PatientBond Announces New CEO and Series C Round of Funding
PatientBond is excited to announce two major milestones in its consistent growth and success. In a press release dated February 4, 2021, Justin Dearborn has been named as Chief Executive Officer while the Company closed its Series C financing.
Mr. Dearborn has over 25 years of experience as an executive for healthcare, technology and software companies. Most notably, Mr. Dearborn led a successful turnaround of Merge Healthcare, where he grew the business from a $10 million enterprise value to a sale to IBM for $1 billion.
Referring to PatientBond as a leading patient engagement SaaS provider using a proprietary psychographic segmentation model to motivate healthcare consumer behaviors, Mr. Dearnborn stated, "PatientBond is uniquely positioned to capitalize on the continued focus of healthcare payers, providers and life sciences companies on digital engagement with members, patients and users."
Anurag Juneja, who has been Chief Executive Officer since co-founding the company, will continue as President and oversee product development and Customer Success. Under Mr. Juneja's leadership, PatientBond has consistently met its revenue and growth targets, even growing substantially in 2020 during the COVID-19 pandemic. PatientBond has achieved an industry-leading Net Promoter Score (NPS) of 82 the past two years, while the IT industry as a whole averaged only 33. PatientBond has also been named in the Inc. 5000 list of fastest growing companies two years running and gained recognition in the Financial Times "America's Fastest Growing Companies 2020."
Capitalizing on this momentum, Justin Dearborn was brought on to propel PatientBond to the next level and beyond. Jonathan Phillips, PatientBond's Chairman of the Board, stated, "We believe Justin's strong leadership experience will complement the great team at PatientBond as we prepare for the next stage of growth, similar to what he was able to achieve in growing Merge Healthcare's revenue by a factor of ten."
Series C Funding
PatientBond raised a substantial amount of funding from investors who are confident in PatientBond's track record and potential. The new funding will be used to rapidly expand the Company's go-to-market offerings, the sales team and its industry leading customer success team. All existing investors participated in the oversubscribed Series C with the addition of five family offices and one venture group.
PatientBond mission is to leverage Healthcare Consumer Insights and Innovative Technology Solutions to help its clients better navigate the rise of consumerism in healthcare and evolving reimbursement models. PatientBond's highly configurable communications platform leverages a proven psychographic segmentation model and a diverse set of digital workflows to help our clients build a tighter bond with their patients to improve health outcomes, grow their market share and improve patient payment collections. PatientBond is currently used by more than 1,200 healthcare provider locations across the United States. PatientBond is a portfolio company of First Health Capital Partners, LLC. Information about PatientBond is available at www.patientbond.com.