PayZen Raises $232M in Series B Funding for Healthcare Fintech Solutions
PayZen is a pioneering healthcare fintech firm that addresses the crucial issue of patient payment responsibilities through cutting-edge technological solutions, ensuring that healthcare remains accessible and affordable for patients across various demographics.
Company Name: PayZen
Location: San Francisco, CA
Sector: Fintech, Healthcare
Funding Details: Raised $232 million in Series B funding led by NEA, with participation from 7wireVentures, SignalFire, Viola Ventures, and other existing investors.
Purpose of Investment: To fuel growth and accelerate market expansion.
Leadership: Led by CEO Itzik Cohen, PayZen is committed to transforming healthcare affordability with innovative financial technology.
Product and Innovation: PayZen utilizes advanced AI and machine learning models, automation, and seamless integration with EMR/EHR systems to enhance the patient payment experience. This technology-driven approach helps healthcare providers streamline operations and offers patients more accessible and affordable care options.
Company Growth: In the past two years, PayZen has seen a remarkable 6x year-over-year growth, underlining its effectiveness and market need. The company maintains a 100% customer retention rate and has achieved 132% net retention, demonstrating strong customer satisfaction and expanded use of its services.
About the Company: PayZen is a pioneering healthcare fintech firm that addresses the crucial issue of patient payment responsibilities through cutting-edge technological solutions, ensuring that healthcare remains accessible and affordable for patients across various demographics.