On Thursday, on-demand patient ride booking company Roundtrip said it had raised a “strategic investment” round of fundraising from a mix of existing and new investors.
The Callowhill-based company makes software that connects ride requests to a group of transportation companies. It’s aimed at transporting patients to non-emergent healthcare appointments via the likes of medical cars, wheelchair vans, stretcher vehicles and ambulances.
CEO Mark Switaj told Technical.ly the company is keeping the size of the raise confidential, for now. It previously raised $10.5 million, including a $5.1 million Series A in 2019, and a $4 million strategic capital raise last year.
This round was led by existing investor Motley Fool Ventures, the company said, with additional follow-on from ZOLL Medical Corporation, Grays Ferry Capital and University Hospitals Ventures. New investors Early Light Ventures, Gaingels & Sapien Capital, the Global Opportunity Philadelphia Fund (GO Philly Fund), Provco Ventures, HCN Ventures and Nightingale Partners LLC also participated.
The broad plans for this round include scaling Roundtrip’s tech infrastructure, developing new integrations with other healthcare tech platforms like electronic health records, enhancing its reporting and data analytics, and strengthening its healthcare research capabilities (it won a Small Business Innovation Research Grant in 2020).
Roundtrip currently has customers in 24 states, and expects that numbers to increase shortly, Swaitaj said. The team is anticipating new customers from the new Medicare Advantage health plans that offer transportation as a supplemental benefit to their members, new health system customers and new outpatient care customers, the CEO said. Earlier this year, Roundtrip also became the exclusive transportation provider for the American Cancer Society for its free rides for patients program.
The Roundtrip team, based out of an office on 5th street near Callowhill, is currently at 43 people. They plan to make a few hires in the coming months in client-facing roles like regional sales associates, account management and client services. Check out its open roles.
“We invest in smart, thoughtful founders with a true commitment in their ideas,” said Harris Schwartzberg, chairman and founder of HCN Ventures, in a statement. “Roundtrip’s passion for reliable transportation paired with our market expertise will be critical for the future of the non-emergency medical transportation industry.”-30-