Key Highlights
- Loyal closes $33.5M Series B financing to expand customer base and product development.
- Chad Mallory steps down as Chairman and CEO, transitions to Senior Advisor role.
- Saurabh Sinha appointed Chairman of the Board of Directors.
- Mark Hipp joins the Board, bringing expertise in high-growth tech businesses.
Source: Business Wire
Notable Quotes
- “Loyal fills a critical gap in consumer care navigation and represents a huge opportunity to improve the lives of patients and the healthcare experience for all.” — Saurabh Sinha, Chairman of the Board at Loyal
- “This moment is about putting the right capital, people and plan together to build on the initial vision and achievements of Chad and the broader Loyal team.” — James Olsen, Founder and Managing Partner at Concord Health Partners
- “My vision from day one at Loyal was to help patients navigate their way to better care. I’m hopeful Loyal’s next phase can help even more patients lead their healthiest lives.” — Chad Mallory, Founder at Loyal
SoHC's Take
The successful closing of Loyal’s $33.5M Series B financing marks a significant milestone in the company’s journey towards enhancing digital patient engagement. With strategic leadership changes and the infusion of capital, Loyal is well-positioned to scale its operations, expand its customer base, and further develop its innovative platform. The appointment of industry veterans like Saurabh Sinha and Mark Hipp to the Board underscores the company’s commitment to growth and excellence in healthcare technology. Loyal’s platform, which consolidates disparate technology stacks to improve efficiencies and patient access, aligns perfectly with the evolving needs of health systems, making it a critical player in the healthcare sector.
