Navigation Links
Phreesia Secures $11.6M Series C Funding Led by BlueCross BlueShield Venture Partners and Sandbox Industries
Date:2/17/2009

NEW YORK, Feb. 17 /PRNewswire/ -- Phreesia, the Patient Check-In Company(TM), the leader in patient-intake, announced today the close of an $11.6 million investment, bringing total investment to date to $25 million. BlueCross BlueShield Venture Partners, L.P., a corporate venture fund of the BlueCross BlueShield Association, and Sandbox Industries led the round, joining existing investors Polaris Venture Partners, HLM Venture Partners, and Long River Ventures. As part of the investment, Paul Brown, Managing Director of BlueCross BlueShield Ventures, Inc. and Matthew Downs, Managing Partner of Sandbox Industries will join the Phreesia board of directors.

"This investment by BlueCross BlueShield Venture Partners and Sandbox Industries is a validation of Phreesia's successful growth as the Patient Check-In Company and as a leading healthcare information technology company. Phreesia will use this funding to expand its rapidly growing footprint of thousands of doctors in 49 states," said Chaim Indig, Phreesia's President and Chief Executive Officer. "Given the push by the new Administration toward advanced healthcare IT adoption, this is an exciting time to be at the forefront of technology for patient-centered care. We are proud to have such a strategic partner lead this round."

Paul Brown, Managing Director of BlueCross BlueShield Ventures, Inc., said, "BlueCross BlueShield Venture Partners is committed to ensuring that providers are able to deliver the best care possible to patients. In Phreesia we are investing in a healthcare company that is demonstrating enhanced clinical outcomes for patients and more accurate, hassle-free information for physicians. Our providers and members will benefit from improved monitoring of treatment response and overall support of measurement-guided care."

BlueCross BlueShield Venture Partners is a $116 million venture capital fund to which 11 independent BlueCross BlueShield companies have committed capital. The fund invests in technologies, products, and services in the U.S. healthcare industry that promote efficiency, lower costs, and improve options for consumers. In a unique partnership, the fund is managed jointly by representatives from the BlueCross BlueShield Association, participating BlueCross BlueShield companies, and Sandbox Industries, a Chicago-based venture capital firm.

Allen & Company LLC served as the exclusive placement agent for the private placement.

About Phreesia

Phreesia is the Patient Check-In Company. Phreesia automates patient check-in and delivers fully interactive content direct-to-patients, designed to interface with physicians' existing and future technology. Replacing the traditional patient clipboard with a free wireless touch screen and swipe-card enabled PhreesiaPad significantly improves the patient check-in experience. Phreesia is backed by premier venture capital firms and draws on the expertise of a leading Medical Advisory Board. www.phreesia.com

About BlueCross BlueShield Venture Fund

BlueCross BlueShield Venture Partners, L.P. is a $116 million corporate venture fund, sponsored by the BlueCross BlueShield Association, a national federation of 39 independent, community-based and locally operated BlueCross BlueShield companies that collectively provide healthcare coverage for more than 102 million individuals -- one in three Americans. The fund's objective is to invest in promising emerging companies of strategic relevance to the 11 BlueCross BlueShield companies that have made voluntary capital commitments.

About Sandbox Industries

Sandbox Industries is an early-stage venture capital firm located in Chicago. Sandbox is the exclusive fund manager of BlueCross BlueShield Venture Partners. Founded in 2003, Sandbox Industries is managed by leaders in identifying and commercializing novel ideas and technologies. The Sandbox Team utilizes its network and unique combination of operational, strategic, and financial expertise to provide access to customers, capital, and connections when building market-leading companies.

About Polaris Venture Partners

A national venture capital firm with over $3 billion under management, Polaris invests in seed, early-stage and growth equity businesses in the technology, life science, digital media, enertech, and consumer sectors.

Through a philosophy of lead investing and active, long-term partnering with entrepreneurs and management teams, Polaris has helped many companies achieve outstanding success. Among them are: Accordant Health Services, Acusphere, Advanced Inhalation Research (AIR), Akamai Technologies, Allaire Corporation, Alnylam Pharmaceuticals, American Superconductor, Archivas, Aspect Medical Systems, Avici Systems, Centra Software, Classifieds2000, Cubist Pharmaceuticals, Cushcraft Corporation, deCODE genetics, Exchange.com, GlycoFi, Matrics, Momenta Pharmaceuticals, Paradigm Genetics, Powersoft, Solidworks, TechTarget, and TransForm Pharmaceuticals. For more information, please visit www.polarisventures.com.

About HLM Venture Partners

HLM Venture Partners, based in Boston, provides venture capital to emerging companies focused in the healthcare information technology, healthcare services and medical technology sectors. HLM Venture Partners supports entrepreneurs as they turn innovative ideas into market-leading businesses, offering guidance on financial structuring and mergers, resource allocation and deployment, strategic planning, strategic introductions, and recruitment. For more information, please visit www.hlmventurepartners.com.

About Long River Ventures

Based in Westborough, Mass. and the Amherst area, Long River Ventures invests in early-stage information technology, healthcare, communications, and other technology-driven product manufacturing and service businesses. The firm provides capital, operational expertise and an extensive network of contacts and relationships. For more information, please visit www.longriverventures.com.


'/>"/>
SOURCE Phreesia
Copyright©2009 PR Newswire.
All rights reserved

Related medicine news :

1. Phreesia Launches at DEMOfall 07
2. SpectraScience Secures Distribution for WavSTAT(R) Cancer Diagnosis System in Greece & Cyprus
3. Diagnosoft(R) Secures $4 Million in Financing and Appoints a New President and CEO
4. Stuart M. Goldstein, Southern New Jersey Patent and Intellectual Property Attorney, secures a New Revolutionary Eco-Friendly Patent
5. Orthomimetics Secures CE Mark Approval for Chondromimetic
6. Precision Therapeutics Secures $43 Million in Venture Capital Funding
7. DFine Secures $30 Million in Series D Funding
8. Ocean Nutrition Canada Limited Secures Their Position as the Largest Omega-3 EPA/DHA Ingredient Supplier in the World
9. Cohera Medical Secures $16.1 Million in Series B Financing
10. Miller, Murtha & Psoras Secures Multimillion-Dollar Settlement for Victim of Industrial Accident at Bethlehem Steel
11. Almost Family Secures $75 Million Revolving Credit Facility
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:6/27/2016)... ... ... TopConsumerReviews.com recently awarded their highest five-star rating to Best Buy Eyeglasses, an ... United States and Canada wear eyeglasses. Once considered to be a purely functional part ... fashion statement. Even celebrities use glasses as a way of creating an iconic image—like ...
(Date:6/26/2016)... ... ... legally blind and certified personal trainer is helping to develop a weight loss fitness plan ... fix the two major problems leading the fitness industry today:, , ... They don’t eliminate all the reasons people quit their exercise program ...
(Date:6/25/2016)... Aliso Viejo, California (PRWEB) , ... June 25, 2016 , ... ... preset to fit their specific project," said Christina Austin - CEO of Pixel Film ... all fully customizable and all within Final Cut Pro X . Simply select ...
(Date:6/25/2016)... ... 25, 2016 , ... Conventional wisdom preaches the benefits of moderation, whether it’s ... setting the bar too high can result in disappointment, perhaps even self-loathing. However, those ... goal. , Research from PsychTests.com reveals that behind the tendency to ...
(Date:6/24/2016)... ... 2016 , ... The Pulmonary Hypertension Association (PHA) learned during ... two significant new grants to support its work to advance research and patient ... recognizing patients, medical professionals and scientists for their work in fighting pulmonary hypertension ...
Breaking Medicine News(10 mins):
(Date:6/23/2016)... , June 23, 2016 Roche (SIX: ... 510(k) clearance for its Elecsys BRAHMS PCT (procalcitonin) assay ... sepsis or septic shock. With this clearance, Roche is ... a fully integrated solution for sepsis risk assessment and ... with bacterial infection and PCT levels in blood can ...
(Date:6/23/2016)... June 23, 2016 , , ... July 7, 2016 , , , , LOCATION: , , ... , , , EXPERT PANELISTS:  , , , Frost & ... Analyst, Christi Bird; Senior Industry Analyst, Divyaa Ravishankar and Unmesh Lal, ... The global pharmaceutical industry is witnessing an exceptional era. Several new ...
(Date:6/23/2016)... 2016 The vast majority of dialysis patients ... Treatments are usually 3 times a week, with treatment ... travel time, equipment preparation and wait time.  This regimen ... for patients who are elderly and frail.  Many elderly ... rehabilitation centers for some duration of time. ...
Breaking Medicine Technology: