Two Tampa firms participated in Miami-based HealthSnap's $25 million Series B funding round this week.
Tampa's hybrid investment firm Florida Funders and Tampa General Hospital's investment arm TGH Ventures participated in the healthtech startup's fundraising. The raise brought HealthSnap's total funding to $48.5 million. Both Tampa organizations invested in previous rounds.
Florida Funders has invested in HealthSnap six times and formally announced its second investment of $1.4 million in 2020, Ryan Whittemore, the chief investment officer of Florida Funders, said in a statement.
The firm has watched HealthSnap scale its platform, grow its customer base, increase its revenue run rate by more than 500% and execute acquisitions for more than three years, Whittemore said.
"We see a large opportunity ahead and believe this team will execute," he said in the statement.
TGH Ventures first invested in HealthSnap in 2023, participating in a $9 million raise. The investment followed the hospital's goal of improving patient care, according to Tampa Bay Business Journal reporting.
The hospital has been using the platform for more than a year and has decided to expand its partnership and investment. The future of health care connects to remote monitoring like HealthSnap, said Rachel Feinman, vice president of innovation and venture at Tampa General Hospital.
"What HealthSnap helps us to do — by leveraging technology and remote monitoring as well as the support of their care navigators — is to create really longitudinal care, particularly for our patients with chronic diseases, so it's an extension of the care that we can provide for those patients," Feinman said.
