WebPT said Wednesday that it has received undisclosed funding from Battery Ventures. According to the firm, the capital infusion will be used for growth. Based in Phoenix, WebPT is a provider of electronic medical record solutions for physical, occupational, and speech therapists.
PHOENIX, June 25, 2014 — WebPT, the leading web-based electronic medical record (EMR) solution for rehabilitation therapists, today announced it has received a significant investment from Battery Ventures. WebPT intends to use the new capital to accelerate growth.
Founded by Brad and Heidi Jannenga in 2006, WebPT is the leader in the rehab-EMR industry. The company’s innovative technology has been adopted by more than 35,000 therapists and 6,000 clinics in the US and Canada, and WebPT has consistently increased in revenue, while continuing to gain market share. It was recently named to the Inc. 500 list of the nation’s fastest growing companies.
“Battery Ventures has an outstanding track record investing in growth companies and helping them achieve success. We are thrilled to partner with such an experienced investor as we continue to aggressively grow our business,” said WebPT CEO Paul Winandy. “We’re at the cutting edge of healthcare technology and this infusion of capital will allow us to keep innovating in the physical therapy space.”
WebPT is strategically leading the rehab industry into the digital age, enabling fast, secure, paperless documentation. Having created a sophisticated, industry-specific platform, WebPT is fundamentally changing the way rehab therapists manage the day-to-day operations of their clinics. In addition to offering defensible, compliant and intuitive documentation, the web-based application provides physical therapists, occupational therapists, and speech-language pathologists with intelligent business reporting, interactive and organized scheduling, and integrated billing.
“WebPT is pioneering a new way for rehab therapists to manage their business operations, while saving them time and money,” said Chelsea Stoner, Battery Ventures General Partner, who specializes in investments in software and healthcare technology and is joining the WebPT board. “As the electronic medical records industry is continuing its explosive growth, WebPT, with its advanced technology and innovative leadership team, has carved out a unique position in the market. We look forward to helping the company continue to achieve success and solidify their position as the leader in this sector.”
WebPT founders Brad and Heidi Jannenga will remain in key leadership positions. Heidi, an experienced physical therapist and multi-clinic site director, joined forces with Brad, a seasoned technologist and award-winning entrepreneur, to start the company after recognizing a need for a robust, industry-specific EMR platform. Today, as President and Chief Technology Officer at WebPT, Brad leads all aspects of company’s technology, while Heidi guides the product strategy and oversees the WebPT brand vision as the company’s Chief Operating Officer.
With more than 35,000 members and 6,000 clinics, WebPT is the leading electronic medical record (EMR) solution for physical, occupational, and speech therapists. Headquartered in the historic Warehouse District in downtown Phoenix, WebPT has been recognized for a unique company culture, commitment to success, and explosive growth. In 2013, Inc. Magazine named WebPT one of the nation’s 500 fastest growing privately held companies. To learn more, visit www.WebPT.com and follow the company on Twitter @webpt.
About Battery Ventures
Battery invests in cutting-edge, category-defining businesses in markets including software and services, Web infrastructure, e-commerce, digital media and industrial technologies. Founded in 1983, the firm backs companies at stages ranging from seed to buyout and invests globally from offices in Boston, Silicon Valley and Israel. To learn more, visit www.battery.com and follow the firm on Twitter @BatteryVentures.