The COVID-19 pandemic has accelerated both the consumerization of healthcare and digital transformation initiatives to meet those demands
PALO ALTO, Calif. (May 18, 2021) – SymphonyRM, healthcare’s Next Best Action company, announced today that it has raised $25 million in Series B funding. The round is led by new investment partner TT Capital Partners (TTCP) with continued investment from Adams Street Partners (Adams Street). SymphonyRM has raised $35 million following the closing of its $10 million Series A in 2019.
The capital injection will further fuel SymphonyRM’s sales and marketing efforts to support the accelerated demand for actionable intelligence that helps provider and payer organizations maximize patient outcomes and revenue growth. SymphonyRM also plans to increase their reach and footprint in the payer segment by leveraging data science and sophisticated AI, to create next best actions that improve member experiences.
“We’re thankful to have established a partnership with TTCP, which is one of the most revered investors in emerging healthcare technology and SaaS companies, and to have the renewed support of Adams Street, which has been an exceptional steward of our organization’s evolution” said Michael Linnert, CEO of SymphonyRM. “Individually, each organization is known for its successes helping companies navigate the growth stage, and together, we are working with the best possible team to shepherd us through this exciting new chapter.”
Doubling down on its belief that SymphonyRM is a market disruptor and leader, TTCP Vice President Donnacha O’Sullivan has joined SymphonyRM’s Board of Directors. The addition adds depth to a versatile bench that was strengthened earlier this year by the appointment of 2019 HIMSS and CHIME Chief Information Officer of the Year Marc Probst.
“The doctor-patient relationship is core to healthcare delivery and improved health outcomes. SymphonyRM’s capabilities further this important relationship, while helping providers become even more successful in the era of value-based care,” said O’Sullivan. “We look forward to collaborating with SymphonyRM’s strong management team as they continue advancing the use of actionable data to help health systems and consumers thrive.”
Tom Bremner, Partner with Adams Street, added, "SymphonyRM has always had its eye on where healthcare is going, and we look forward to supporting the team as they innovate, flourish and cement the company’s reputation as the preferred provider of healthcare consumer engagement solutions.”
SymphonyRM will speak at the annual Healthcare Marketing & Physician Strategies Summit (HMPS) in October.
TT Capital Partners (TTCP) is a healthcare investor, collaborating with healthcare technology and services companies that have the potential to become market leaders. Leveraging the insights garnered from a unique knowledge-based platform, TTCP has invested in some of the most innovative, high-growth healthcare businesses. TTCP is part of the TripleTree healthcare merchant bank. For more information, visit www.TTCapitalPartners.com.
About Adams Street Partners
Adams Street Partners is one of the largest and most established private markets investment management firms in the world. Adams Street commenced its investment program in 1972, and today manages $45 billion of assets across five strategies – primary and secondary private fund investments, co-investments, private credit investments, and direct growth equity investments. Adams Street employs more than 200 people in Chicago, Beijing, Boston, London, Menlo Park, Munich, New York, Seoul, Singapore, and Tokyo.
SymphonyRM is helping health systems transform how they acquire, engage, and retain patients by creating an engagement model rivaling the capabilities of world-class, consumer-centered organizations. By generating data-driven, prioritized next best actions for every consumer, prospect, and provider in a health system, SymphonyRM is helping organizations anticipate member needs and use proactive outreach to build deeper customer relationships and drive better outcomes while increasing revenue. For more on SymphonyRM, visit: symphonyrm.com Connect with SymphonyRM on LinkedIn: linkedin.com/company/symphonyrm Follow @SymphonyRM on Twitter: twitter.com/symphonyrm Like SymphonyRM on Facebook: facebook.com/symphonyrm