Investments to Launch New Epic Collaboration and Extend Leadership in Provider Information Management Marketplace
DALLAS/PRNewswire/ -- Phynd Technologies, Inc., a leading provider information management platform, today announced it has completed a Series B funding round of more than $8 million.
Participating investors include the MemorialCare Innovation Fund, Rex Ventures (the investment arm of UNC Health Care), Orlando Healthcare Ventures and Dallas Venture Partners. Rex Ventures, Orlando Healthcare, and Dallas Venture Partners participated in Phynd's Series A round.
"Phynd's platform supports fundamental provider-dependent workflows: provider enrollment, management, reporting and search," said Tom White, CEO of Phynd. "Funding from our partners will accelerate our commitment to elevate provider data to the same level of importance as patient information in a health system. This investment will further support Phynd embedding robust provider information in internal and external systems across our clients' enterprises. The addition of MemorialCare to our board strengthens an already-strong and committed team of investors and advisors."
"Phynd's platform uniquely fills a critical need which all health systems require – management of operational data for all providers – to better serve their patients, partners, providers and payors. We're excited to be investing in a company so well positioned for continued growth through its product leadership," said Brant Heise, Managing Director of the MemorialCare Innovation Fund. "Phynd's value has established it as a strategic investment for health systems that want to implement leading management practices including operational excellence, consumer- and value-based care initiatives."
Phynd enables health systems to build a searchable database on all providers that interact with a health system – 60,000 providers on average – that can be embedded into their Electronic Health Record (EHR), internal provider directory, public facing website and partner search pages. The Series B funds will be used to grow the collaboration with Epic and other critical healthcare software platforms. Phynd will also increase investments in its core platform, enhancing its provider enrollment, management, search and reporting capabilities.