Key Highlights
- $20 million Series A financing closed, led by Frist Cressey Ventures and supported by notable investors.
- Aimed at revolutionizing health system transformation through digital innovation and individualized health solutions.
- Praia Health, incubated at Providence, has over 3.5 million user accounts, showcasing the platform’s broad impact and adoption.
Source: PR Newswire
Notable Quotes
- “Praia Health represents our dedication to support both our patients and caregivers, bringing identity-driven personalization to the communities we serve,” – Rod Hochman, M.D., President and CEO at Providence
- “At Frist Cressey Ventures, we are committed to identifying companies with potential to revolutionize the health care landscape,” – Senator Bill Frist, M.D., co-founder and partner at FCV
- “Praia Health will enable us to remove the traditional barriers to patient care by personalizing individuals’ health journeys and seamlessly connecting them to the right services, products and resources—in an automated way,” – Patrick McGill, M.D., EVP and Chief Transformation Officer at Community Health Network
SoHC's Take
The successful closing of Praia Health’s oversubscribed Series A funding round is a testament to the growing recognition of the need for innovative digital health solutions that offer personalized care at scale. This funding will undoubtedly propel Praia Health’s mission forward, enabling the company to expand its impact on health system transformation. The support from leading healthcare venture firms and the platform’s significant adoption highlight the industry’s commitment to leveraging technology for better health outcomes. With its roots in Providence’s incubation model, Praia Health is well-positioned to lead the charge in revolutionizing how health systems deliver care, making a significant contribution to the broader goal of improving health services through digital transformation.
