Healthtech startup PatientPartner raises $7m to revolutionize patient engagement

Healthtech startup PatientPartner, has raised $7 million in seed round funding led by LionBird and FCA Venture Partners. The round was comprised of $3.5 million in new money and $3.5 million of convertible debt from Alethea Capital and other strategic investors. This new capital will further expand PatientPartner's platform and get closer to its mission of creating a world where patients are informed and supported with each diagnosis and feel empowered to take the next step in their healthcare journey.

Over the past several years PatientPartner has used its unique patient mentoring platform to transform the patient experience and improve outcomes for their pharmaceutical clients. With the growing recognition that patients need more personalized experiences, the pharmaceutical sector has been turning to innovative technologies, like PatientPartner, to address these needs. Today, the platform has over 40,000 users and more than 500 mentors across a wide array of disease states and treatment types.

One of the largest emerging trends throughout the healthcare, pharmaceutical, and medical device industries has been the recent investments into their direct to patient initiatives such as Eli Lilly's "LillyDirect" & Pfizer's "PfizerForAll" platforms.

George Kramb, Co-founder and CEO, PatientPartner: "These efforts are driving progress in bridging the gap between companies' products and the patients who need them. This reflects a strong commitment to improving the patient relationship, which is one of the many factors that has led to our continued growth as a solution in the industry."

Unlike the current industry standards, PatientPartner's platform offers an unprecedented ability to connect patients with mentors in real-time, resulting in patients being proactive on their health. This unique capability has led to a new industry benchmark of achieving over a 71% success rate in prompting patients to take the next step in their healthcare journey.

Patrick Frank, Co-founder and COO, PatientPartner: "The next chapter of PatientPartner will be focused on expanding its platform, enhancing patient engagement, and personalizing healthcare journeys to improve data-driven outcomes."

Through its proprietary patient-sentiment reporting, the platform offers deeper insights and more relatable mentor connections which has a positive impact on patient decision-making.

Ed Michael, Partner, LionBird: "LionBird is excited to support PatientPartner as they revolutionize patient engagement and adherence in the pharmaceutical industry. Their innovative approach to patient mentoring aligns with our vision of backing startups that have the potential to significantly improve healthcare outcomes.''

www.patientpartner.com

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