SAN FRANCISCO, July 14, 2022 /PRNewswire/ — Canvas Medical, the EMR that empowers clinicians and developers to power the future of care delivery, has raised $24M in Series B funding led by M13 with participation from Haystack and previous investors Inspired Capital, IA Ventures, Upfront Ventures, and Iron Grey. Canvas provides a comprehensive ambulatory EMR and digital health development platform, enabling established and start-up healthcare providers to launch new patient experiences and business models faster.
In addition to this funding, Canvas has achieved federal certification through the Office of the National Health Information Technology Coordinator (ONC). ONC certification represents a major product milestone for the company: Canvas is one of the first EMRs in United States to support a standardized patient data API, as required by the 21st Century Cures Act. Additionally, with this certification, Canvas customers are now eligible for value-based payment models in Medicare and Medicaid, as well as many commercial value-based programs..
Founded in 2015, Canvas is reinventing the EMR for the future of healthcare. Customers include care delivery companies like a mental health startup that uses Canvas to create personalized clinical journeys, support telehealth planning and mapping, and foster care team collaboration with their patient app); and a primary care provider for adults 65+ who uses Canvas to integrate clinical workflows at the point of care and allows patients to communicate with providers through Canvas APIs. The Canvas product suite is highly customizable by developers, transparent to providers, and gives care delivery companies complete control over their patient experience.
“The healthcare industry is at an inflection point: software developers are now de facto members of the care team of major healthcare delivery companies. With new entrants hitting the market daily and players who invest in innovation, Canvas is a premier platform partner for the full spectrum of those building new models of care,” says Andrew Hines, Founder and CEO of Canvas Medical. “It is inspiring to see in each of our client organizations how their clinicians and developers are working together in Canvas to build and refine the best possible model of care for the patients they serve.”
“We are excited to lead Canvas Medical’s Series B,” says Latif Peracha of M13. “Canvas serves digital care delivery companies and fosters developer-caregiver collaboration to design and implement better care models for patients. Canvas is building the enabling infrastructure to power the entire healthcare market digital, and we believe they will win by driving competition between services and applications that touch the end patient.Canvas’ ONC certification is a significant milestone that sets Canvas apart from other modern EMRs and speaks to the maturity of their product.
“Canvas allowed us to get our care delivery operations up and running much faster and with far fewer resources than we could have done with any other EMR,” said Chris Hogfounder and CEO of Marley Medical, a virtual primary care clinic. “As a provider of care for patients with complex chronic conditions, including patients on Medicare, the Canvas team’s commitment to achieving ONC certification was a critical part of our decision to work together.”
Since launching its suite of self-service developer tools last fall, Canvas has seen more than 300% growth in customer accounts. With this funding, Canvas will continue to invest in bringing additional enterprise capabilities to market, including security and governance features that put Canvas at the forefront of extensibility and interoperability.
About Canvas Medical
Canvas Medical, founded in 2015, provides digital infrastructure for healthcare delivery companies. Its offerings include an ONC-certified EMR with intuitive care coordination and management workflows, an FHIR API and workflow SDK that provide industry-leading platform extensibility and end-to-end RCM functionality. The company works with clients across all care models and verticals, from direct-to-consumer virtual care to complex risk care and everything in between. For more information about Canvas Medical, visit canvasmedical.com.
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SOURCE Medical Canvas