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Indianapolis-based GeoH Inc., a fast-growing health-tech company, has secured a more than $30 million investment which the company says will help it expand into new services and geographies.
The investment comes from Nashville, Tennessee-based Council Capital and affiliates. Council is a private equity firm that focuses on high-growth health care companies. The deal closed on Aug. 20.
Launched in 2017, GeoH offers a software platform that home care agencies can use for things like billing, staff scheduling, payroll and analytics. The company also offers billing services and other resources to help clients run their business.
GeoH currently has about 80 employees—double the number it had in the summer of 2024—and it has doubled its revenue each of the past three years.
“We’re a super high-growth company,” said GeoH CEO Tom Bumgardner. Bumgardner declined to share specific revenue figures.
“We have been extremely impressed with GeoH and its ability to support home care agencies by simplifying billing and regulatory compliance and ensuring they capture every dollar they’ve earned,” Council Partner Kevin Fahey said in a written statement.
Bumgardner said Council is an ideal growth partner because of its experience in the health care industry.
Bumgardner said the home health industry is grappling with numerous challenges right now including regulatory changes, shifts in the payor landscape and increased scrutiny of Medicaid.
“Those things are very confusing,” Bumgardner said. “It’s hard for home care agencies to find information.”
This environment provides an opportunity for a company like GeoH, whose software and services aim to help providers navigate a changing landscape.
The investment from Council will help GeoH expand in a couple of ways, Bumgardner said.
Until now, GeoH has focused on the home care industry—providers that visit clients at home to help with non-medical needs like housekeeping and personal care. Within the next several weeks, Bumgardner said, the company will launch a home health division. Home health care providers visit clients at home for medical services such as wound care or physical therapy.
Bumgardner said GeoH also plans to expand its geographic service footprint, which is currently focused on Indiana, Georgia and Ohio. The company will first expand to another handful of states, with the eventual goal of serving clients nationwide.
Because GeoH’s clients are Medicaid providers and because Medicaid rules vary from state to state, Bumgardner said, GeoH needs to have state-specific expertise so it can best help its clients. For that reason, the company is being deliberate about how quickly it expands its geographic service area.
“If we try to go too many places too quickly, we’re going to spread ourselves too thin,” Bumgardner said.
Including Council’s investment, GeoH has raised $35.8 million total since its founding.
The company previously raised a $3-million-plus round in 2024 led by Indianapolis-based Boomerang Ventures, with participation from Indianapolis-based VisionTech Partners; Champaign, Illinois-based First Leaf Capital; Washignton, D.C.-based Digital Health Venture Partners and individual investors.
GeoH also raised $2 million in 2022.
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