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Local health care software firm raises $7 million in capital

April 11, 2018

Indianapolis-based Hc1.com Inc., which sells customer-management software to health care enterprises, has raised $7 million in growth capital, the company announced Tuesday.

The funding round was led by private equity firm Health Cloud Capital and included participation from Elevate Ventures, a long-time investor in Hc1.com.

“This investment will enable us to accelerate the development of our health care relationship management solutions, expand our talented team, and continue to gain adoption across progressive organizations that are committed to improving health care through personalized service and proactive engagement,” Brad Bostic, CEO of Hc1.com, said in a statement.

“Elevate Ventures is pleased to expand our investment in Hc1.com. We are confident in the company’s potential and its mission to use technology and machine intelligence to transform, personalize and improve health care,” Chris LaMothe, CEO of Elevate Ventures, said in a statement.

This isn't the company's first big capital round. In October 2015, Hc1.com raised $13.2 million, the company reported. About $8.2 million of that came from existing equity investors, according to company officials. The other $5 million was venture debt provided by Greenwich-based SCM Specialty Finance Opportunities Fund, an affiliate of CNH Finance LP.

In late 2014, the company secured $14 million in funding, according to company officials.

The company, which was founded in 2011 and reported having about 90 employees in 2015, has received accolades from Gartner Research, was named “Best Healthcare CRM” by Frost & Sullivan, and was named top-rated solution in a recent KLAS Healthcare CRM report.

Hc1.com reported having 700 clients in 2015 and now reports having 1,200.

Company officials could not immediately be reached for comment.

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