Caremerge, the Chicago-based company offering care coordination software for assisted living facilities, has raised $14 million in funding. Insight Venture Partners led this funding round, which will enable Caremerge to expand in the post-acute care market. Additional funders were previous investors Grazyny Kulczyk, Cambia Health Solutions, Ziegler LinkAge Longevity Fund, GE Ventures and Arsenal Venture Partners.
The company, which bills itself as a person-centered connector across the care continuum, debuted in 2012 and provides a HIPAA-compliant platform that allows for communication between older patients and their hospitals, ACOs, physicians, long-term care providers and families through a common portal. Through individual customized interfaces on computers and mobile devices, these parties can access the patient’s health information, activity participation and the location of clinics or other providers where patients seek care.
Caremerge’s CEO and co-founder Asif Khan said bringing Insight Venture Partners into the fold will allow the company to grow, as well as employ technology to reduce healthcare information silos.
“Insight has tremendous expertise in scaling SaaS companies and we look forward to harnessing all Insight has to offer and exponentially growing Caremerge together,” Khan said in a statement.
The investment round also brings new additions to the Caremerge Board of Directors. Harley Miller, Vice President at Insight Venture Partners and Dan Hermann, Senior Managing Director and Head of Investment Banking at Ziegler will join the board of directors.
Miller said the company shared Caremerge’s goal of enabling cross-enterprise workflow automation.
“We share the same belief that the next era of healthcare, driven by value-based care (ACA) requires a simple, yet flexible platform capable of breaking healthcare silos while placing the patient at the center,” Miller said in a statement.
Caremerge previously raised $4 million in a funding round last year and $2 million July 2013. It has participated in several accelerators including StartUp Health’s collaboration with GE and eldercare-specific Aging 2.0.
