December 6, 2023
Thrivable Raises $6 Million to Lead the Patient Experience Data Revolution
Patient experience data provider closes $6M in funding to empower healthcare organizations to easily and quickly capture patient insights that inspire product innovation.
Cleveland, OH, December 6, 2023 — Thrivable announced today that it has closed $6M in funding led by North Coast Ventures to empower healthcare organizations to easily and quickly capture patient insights that inspire product innovation.
“The old way of connecting with and understanding patients is far too cumbersome for today’s rapidly changing markets,” notes Thrivable CEO David Edelman. “At Thrivable, we’re committed to eliminating the friction required to understand patient behavior so healthcare organizations build products that patients want.”
The patient experience data market in the United States is $10 billion and growing rapidly, according to Thrivable’s market analysis.
“Thrivable has attracted an exceptional roster of the world’s largest medtech companies since our initial investment in 2021,” said Todd Federman, Managing Director of North Coast Ventures. “These institutions are fueling their mission-critical business decisions with real-time patient feedback.”
“There is a seismic shift as healthcare companies recognize how the patient voice as a dataset can help them win in the market,” said Ben Trumball, Partner at Tamarind Hill, who joined as a new investor. “We are partnering with Thrivable to hasten the patient experience data revolution.”
The investments from North Coast Ventures, Tamarind Hill, FCA Venture Partners, and JumpStart Ventures will be used to build upon Thrivable’s data monitoring capabilities and product offerings, grow its comprehensive database of consented diabetes patients, and launch into a new era where patient experience data is at the center of every business decision.
About Thrivable
Thrivable, the leading patient experience data provider, helps healthcare organizations deeply understand patient behavior in the market. Built on the largest comprehensive database of consented diabetes patients, we provide the data needed to build better products, gain faster regulatory approval, and develop winning business strategies. To learn more, visit thrivable.app.
About FCA Venture Partners
FCA Venture Partners is a venture capital firm investing in early-stage healthcare technology and technology-enabled healthcare services companies that improve patient care, reduce costs, or increase efficiency. FCA manages over $225 million and invests across the Series Seed to Series B stages. FCA brings portfolio companies valuable healthcare insights, connections, and board-level experience to accelerate growth and build disruptive and sustainable businesses. Based in Nashville, the epicenter of healthcare innovation, and Charlotte, the FCA team has a decades-long track record including more than 60 investments in the rapidly changing healthcare industry.
About JumpStart Ventures
JumpStart Ventures invests in Seed and Series A-stage technology startups throughout Ohio and beyond. Financial returns generated by JumpStart Ventures help strengthen Ohio's VC ecosystem, increasing capital access and resource connections for early-stage companies. As one of Ohio's most active seed-stage investors, the organization's investment activities have generated 2.5X+ returns-to-date via nationally recognized exits. To learn more, visit JumpStart.VC.
About North Coast Ventures
The North Coast Ventures (NCV) invests in early-stage, B2B, software-as-a-service companies via seven seed and acceleration funds, three of which are still actively investing. Composed of over 450 of the region’s leading investors, entrepreneurs, and business executives, NCV is the largest single-chapter investor group in the country. Over the past seventeen years, NCV and its investors have deployed more than $100M into 77 (69 Ohio-based) technology companies. These companies have grown to employ over 2,900 people, raised over $1.3B and generated more than $1.2B in revenue. To learn more, visit northcoast.vc.
About Tamarind Hill
Tamarind Hill is an early-stage venture capital firm focused on backing high-growth technology businesses that are deploying or working towards deploying B2B software models in the Healthcare IT and Logistics sectors. Tamarind Hill seeks investment opportunities in businesses that have found product market fit and can benefit from our operating expertise and network to fully prove out their model and reach a high degree of repeatability.