- Medxoom — an Atlanta-based Healthcare Marketplace platform — announced it has raised an additional $8 million in venture capital. These are the details.
Medxoom — an Atlanta-based Healthcare Marketplace platform — announced it has raised an additional $8 million in venture capital from strategic industry investors. And Sean Smith, a healthcare IT veteran and founder of Zelis Healthcare, will join Medxoom’s board.
The funding round was led by Castellan Group with participation by existing investors Las Olas VC and TTV Capital as well as additional participation from healthcare tech and venture communities. And funds will be used to expedite business growth, increase staff and expand platform capabilities.
Medxoom offers its white label platform to plan administrators, payers, and healthcare systems to improve member engagement, care selection, and payments experiences. And Medxoom has become a leading health benefits integration platform for self-insured plans. This latest funding round will drive its payments, financial services and marketplace capabilities to scale.
KEY QUOTES:
“We’re pleased with our progress in the ecosystem; it’s great to be able to help progressive plan leaders and administrators integrate their offerings into a cohesive experience. Our clients want their members to receive a curated marketplace experience focused on quality and cost containment. The era of a functioning Healthcare Marketplace in the US continues to progress; we’re pleased Medxoom’s platform and payments technologies help deliver their needs.”
— Jeff Toewe, Medxoom CEO and Founder
“Medxoom’s solution addresses a major challenge in the US Healthcare market. By closing the loop between selecting a provider service and payment, Medxoom is driving the capabilities of a modern, shoppable market. We look forward to working with the Medxoom team to deliver on its maximum potential.”
— Sean Smith, a Castellan Group founding family member
“We’re pleased that the market has embraced Medxoom. We support the continued positive change Medxoom is making in the health benefits space, creating a functional healthcare marketplace.”
— Dean Hatton, LOVC Founding Partner.
“Medxoom’s progress on new payments models in the healthcare space demonstrates the ecosystem is supportive of new pricing and payment paradigms. We’re excited to continue to support Medxoom’s growth as the team further expands its ability to optimize healthcare consumer and payments experiences.”
— Sean Banks at TTV Capital
