Seattle-based health care tech startup DexCare, which spun out of Providence in March, has raised a $50 million Series B round.
The funding, announced Thursday, follows DexCare's $21 million Series A round the company raised when it spun out of Providence. According to DexCare, the company will use the funds to develop its product and recruit employees.
"We have several large health systems now around the country that are customers," said Derek Streat, co-founder and CEO of DexCare. "Because the business is growing so rapidly, we'll continue to hire across the board. Key functional areas for us are, like anybody in our space, product and engineering. We have a heavy data science focus on our team as well."
Streat added that DexCare had about 20 employees when it spun out of Providence but is now approaching 100. In a year, the company aims to have between 150 and 200. About two-thirds of DexCare's employees are based in the Seattle area, Streat said. The company has more than 20 open roles listed on its website.
DexCare works with health systems to make appointments easier to find for patients. The startup puts appointments on mediums like Google, Bing and the health care marketplace Zocdoc. DexCare's technology also matches patients with convenient care options once they have an appointment.
Streat said DexCare currently has office space in Eastlake. Although the company is using a hybrid work model, he added that most of the employees will still be based in Seattle and the company will probably need more space by the end of the year.
Transformation Capital led the Series B round, while Kaiser Permanente, Providence Ventures, Mass General Brigham, Define Ventures, Frist Cressey Ventures and SpringRock Ventures all participated.
“We understand the impact of the DexCare solution to expand access for digitally enabled care in a manner that balances and optimizes demand with provider availability. We are excited to invest in DexCare as we believe it addresses a pressing and persistent need for health systems,” Liz Rockett, managing director at Kaiser Permanente Ventures, said in a news release.
