PocketHealth, the leader in patient-centric medical image exchange, today announced it has raised $33 million USD ($45 million CAD) in Series B funding. The all-equity round was led by Round13 Capital with participation from Deloitte Ventures, Samsung Next, and existing investors Questa Capital and Radical Ventures.
PocketHealth, a pioneer in patient-centric medical image exchange, has announced a successful Series B funding round of $33 million USD ($45 million CAD). Led by Round13 Capital and with participation from Deloitte Ventures, Samsung Next, Questa Capital, and Radical Ventures, this equity round will fuel PocketHealth’s mission to transform how medical images are shared, enhance patient care through AI personalization, and expand its presence across the US and Canada. The company plans to double its workforce over the next two years to support these initiatives.
Founded in 2016 by Harsh and Rishi Nayyar, PocketHealth aims to empower patients with access, control, and comprehension of their health records while simplifying medical imaging sharing among healthcare providers.
Rishi Nayyar, Co-Founder and CEO of PocketHealth, highlighted the importance of improving patient access to diagnostic imaging and leveraging AI capabilities to enhance patient understanding. By offering a secure platform for image exchange, PocketHealth facilitates seamless sharing among patients and providers, eliminating the need for outdated methods like CD-ROMs or broken portal experiences.
The platform’s AI features, such as Report Reader and Follow-Up Navigator, provide personalized insights and recommendations to patients, leading to improved patient satisfaction and retention. According to surveys, 87% of patients are more likely to return to the same healthcare provider when they have access to their imaging through PocketHealth.
PocketHealth’s success stories include Valley View Hospital in Colorado, which reduced CD-related costs by 95%, and Unity Health in Toronto, which saved over $120,000 annually and optimized their imaging processes.
Brahm Klar, Managing Partner at Round13 Capital, praised PocketHealth’s innovative approach and resilient product experience, emphasizing the positive impact on patients, physicians, and healthcare providers.
With major contracts secured with leading health systems and imaging groups, PocketHealth is poised for significant growth and impact in the healthcare industry. This funding brings PocketHealth’s total equity raised to over $55.5 million USD ($75 million CAD), marking a significant milestone in its journey towards revolutionizing medical image exchange and patient care.
