GrowthPlug Secures $1M Seed Funding to Advance Healthcare Practice Management Software

VCBeat (WeChat ID: vcbeat) learned from foreign media reports that on December 12, 2019, U.S. healthcare software startup GrowthPlug announced it had secured $1 million in financing led by Elevate Capital.

This round of financing will be used to advance the research and development of GrowthPlug’s office management system for medical institutions and to expand the operational scope of its technical products.

Concurrent with this financing round, Nitin Rai, Managing Director of Elevate Capital, has joined the Board of Directors of GrowthPlug.

GrowthPlug was founded in Silicon Valley in November 2016 by its Chief Operating Officer, Shavita Bhatti. The company has recently relocated to Beaverton, Oregon, establishing its headquarters in the Beaverton City Hall building.

GrowthPlug is dedicated to helping healthcare organizations acquire, retain, and serve patients through its various office management systems developed in-house. Meanwhile, it also provides services to hundreds of medical practitioners across the United States, including dentists, ophthalmologists, and veterinarians. Over the past year, the company’s revenue has grown by 300%. GrowthPlug currently employs 25 staff members and plans to hire an additional 25 employees next year.

Regarding this investment, Nitin Rai stated, “We are deeply impressed by the innovative and personalized services that GrowthPlug provides to clients in the medical practice market. Our investment in GrowthPlug also aligns with our philosophy of funding minority entrepreneurs with disruptive ideas—both co-founders of GrowthPlug are people of color.”

Sudhir Bhatti, CEO and Co-Founder of GrowthPlug, stated, “Since its inception, GrowthPlug has been striving to evolve to meet the growing demands of the healthcare market. At this stage, there are more than 300,000 healthcare practitioners in this market who need our products. Our customers have told us that GrowthPlug has enabled their businesses to grow rapidly, improved patient experiences, and enhanced healthcare providers’ ability to engage in practice. We are confident in the future development of GrowthPlug.”

Elevate Capital is a venture capital firm headquartered in the Pacific Northwest of the United States, primarily investing in early-stage underrepresented entrepreneurs (including women, ethnic minorities, veterans, and entrepreneurs from disadvantaged areas). Elevate Capital invests through two funds: the Elevate Capital Fund and the Elevate Inclusive Fund. Since 2016, Elevate Capital has invested nearly $8 million in 37 startups, most of which are located in Oregon, with nearly 85% of the company founders being women, ethnic minorities, veterans, LGBTQ individuals, and people of color. These companies have created more than 200 jobs in Oregon.

(Compiled by Wang Fang)