Patient engagement, care coordination company CipherHealth raises $37.6M investment

By Dave Muoio
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Patient engagement and care coordination technology company CipherHealth has raised approximately $37.6 million in funding, according to a recent SEC filing. The funding was led by JMI Equity.

"We're excited to partner with JMI and leverage their expertise and industry network to continue to grow and expand," Randy Cheung, CEO and cofounder of CipherHealth, said in a statement. "JMI has a successful track record of supporting high-growth SaaS companies, and we are thrilled that they are joining us on our journey as we accelerate our growth and deliver the most comprehensive and integrated engagement platform available in healthcare.”

Founded in 2009, CipherHealth offers healthcare organizations a slew of technology offerings designed to improve outcomes, streamline workflows, and connect with patients.

The company’s Voice automated patient outreach, for instance, delivers call and text support for pre-op and post-discharge patients while identifying potential issues and providing patient education. Its Orchid product supports clinicians with digital rounding, care checklists and patient-facing surveys, while the View care coordination platform includes various population health management tools.

"The team here is thrilled about the partnership with JMI. Their team brings experience building billion dollar companies like ServiceNow, Kronos and great healthcare experience with PointClickCare and Studor, so the alignment is perfect," Zach Silverzweig, cofounder of CipherHealth, told MobiHealthNews in an email. "We've already built the number one products in patient outreach, digital rounding and care management categories. Now we can look even further, building off our strong technical and customer foundations to aggressively expand the suite of services as the first truly comprehensive patient engagement platform."

Along with both acute care and post-acute care provider settings, the company also markets its products to accountable care organizations and managed care organizations.

"CipherHealth's solutions are pioneering more effective ways for healthcare providers to engage with their patients, driving improved clinical outcomes and patient experience," Matt Emery, general partner at JMI who will join CipherHealth’s board, said in a statement. "We look forward to partnering with CipherHealth as the team continues to innovate at the forefront of patient-centric care."