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Avizia Nets $11M Series A Round

2016-07-12
RESTON, VA, Avizia, a leading telehealth solution provider offering the only end-to-end platform, today announced $11 million in funding to support continued innovation across its care coordination platform.
The Series A funding round was led by Blue Heron Capital and joined by Lavrock Ventures, NextGen Venture Partners, Middleland Capital, Waterline Capital, and Blu Ventures.

'Telemedicine adoption is rapidly accelerating as health systems compete to offer more specialized care and reap the benefits of lower costs, improved access, and greater patient satisfaction,' said Blue Heron Capital Partner, Tom Benedetti. 'When we looked to invest in the market, it was clear that Avizia was the right fit for us. Their differentiated software platform offers health systems greater flexibility, more use cases, and superior integration. We see a great deal of value and potential in what Avizia is doing.'

Since being founded in 2013, Avizia has grown rapidly, delivering telehealth solutions to 37 of the top 100 healthcare IDNs in the US, at hundreds of hospitals and clinics, and sales in 36 countries around the world. This funding round will enable the company to further expand its telehealth video collaboration offerings for hospitals and physicians, taking the patient experience into the future.

'Improving patient care is at the heart of everything we do. It's why we founded Avizia and why we go to work every day,' said Avizia CEO and Co-Founder, Mike Baird. 'To deliver on that promise, we're focused on building an end-to-end telehealth platform that enables any provider to see any patient in any place. We are transforming patient care through innovation to improve the patient experience.'

In today's healthcare climate, patients, family members, and caregivers are often dispersed. In dire situations, a lack of coordination can significantly impact a patient's health outcomes. The use of video for consultations and follow-ups is critical in closing this care gap, but only if and when they include the right caregivers and family members. Avizia's current and future solutions represent the next evolution of the patient experience - seamlessly bringing loved ones into important conversations with providers at the point of care.

'We are excited to have partnered with Avizia and have full confidence that Avizia's people and products will continue at the forefront as telemedicine positively impacts the global healthcare industry. Avizia has an undoubtedly bright future ahead,' said Lavrock Ventures General Partner, Stephen Smoot.

In 2016, Avizia was named Northern Virginia Technology Council's Hottest Start-Up and a finalist for EY's Mid-Atlantic Entrepreneur of the Year. To learn more about Avizia, please visit www.avizia.com.

About Avizia
Avizia is redefining healthcare with the only end-to-end telehealth platform that combines industry-leading video devices with software solutions to streamline care coordination, provider collaboration, and patient engagement. With solutions found in 36 countries and 37 of the top 100 hospital networks in the United States, Avizia is enabling continuity of care by connecting any patient to any provider in any place. To learn more, visit www.avizia.com.

About Blue Heron
Blue Heron Capital is an operationally focused lower market private equity firm based in Richmond, Virginia. Blue Heron supports portfolio companies with a team of proven industry experts, including C-level executives and successful entrepreneurs with decades of experience building and managing vibrant businesses. The firm invests in buyout and growth equity opportunities in the healthcare, security, and business services industries. For more information, please visit www.blueheroncap.com.

About LavRock Ventures
Located in the D.C. Metro area, Lavrock Ventures is an early-stage venture capital firm focused on investing in Cybersecurity and Enterprise Software companies. Lavrock partners with innovative, high-growth businesses that are poised to have a profound impact in commercial and/or national security sectors. The firm's approach leverages decades of experience, industry relationships, and operational expertise to foster long-term success alongside technology founders. For more information, please visit www.lavrockvc.com.
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