New Haven-based Inbox Health, a startup focused on patient billing and payments, has raised $1.5 million to help accelerate its sales and marketing efforts, and expand its research and development team.
Connecticut Innovations, the state’s quasi-public venture capital arm, led the investment round, according to an announcement. Also participating were Launch Capital, Enhanced Capital, I2BF Global Ventures, David Sturek (partner at Giganteus PE Management), Mohawk Ventures, and Margaret Ricciardi. CI committed $150,000 from its pre-seed fund to Inbox Health in 2014.
Inbox Health, founded in 2014, is a software for patient billing and payments that the company says is changing how patients pay for care by creating a transparent and convenient check-in and billing process. Software tells patients about insurance coverage and costs before visits, and streamlines patient billing using digital communication methods, including text messages, email and phone, according to a news release.
Inbox Health said it doubled the number of customers using its system last year to more than 200 medical practices and is processing millions of dollars in transactions monthly. The company recently acquired CakeHealth, an insurance data aggregation startup.
