DocuTAP, a US provider of an integrated electronic health records and practice management technology for urgent care providers, has raised $11.9m in Series B funding from global venture capital firm Bessemer Venture Partners (BVP).
DocuTAP’s existing financial partner Bluff Point Associates also participated in the round.
It said it will use the proceeds to increase their market presence, accelerate sales, and bolster their technology. DocuTAP has already experienced “tremendous” growth over the past twelve months and has tripled its workforce to better support and develop its platform and services.
Founded in 2000, the Sioux Falls, South Dakota-based company offers EHR and practice management software to digitalise urgent care clinic processes, removing the need for manual paper documentation by administrators, nurses, and physicians.
“Urgent care is one of the fastest growing sectors within the healthcare marketplace and we are excited to be investing in DocuTAP, the leading EHR and practice management platforms serving the urgent care market,” said Steve Kraus, partner at Bessemer Venture Partners. “Bessemer’s history of successfully investing in both vertical SaaS solutions and healthcare companies gives us the unique knowledge and expertise to help Eric and the DocuTAP team to continue to build on the platform.”
With $4bn under management BVP has offices in Silicon Valley, Cambridge, New York, Mumbai, Bangalore and Herzliya, Israel. Portfolio companies include Staples, Skype, VeriSign, Yelp, LinkedIn and Pinterest. Most recently the firm led a $1m funding round for Singapore-based tech startup Nitrous.IO.
Bluff Point Associates targets information services companies supporting the banking, trust, securities, retirement and wealth management sectors of the financial services industry.
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