- Elevate Capital and its investment syndicate fund innovative software startup focused on helping healthcare practices accelerate business performance and patient growth
GrowthPlug, a healthcare practice growth and optimization software-as-a-service (SaaS) company, announced that it has secured a $1 million investment commitment from Elevate Capital and its investment syndicate. Elevate Capital’s Elevate Inclusive Fund invests exclusively in startup companies founded by women, minorities and veterans primarily in the Portland, Oregon Metro region. The investment will fund the Beaverton-based company’s expansion of its operations and support product development.
GrowthPlug is focused on enabling healthcare practices to accelerate new patient acquisition, manage online reputation, and automate front desk operations. As a part of the company’s mission to transform the way healthcare practices acquire, retain, and serve patients, GrowthPlug is helping hundreds of dentists, ophthalmologists, veterinarians, and medical spa practitioners across the U.S. accelerate their growth and effectively manage their patients. The company is growing rapidly and increased revenues by 300 percent during the past year.
“We’ve been very impressed with GrowthPlug’s innovative and targeted approach to serving a rapidly growing number of customers in the healthcare practice market,” said Nitin Rai, managing director at Portland-based Elevate Capital who has joined GrowthPlug’s Board of Directors. “Our investment in GrowthPlug also supports our mission to provide funding to minority entrepreneurs with disruptive ideas and products – one of the co-founders is a woman and both co-founders are entrepreneurs of color.”
According to Sudhir Bhatti, CEO and co-founder of GrowthPlug, this funding will be used to support the company’s expansion of its operations, product development, and technology roadmap. “We’re very pleased to have Elevate Capital’s support as GrowthPlug continues to grow to meet the demand of this underserved market which includes more than 300,000 healthcare practitioners who need our products,” said Bhatti. “It’s been rewarding to have our customers tell us that GrowthPlug has been a game changer for their business growth and ability to enhance their patients’ experience and engagement with their practices. We’re excited about the opportunities ahead.”
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GrowthPlug was originally founded in Silicon Valley in November 2016 by Shavita Bhatti, chief operating officer and co-founder of GrowthPlug. GrowthPlug recently relocated to Beaverton, Oregon, where the company has set up its headquarters in the City Hall of Beaverton building.
“Beaverton is a great place to work and to live which more and more companies are discovering when they are planning to relocate to the Portland area,” said Bill Berg, business development manager for the City of Beaverton. “We’re focused on bringing vibrant, inclusive companies like GrowthPlug to our area and embracing them into our community. It’s a win-win situation and we look forward to GrowthPlug having a successful future in Beaverton.”
Source: BioSpace
