- Healthcare practice growth and optimization software-as-a-service company GrowthPlug announced it has raised $1 million in funding
GrowthPlug — a healthcare practice growth and optimization software-as-a-service (SaaS) company — announced that it has raised $1 million in investment from Elevate Capital and its investment syndicate.
The Elevate Inclusive Fund invests exclusively in startup companies founded by women, minorities, and veterans primarily in the Portland, Oregon Metro region. And the investment will fund the Beaverton-based company’s expansion of its operations and support product development.
GrowthPlug is essentially focused on enabling healthcare practices to accelerate new patient acquisition, manage online reputation, and automate front desk operations. And as part of the company’s mission to transform the way healthcare practices acquire, retain, and serve patients, GrowthPlug is helping hundreds of dentists, ophthalmologists, veterinarians, and medical spa practitioners in the U.S. accelerate their growth and effectively manage their patients. Plus the company is growing rapidly and increased revenues by 300% during the past year.
“We’ve been very impressed with GrowthPlug’s innovative and targeted approach to serving a rapidly growing number of customers in the healthcare practice market,” said Nitin Rai, managing director at Elevate Capital — who joined GrowthPlug’s Board of Directors in conjunction with this funding round. “Our investment in GrowthPlug also supports our mission to provide funding to minority entrepreneurs with disruptive ideas and products – one of the co-founders is a woman and both co-founders are entrepreneurs of color.”
GrowthPlug co-founder and CEO Sudhir Bhatti will be using the funding to support the company’s expansion of its operations, product development, and technology roadmap.
“We’re very pleased to have Elevate Capital’s support as GrowthPlug continues to grow to meet the demand of this underserved market which includes more than 300,000 healthcare practitioners who need our products,” added Bhatti. “It’s been rewarding to have our customers tell us that GrowthPlug has been a game-changer for their business growth and ability to enhance their patients’ experience and engagement with their practices. We’re excited about the opportunities ahead.”
GrowthPlug originally launched in Silicon Valley in November 2016 by COO and co-founder Shavita Bhatti. Then GrowthPlug recently relocated to Beaverton, Oregon where the company has set up its headquarters in the City Hall of Beaverton building.
“Beaverton is a great place to work and to live which more and more companies are discovering when they are planning to relocate to the Portland area,” explained Bill Berg, business development manager for the City of Beaverton. “We’re focused on bringing vibrant, inclusive companies like GrowthPlug to our area and embracing them into our community. It’s a win-win situation and we look forward to GrowthPlug having a successful future in Beaverton.”
