I am pleased to announce our $3.8M Series A funding led by healthcare experts at SpringTide Investments, who recognized Wellsheet’s customer traction around our Electronic Health Record (EHR) transformation platform, and were joined by BioAdvance and Newark Venture Partners in this round. We had previously raised $2.2M from angels and seed-stage funds, including Newark Venture Partners and Real Life Innovations, who led our first seed round in 2017. Funds raised to date total $6M. Wellsheet is generating recurring subscription revenue through a Software as a Service (SaaS) model serving health systems and counts over 40 hospitals among our health system customers.
In addition to transforming the EHR experience, Wellsheet is also helping health systems enable COVID-19 related workflows. The new funds will be used for expanding our engineering and go-to-market teams and extending the Wellsheet platform to enable cross-platform offerings that provide seamless information access between hospitals on different EHR platforms. We will also support health systems as they transition to new care models.
I am also thrilled to announce the addition of healthcare executives, Dr. John Glaser and Dr. Georgia Papathomas to Wellsheet’s Board of Directors. Both have held CIO positions and bring a wealth of experience in healthcare and pharmaceutical innovation, and will be tremendous assets to our team.
Georgia Papathomas, PhD, has more than 40 years of experience in the technology and healthcare industries. Dr. Papathomas was senior vice president and global head of data sciences at Johnson& Johnson, CIO of Janssen Pharmaceuticals, CIO of Boehringer Ingelheim and CTO of EMEA at Pfizer Pharmaceuticals and is an advisor at SpringTide Investments.
“I am very happy to join the Wellsheet team to help healthcare providers realize the vision of long-promised capabilities to improve the physician experience with EHRs, and improve patient care using intuitive AI-based platforms. Giving physicians back time to practice medicine is critical to the well-being of our clinicians, patients and healthcare systems.”
John Glaser, PhD, led major healthcare transformations aimed at improving the quality of patient care as CIO of Partners Healthcare and CIO of Brigham and Women’s Hospital. He was also CEO of Siemens Health Services and Executive Senior Advisor at Cerner.
“Wellsheet is integrated directly into the EHR and delivers a thoughtful redesign of workflows designed with doctors in mind to ensure that each clinician is able to quickly and easily extract customized, actionable patient data, receive immediate alerts, and make quality-based treatment decisions” said Dr. John Glaser “The response from clinicians to Wellsheet is game-changing as the need to reduce the EHR burden on physicians has become a top priority for healthcare providers.”
This funding is external validation for the critical need to prioritize physician well-being and this milestone represents a crucial step in expanding Wellsheet to a broader market. Wellsheet is transforming the current EHR landscape and we are excited to give precious time back to physicians so they can focus on patient care.