Funding will drive product development, strategic account management, and market expansion

Press Release – November 19, 2024 – PITTSBURGH – ThoroughCare, a leader in care coordination solutions, has successfully closed its $5 million Series A funding round, led by Empactful Capital. This investment will support ThoroughCare’s continued focus on product development, strategic account management, and expansion into new markets. The funding marks a major milestone for the company as it continues its mission to simplify patient care through innovative, workflow-integrated digital solutions.

“With Empactful Capital’s support, we’re well-positioned to continue innovating and delivering solutions that empower providers to improve patient outcomes while simplifying the challenges of care management in a highly complex industry.” Post this

ThoroughCare’s platform is designed to address the inefficiencies and fragmentation in patient care, which can result in inconsistent patient engagement, poor outcomes, and revenue loss. The company’s purpose-built solution offers support to a wide range of healthcare organizations—from independent practices to accountable care organizations, health systems, and health plans—helping manage medical, behavioral, and social elements of care delivery. ThoroughCare’s NCQA-accredited platform delivers a unified approach to care management that benefits patients and providers alike.

“This investment will enable us to enhance our product offerings and accelerate growth across new and existing markets,” said Earl Hutz, COO of ThoroughCare. “With Empactful Capital’s support, we’re well-positioned to continue innovating and delivering solutions that empower providers to improve patient outcomes while simplifying the challenges of care management in a highly complex industry.”

Empactful Capital, a venture firm specializing in healthcare innovation, saw ThoroughCare’s unique value proposition as a key driver for their investment. ThoroughCare’s multi-tenant platform offers scalable solutions for healthcare organizations of any size and extends beyond a single entity to serve large networks.

“ThoroughCare’s platform represents a strong solution for addressing the complexities of care management across diverse healthcare networks,” said Sal DeTrane, Managing Partner of Empactful Capital. “Their proven track record, combined with the ability to drive meaningful improvements in patient outcomes and operational efficiency, aligns with our investment focus on transformative healthcare solutions.”

About ThoroughCare

Founded in 2013, ThoroughCare provides digital care coordination solutions to approximately 700 care delivery organizations throughout the United States. ThoroughCare’s solution enables seamless care across the healthcare continuum; treating the whole person and healing the whole population, by driving personalized health experiences, streamlining value-based care delivery, and identifying the next best actions at critical moments. Learn more at: www.thoroughcare.net.

About Empactful Capital

Empactful Capital is a venture capital firm founded in 2016 dedicated to supporting companies that create lasting value in healthcare. The firm invests in early- and growth-stage companies, enabling value-based care and behavioral health. For more information, visit www.empactfulcapital.com.

Note to editors: For more information, news and perspectives from ThoroughCare, journalists and analysts may call 844-842-6422. Web links, telephone numbers and titles were correct at time of publication but may have changed.

Contacts

Vivek Subramany – Vice President, Marketing
844-842-6422
[email protected]

Source : Businesswire