DrChrono Raises $12 Million in Series A Funding to Expand Mobile EHR Platform

Mobile electronic health record (EHR) management platform DrChrono announced on April 6 that it had completed a $12 million Series A financing round. The round was led by Runa Capital, with participation from investors Eric Dunn (CEO of Quicken Inc. and former CTO of Intuit), as well as the investment firms FundersClub and Maxfield Capital. Following the completion of this investment, Andre Bliznyuk of Runa Capital and Oleg Koujikov of Maxfield Capital joined DrChrono’s board of directors.

DrChrono, founded in August 2009 and headquartered in Mountain View, California, is a mobile EHR platform designed for physicians and patients. It offers comprehensive electronic health records, medical practice management, medical APIs, and revenue cycle management capabilities, including cloud-based scheduling, clinical documentation, patient portals, and billing software to enhance the quality of patient care. The premium version provides advanced features such as increased storage and medical billing management.

In January 2011, the renowned investment firm Y Combinator invested inDrChrono's First Seed Investment. Across a total of eight funding rounds, the company has raised $18.73 million. Following this latest round, DrChrono plans to allocate the funds toward enhancing its EHR platform, talent acquisition, operational expansion, and future growth needs, with a particular focus on promoting its iOS application.

As the first EHR (Electronic Health Record) application designed for iPad and iPhone, it enables physicians and healthcare professionals to leverage cutting-edge technology for electronic medical record entry, thereby enhancing efficiency, reducing costs and workload, while fostering patient loyalty. Furthermore, DrChrono has launched OnPatient, a patient check-in application that allows patients to update their relevant medical data while waiting in the examination room. Whether for small clinics or large healthcare institutions, DrChrono meets their diverse needs.

Last year, DrChrono underwent significant version and business upgrades, completely phasing out traditional EMR systems in favor of a transition to cloud-based technologies, real-time business intelligence tools, RCM software, and mobile applications. Post-upgrade, the platform utilizes HIPAA-compliant cloud servers, offering enhanced technical security.

DrChrono has expanded its EHR functionality, capacity, and RCM services to facilitate adoption by large healthcare institutions and provide API access, enabling other developers to build on the DrChrono platform. The software allows integration with third-party development platforms, with hundreds of developers incorporating applications from the DrChrono ecosystem into solutions such as Eko Devices’ digital stethoscopes and the Health Gorilla platform. Major companies like ZocDoc and DemandForce have also integrated with DrChrono to enhance user experience.

The company processes over one million user scheduling requests per month, with annual revenue exceeding $12 million. To date, DrChrono has served more than 8 million patients, and over $3.5 billion in medical claims have been submitted through DrChrono.

Michael Nusimow, Founder and CEO of DrChrono, began his career as a software engineer in 2000 and subsequently served as CTO at two startups: Noreast Netcomm (2005–2006) and Hurry Games (2006–2007). “DrChrono is at a critical stage in its corporate development. Our platform is making significant strides as we expand our customer base from solo practices to mid-sized enterprises and larger healthcare institutions, offering integrated EHR, practice management, and RCM solutions,” said Michael. “With the support of investors, we can scale our platform to meet the needs of physicians and healthcare organizations of all sizes, while continuing to innovate in mobile health technology.”

DrChrono’s funding rounds to date, with a total of $18.73 million

Sources: http://www.hitconsultant.net/, https://www.crunchbase.com