JMI Equity backs CipherHealth

New York City-based CipherHealth, a patient communication, engagement and care coordination software company, has secured an undisclosed amount of funding. The investor was JMI Equity.

PRESS RELEASE

NEW YORK, May 14, 2018– CipherHealth, the leading patient communication, engagement and care coordination software company today announced that it has received a significant strategic growth investment from JMI Equity, a growth equity firm focused on investing in leading software companies.
Since 2009, CipherHealth’s integrated solutions have enabled providers across the care continuum to improve patient communication and care coordination with the latest technologies. With each technology, the company delivers highly configurable and easy-to-use solutions that provide a tailored experience for both staff members and patients.

“We’re excited to partner with JMI and leverage their expertise and industry network to continue to grow and expand,” said Randy Cheung, Co-Founder and Chief Executive Officer of CipherHealth. “JMI has a successful track record of supporting high-growth SaaS companies, and we are thrilled that they are joining us on our journey as we accelerate our growth and deliver the most comprehensive and integrated engagement platform available in healthcare.”

With a focus on patient communication needs from pre-arrival education to follow-up care, CipherHealth helps healthcare organizations achieve Quadruple Aim goals through meaningful patient engagement and care team coordination. As healthcare transitions to value-based reimbursement models, effective communication with patients becomes increasingly important to optimize outcomes and improve operational efficiencies across the care continuum. Health systems that partner with CipherHealth in quality of care initiatives have seen a rate of improvement in patient satisfaction (HCAHPS) that is twice the national average. CipherHealth has customers in forty states and was ranked #1 in the Patient Outreach Category by KLAS in 2017.

“CipherHealth’s solutions are pioneering more effective ways for healthcare providers to engage with their patients, driving improved clinical outcomes and patient experience,” said Matt Emery, General Partner at JMI, who will join the board. “We look forward to partnering with CipherHealth as the team continues to innovate at the forefront of patient-centric care.”

About CipherHealth
Since 2009, CipherHealth has been innovating and delivering products to help care providers effectively and efficiently provide quality care for their patients. By harnessing technology to improve patient outcomes and experiences, CipherHealth and its suite of solutions focus on the evolution of patient care. For more information, visit www.cipherhealth.com.

About JMI Equity
JMI Equity is a growth equity firm focused on investing in leading software companies. Founded in 1992, JMI has invested in over 130 businesses in its target markets, successfully completed over 85 exits, and raised more than $3.0 billion of committed capital. JMI partners with exceptional management teams to help build their companies into industry leaders. For more information, visit www.jmi.com.