Clearwave, a SaaS platforms in digital patient engagement, has secured a strategic growth investment from Great Hill Partners, a private equity firm that invests in high-growth, disruptive companies.
Great Hill’s investment will accelerate Clearwave’s go-to-market capabilities and product innovation, and will enable the company to enhance growth through hiring, continued R&D investment and strategic M&A to expedite its product roadmap – all in order to better serve Clearwave’s fast-growing list of healthcare provider clients. Frontier Growth will remain a significant investor in Clearwave.
“As an early innovator in digital patient intake solutions we’re proud of our industry-leading customer traction and growth to-date in the large and rapidly growing patient engagement market,” says Mike Lamb, CEO of Clearwave. “Today’s milestone is a testament to how we have taken patient engagement to the next level and we’re confident that Great Hill will be an invaluable partner as we leverage their deep industry expertise to further unlock the potential of our platform and accelerate our mission to simplify healthcare delivery while enhancing the patient experience.”
“Clearwave is a clear leader driving unparalleled value for providers and patients through seamless interactions and ease of access to healthcare,” says Rafael Cofiño, Managing Director at Great Hill. “The Company has tremendous potential to capitalise on the opportunities ahead amid significant tailwinds in the patient-engagement space, and we look forward to helping strengthen its position at the forefront of consumer-focused healthcare. Healthcare continues to be a strategic area of focus for Great Hill and this transaction further builds on our strong track record of partnering with innovative companies in the space.”
“Clearwave’s comprehensive patient access platform is accelerating a major trend in healthcare: providing a more consumer-friendly approach to engaging patients,” says Andrew Lindner, co-founder and Managing Partner at Frontier Growth. “We look forward to partnering with Great Hill as we navigate the next chapter of growth and success at Clearwave.”
As part of the transaction, Mark Taber, Rafael Cofiño, and Sam Conte of Great Hill will join the Clearwave Board of Directors. In addition to Clearwave, Great Hill’s portfolio of healthcare companies includes IVX Health, Labor First, ParetoHealth, Quantum Health, RxBenefits, and Vatica Health. Prior healthcare investments include bSwift, Passport Health Communications, PlanSource, PartSource, Qualifacts, and SterilMed.
William Blair & Company served as financial advisor to Clearwave and Goodwin Procter LLP served as legal advisor to Great Hill.