Digital Assent, the Atlanta company behind the PatientPad self-service patient check-in and education solution, announced that it has received $7.5 million in a Series B funding round.
The lead investors were Sanan Private Equity, the BIP Opportunities Fund and Buckhead Investment Partners (BIP). Imlay Investments and BLH Venture Partners, who led the Series A funding earlier this year, also contributed.
"We are pleased to receive this investment and validation from Sanan Private Equity and BIP, along with our existing investors, who clearly recognize the rapidly growing market opportunity we are addressing," Digital Assent President and CEO Andrew Ibbotson said in the announcement. "Since launching PatientPad, the demand has been tremendous. It's now available in doctor's offices across half of the nation and this funding will help us realize our potential even faster."
The PatientPad is a wireless touch-screen solution that automates the patient check-in process and delivers targeted health information and advertising to interested patients while they sit in their healthcare provider's waiting room, exam room or treatment room.
This funding will fuel expansion of the company's sales, marketing and product development efforts, the company said. Since January, the company has sold nearly 1,500 PatientPads to 175 practices in 25 states to help streamline the patient check-in process. Ibbotson expects coast-to-coast coverage before the end of the year.
"Digital Assent's rapid growth — supported by an adoption rate north of 90 percent — is very impressive considering the company secured its Series A funding just a few months ago. Clearly this solution is one that is fulfilling a growing marketplace need," Sanan Private Equity Managing Director Chemain Sanan said in the announcement.
Digital Assent will also use the funding for near-term product enhancements including point-of-care and group coupon offerings delivered via the company's new PatientCoupons deals service, the company said, allowing physicians to offer cost-saving incentives on current or future elective products, services and procedures.
