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eVisit Closes $45 Million In Series B Funding Round Led By Goldman Sachs Asset Management

– New funding will be used to scale the Company’s go-to-market efforts and further invest in its technology platform and capabilities.
– eVisit is a leading SaaS telehealth Company — named the only “Leader” in The Forrester Wave™: Virtual Care Platforms in Digital Health; achieved 234% revenue growth over the last 12 months; and just named to the Inc. 5000 List of America’s fastest-growing companies.
– The Company’s telehealth platform powers key Virtual Care workflows for large-scale health systems, hospitals and Integrated Delivery Networks (IDNs), creating a digital extension of existing brick-and-mortar care delivery networks.
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eVisit, the leading Virtual Care platform for large healthcare providers, today announced that it has closed a $45 million Series B financing round led by the Growth Equity business within Goldman Sachs Asset Management (Goldman Sachs), with participation from Texas Health Resources, Tom Burton and Steve Barlow (Co-founders of Health Catalyst), and existing insiders. eVisit will invest the capital to drive growth by building out its Virtual Care platform and scaling up its sales and marketing efforts.

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The fundraise comes in the midst of eVisit’s rapid operational growth and staff expansion, driven by enterprise demand for its Virtual Care capabilities from large-scale Healthcare Organization (HCO) customers including Banner Health, Texas Health Resources Group, and Concentra. The Company’s end-to-end, HIPAA-compliant platform facilitates millions of virtual visits annually, connecting providers to patients and helping HCOs attract and retain patients, drive efficiencies, reduce costs and enhance patient outcomes. In an industry rapidly transitioning to a hybrid care model, eVisit is more than a technology platform with flexible workflows, a powerful integration layer, and sophisticated reporting and analytics, the firm also couples its leading platform with its Virtual Care Maturity Model™ that includes a benchmarking system and strategies to ensure customer success.

“We’re thrilled to partner with Goldman Sachs and other highly strategic capital partners as we execute on our next phase of growth,” said Bret Larsen, Co-founder and Chief Executive Officer, eVisit. “This successful round is a testament to the confidence we have built in our end-to-end technology platform, the immense potential embedded in our product roadmap, and our alignment with healthcare providers. We arm hospitals and health systems with the technology they need to compete in today’s increasingly dynamic market. We believe locally relevant healthcare, in which patients are served by the local healthcare infrastructure and providers that know them, is the best way to deliver holistic, preventative care at-scale.”

“Healthcare providers today are under immense pressure to modernize their practices, while also delivering high-quality care at lower costs,” said Chase Williams, a Vice President within Goldman Sachs Asset Management, who will join eVisit’s Board as part of the financing. “Against that backdrop, we expect Virtual Care to play a more fundamental role in facilitating greater access to quality healthcare and over the last 12 months, eVisit has seen rapid uptake. With their pure-tech approach and strong business model alignment with health system customers, we believe the Company is extremely well positioned to capture share, and we are excited to partner with them at this important stage in their lifecycle.”

eVisit’s vision is to simplify healthcare delivery to everyone, everywhere. The eVisit platform is purpose-built for health systems to leverage the power of Virtual Care to improve clinical workflow efficiencies and reduce costs, while enhancing individual patient outcomes and strengthening overall population wellbeing. eVisit was recently recognized by Forrester as the only “Leader” in its most recent Wave assessment of Virtual Care platforms and also had its first-time appearance on the prestigious Inc. 5000 List as No. 2,300 in the 2021 list announced last month.

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[To share your insights with us, please write to sghosh@martechseries.com ]

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