InstaMed: Another $15 million raised; total now $77 million, according to Crunchbase

Tom Paine

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InstaMed, the Philadelphia-based healthcare payments platform, has raises another $15 million, the company announced yesterday.

I haven't keep count of all their financing events, but Crunchbase (which isn't always completely accurate), puts InstaMed's total raised now at $77.2 million in 15 rounds from 5 investors. As has been the case recently, InstaMed didn't name investors in this round, only to say that existing and new investors were in it. InstaMed says it is supported by a broad investor base, including four funds and four publicly traded companies. Osage Partners and Ashby Point Capital are two of them. Josh Kopelman was an early investor, as an individual. InstaMed only said that it "will deploy the new capital to meet the increasing demands of healthcare consumerism."

InstaMed says it proceesses more than $10 billion in healthcare payments a year. Earlier this year it launched a mobile app, InstaMed Go. Bill Marvin is InstaMed's CEO, and its
executive ranks and investor group have a heavy Penn orientation.

InstaMed calls Philadelphia its headquarters, and has another major office in Newport Beach. There are 108 InstaMed employees on LinkedIn, including 72 in Philadelphia.