Voalte Raises $17 Million Series D To Expand Provider Communications Platform

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Sarasota, Fla.-based provider communications startup Voalte closes a $17 million Series D funding round raised from Ascension Ventures, Cerner Capital (the investment arm of Cerner) and Bedford Funding. The new funding is Voalte’s first since its February 2014 Series C, and brings its total raised to $55 million since its 2008 launch. Voalte had a compelling story to tell VC firms during its most recent fundraising campaign, coming off a year with a 250 percent year-over-year growth rate and having added 44 new hospitals to its customer base in the last quarter alone. For an eight year-old startup, Voalte has managed to grow both its employee count and its customer base without over-utilizing VC investments.

Voalte has been working to solve provider communications problems since its launch. While technology has moved the general public from pagers and fax machines to text messages and emails, physicians have been forced to remain on antiquated communications tools due largely to data security concerns with exchanging patient information over more modern platforms. As the adage goes, it used to be just doctors and drug dealers that still used pagers, but now its just doctors.

To bring providers onto modern communication platforms, Voalte has built a platform of communications apps that it pre-loads on a smartphone and then rolls out across its customer’s facilities. The communications app is designed to connect physicians, working in either the hospital or the practice, with the nurses, pharmacists, paramedics, and technicians delivering care to patients. The app allows users to text each other, and share pictures and other personal health information in a HIPAA-compliant format. Rather than compromising security with BYOD units, the phones are owned by the hospital and are remotely controlled by Voalte’s central management platform. This allows hospitals to assign phones to units rather than individual clinicians, and then configure preferences and settings based on individual user login credentials. It also allows hospitals to roll out and support other healthcare apps on the devices.

Now, with strong momentum behind its product, Voalte reports that it will use its new funding to sustain its triple-digit growth rate and push pagers out of healthcare once and for all.


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