Force Therapeutics Announces $21M Investment Led by Insight Venture Partners to Accelerate Growth of its Digital Care Management Platform
NEW YORK, Nov. 7, 2018 /PRNewswire/ -- Force Therapeutics, a leader in episode-based digital care delivery, today announced a $21 million funding round led by Insight Venture Partners, a New York-based venture capital and private equity firm. This financing will fuel Force's rapid product innovation, national expansion across major health systems, and client growth.
Force Therapeutics has fundamentally improved the patient-provider relationship across a full episode of care. Through virtual rehab, digital navigation and outcomes analytics, Force provides a new level of clinical connection, from the time surgery is scheduled through recovery. Patients can access prescribed, phased, video-based education and virtual rehabilitation on any device at the most relevant time. Care teams monitor patients' symptoms and outcomes in real-time and are empowered to respond quickly and appropriately through Force's HIPAA-compliant messaging and patient navigation platform.
"We created Force Therapeutics to give patients tools to recover successfully outside of the healthcare system," said Bronwyn Spira, CEO and Co-founder of Force. "Data from 75,000+ patients that have recovered on the Force platform validates our initial thesis: provider-driven education and information delivered to patients where and when they need it, results in positive functional outcomes, high patient satisfaction, and reduced cost to the health system."
Force Therapeutics transforms the patient recovery experience while simultaneously improving day-to-day workflow for providers. Force seamlessly collects, aggregates, and analyzes quality metrics and outcomes powering high-level decision-making tools for health system executives. Surgeons and their care teams use the platform to standardize care plans and leverage results for research and evidence-based care redesign.
"Force Therapeutics is uniquely positioned as the leading episode-based care delivery platform to enable providers to deliver more cost effective and efficient care to patients," said Deven Parekh, Managing Director at Insight Venture Partners. "We are thrilled to welcome Force Therapeutics into our portfolio and look forward to working together to achieve long-term growth and become a recognized leader in the digital healthcare market."
Force is currently deployed in 60 facilities around the country and powers digital care management at leading health systems, including Geisinger, NYU Langone, Northwell Health, University Hospitals of Cleveland Medical Center, Scripps Health, and Rothman Orthopaedic Institute.
About Force Therapeutics
Force Therapeutics, a leader in episode-based digital care delivery, is working with top health systems to deliver more effective and efficient care to patients through digital navigation, virtual rehabilitation, outcomes collection and analytics. Force has been validated in more than 20 research studies by leading academic medical systems throughout the country.
For more information on Force Therapeutics, visit www.forcetherapeutics.com.
About Insight Venture Partners
Insight Venture Partners is a leading global venture capital and private equity firm investing in high-growth technology and software companies that are driving transformative change in their industries. Founded in 1995, Insight currently has over $20 billion of assets under management and has cumulatively invested in more than 300 companies worldwide. Our mission is to find, fund, and work successfully with visionary executives, providing them with practical, hands-on growth expertise to foster long-term success. Across our people and our portfolio, we encourage a culture around a core belief: growth equals opportunity. For more information on Insight and all its investments, visit insightpartners.com or follow us on Twitter @insightpartners.