hometown newspaper in Oak Park, Illinois. He won a Peter Lisagor and Gold EXCEL awards in 2017 for his coverage of the opioid epidemic.