PocketHealth Closes $33M USD in Series B Funding to Transform Medical Image Sharing and Patient Experience

We are thrilled to announce that PocketHealth has raised $33 million USD in Series B funding! As part of this round, we are pleased to welcome Round13 Capital, Deloitte Ventures and Samsung Next to the PocketHealth family and thank our existing investors — Questa Capital and Radical Ventures — for their continued support.

This is a significant milestone for PocketHealth and is a testament to the progress we’ve made in our mission to transform the way medical images are being shared — giving patients access, control and a deeper understanding of their health records while streamlining the way healthcare providers share imaging. With this funding round, PocketHealth has raised over $55.5 million USD in equity capital to date.

With this investment, we’ll continue to evolve how medical images are being shared, leverage AI to personalize the patient’s care journey, and grow our footprint across the US and Canada.

When we founded PocketHealth in 2016, it was because we recognized that accessing medical imaging records was a critical gap in the healthcare industry. Despite technological advancements, access to healthcare data still remains hindered by legacy image exchanges, creating delays, unnecessary costs and negative patient experiences.

Today, PocketHealth has become the only patient-centric image exchange platform in the industry. We’re empowering more than 1.5 million patients across 775 healthcare provider sites in the US and Canada with instant access to their medical imaging and leveraging AI to create a personalized healthcare experience for each patient. We’re proud to say we have the largest team in North America solely dedicated to medical image exchange.

Building a better patient experience by improving patient access and engagement

In today’s healthcare environment, patients increasingly want to take a proactive role in managing their health. Studies reveal that 68% of patients feel they need better access to their medical information to advocate for themselves effectively.

This is why we’re leveraging industry-leading AI to provide patients with personalized insights and an improved understanding of their health.

In 2022 we introduced Report Reader to explain the complex medical terms found in patients’ reports, improving their understanding of their medical information.

We recently launched Follow-Up Navigator, a tool that intelligently detects follow-up imaging recommendations – encouraging patients to return to their provider for new imaging – and MyCare Navigator, which equips patients with personalized questions to ask their doctor, and preventative health screening tools. As a result, 87% of patients surveyed* say they are more likely to return to the same healthcare provider when they have access to their imaging through PocketHealth.

*2023 PocketHealth Patient Poll

Creating operational efficiencies and savings for healthcare providers

With PocketHealth, providers gain a secure, next-generation platform for easily exchanging diagnostic images with both patients and external providers. Uniquely, PocketHealth customers have the flexibility to instantly share images with anyone, across any network – or set up a local network of PocketHealth Community Gateways for automated image exchange. This ensures that records get where they need to, instead of relying on a CD-ROM, return visits to the hospital or a broken portal experience, which disrupts the patient’s care journey.

For 20 years, medical image exchange has meant moving files across a closed network, from point A to point B. We’re now seeing some of the largest health systems in North America expecting more from their image exchange, and adopting PocketHealth to drive patient retention.

Our PocketHealth connected sites have seen improved patient experience, operational efficiencies and cost savings.

Colorado’s Valley View Hospital reduced non-labor costs associated with burning CDs by 95% and enabled patient and staff image sharing with out-of-network providers.

Toronto’s Unity Health gained more than $120,000 in annual savings and closed their imaging library.

Our story

The idea for PocketHealth emerged from a personal experience when Harsh injured himself and received medical imaging on a CD-ROM while working in Silicon Valley – the epicenter of technology. Upon his return home to Toronto, we co-founded PocketHealth, with the goal of making medical imaging and records accessible to patients.

Over our eight-year journey, we’ve secured contracts with major health systems and outpatient imaging chains across North America including University Health Network, Southern Illinois Healthcare, UofL Health, Universal Health Services, Radiology Partners, Raleigh Radiology and more.

Most of all, we are incredibly grateful for the dedication and commitment of each member of the PocketHealth team, all of whom have contributed significantly to the company’s success. They have all been instrumental in reaching this significant milestone and in shaping PocketHealth into what it is today.

As we continue to grow, please visit our careers page to explore current opportunities.