CredSimple Secures $14 Million Series B Funding to Expand Cloud-Based Credentialing Solutions

VCBeat (WeChat ID: vcbeat) learned from foreign media reports that on June 12, 2019, CredSimple, a world-leading medical credentialing organization based on cloud computing technology, announced the completion of its $14 million Series B financing round. The round was led by Questa Capital, with participation from existing investors Windham Venture Partners and Primary Ventures.

CredSimple will leverage this funding to enhance customer experience, launch new products and services, accelerate sales, promote cloud-based credentialing solutions, and expand its executive team.

CredSimple leverages cloud computing technology to transform credentialing services for healthcare professionals and facilities into cost-effective, efficient, and rational solutions. Accredited by the National Committee for Quality Assurance (NCQA), CredSimple’s CVC platform automates and streamlines the credentialing process, enhancing transparency and visibility for enterprises. CredSimple serves a diverse client base, including startups, large integrated health systems, independent physician associations (IPAs), telehealth companies, and other healthcare organizations.

“CredSimple is redefining the credentialing process in the healthcare industry. Our CVC platform reduces credentialing backlogs, lowers compliance risks and administrative costs, and streamlines operational workflows—delivering reliable turnaround times and cutting-edge services to our clients. This funding will enable us to enhance the customer experience, accelerate innovation, and expand our market share,” said Mike Simmons, Founder and CEO of CredSimple. “We are delighted to partner with Questa and appreciate their recognition of our efforts to simplify credentialing in this industry.”

Questa is led by veterans from the healthcare and operations industries, boasting deep expertise in the medical field. Brad Sloan, Managing Director at Questa Capital, commented, “CredSimple addresses the costly pain points faced by national agencies and enterprises by replacing traditionally labor- and resource-intensive credentialing processes with an efficient, transparent, and integrated credentialing solution. Over the years, our research into the healthcare sector has identified key challenges in medical investments. Given the significant market opportunities, we believe it is time to invest in CredSimple’s innovative solutions.”

CredSimple is a cloud-based healthcare credentialing company that serves independent physician associations, telehealth companies, healthcare organizations, and more. Healthcare institutions can manage their credentialing needs efficiently through the CVC platform. Founded in 2013, CredSimple is headquartered in New York.

Quest Capital is a California-based venture capital firm that provides a range of financial products and services to investors and brokers. Quest seeks disruptive, technology-driven business models that deliver higher-quality healthcare services, help improve patients’ lives, and enhance market efficiency. Quest partners with exceptional management teams to help them become market leaders in the fields of health technology, healthcare services, and medical devices. Led by veterans from the healthcare investment and operations industries, Quest has invested in and advised 45 high-growth companies.

(Compiled by: Zhang Jing)