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BetaKit: PocketHealth Secures $20M to Put Medical Records in Patients’ Pockets

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BetaKit spoke with PocketHealth co-founder and CEO Rishi Nayyar about the company’s $20M CAD Series A funding round.

An excerpt:

Since closing its first round of venture financing in 2020, PocketHealth has grown the user base of its medical imaging storage and sharing solution from 150,000 to over 600,000 patients—the majority of which are based in Canada—and increased its revenue run rate sevenfold.

Now, armed with $20 million CAD ($16 million USD) in Series A financing led by healthcare-focused, US-based investor Questa Capital and supported by existing Toronto investor Radical Ventures, PocketHealth plans to scale up its US expansion efforts. The startup also sees an opportunity to move beyond just facilitating access to medical imaging and into helping its users understand them.

“We started off with a pretty simple idea, which is that medical imaging is the spark to every healthcare journey in North America,” said Rishi Nayyar. “It’s what diagnoses you, and what’s so unsettling and what stuck out to us so much was that getting access to that critical information was just so difficult.”

Read the full article here.