Practice Fusion has closed a USD23 million Series B round of financing led by Founders Fund, with participation from Artis Capital Management and Glynn Capital Management, as well as returning investors Morgenthaler Ventures and Felicis Ventures. The round brings the company’s total funding to USD30 million.
"Practice Fusion revolutionises our interactions with the medical community, just as Facebook did for social networking," says Peter Thiel (pictured), managing partner at Founders Fund, founder and former chairman and CEO of PayPal, and the first investor and board member of Facebook. "Practice Fusion advances our health and well-being by bringing the benefits of information technology to medicine: it connects patients to doctors and real-time data, creating life-saving applications that are a total departure from the dominant, often archaic, healthcare paradigm. Practice Fusion represents the future of medicine: healthcare married to the efficiency of information technology."
Founders Fund is a leading Bay Area venture capital firm run by former entrepreneurs from PayPal and Facebook. Practice Fusion joins Founders Fund’s portfolio of radically innovative companies, including Facebook, Halcyon Molecular, Pathway Genomics, Palantir Technologies, and SpaceX.
"We back companies that will radically change the world for the better, and Practice Fusion can do just that," says Thiel.
