What is ModMed?
Founded in 2010 and headquartered in Boca Raton, Florida, ModMed has established itself as a critical provider of specialized healthcare IT solutions. The company offers a comprehensive suite of Electronic Health Record (EHR) systems, practice management tools, and advanced analytics platforms designed to streamline clinical workflows. By integrating inventory management and specialty care software, ModMed addresses the complex operational challenges faced by modern medical practices, positioning itself as a vital partner in the digital transformation of the healthcare industry.
How much funding has ModMed raised?
ModMed has raised a total of $332.7M across 8 funding rounds:
Private Equity
$7.1M
Private Equity
$12M
Series C
$14M
Series D
$15.6M
Multiple Rounds
$53M
Private Equity
$231M
Private Equity (2011): $7.1M, investors not publicly disclosed
Private Equity (2012): $12M led by Pentland Group plc
Series C (2013): $14M supported by Summit Partners
Series D (2014): $15.6M featuring Summit Partners and Pentland Group
Unspecified (2015): $5M backed by IBM
Debt (2015): $10M with participation from Silicon Valley Bank
Series E (2015): $38M led by Summit Partners, Sands Capital Ventures, and Pentland Group
Private Equity (2017): $231M supported by Warburg Pincus LLC
Key Investors in ModMed
Warburg Pincus LLC
A leading global private equity firm renowned for its expertise in growth investing and supporting management teams in building sustainable, long-term success.
Summit Partners
An established equity investment firm focused on providing capital and strategic support to entrepreneurial companies across various growth stages.
Pentland Group
A diversified investment group with a long history of supporting business development and operational excellence across international markets.
What's next for ModMed?
Looking ahead, ModMed is well-positioned to leverage its significant capital reserves to accelerate product innovation and market penetration. The company's strategic focus remains on enhancing its cloud-based infrastructure and artificial intelligence capabilities to drive operational efficiency for its clients. As the healthcare sector continues to prioritize data-driven decision-making, ModMed's ability to scale its enterprise-grade software will be pivotal in maintaining its competitive advantage and fostering long-term value creation for its stakeholders.
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