InstaMed raises another $14 million

Tom Paine

InstaMed, the heavily UPenn connected (I mean its management & investors, not the school) healthcare payments processing platform based in Philadelphia, has just announced it has raised another $14 million. The press release did not name any investors, but only said that "the new capital included funding from five funds, including one new fund, and angels" and that more than 90% of previous investors participated.

This will bring the total investment in InstaMed to at least $36 million, according to my figures. It last reported a $5.5 million raise late last year. Investors have included Osage Partners, NJTC Venture Fund, US Bancorp, and Ashby Point Capital. Josh Kopelman was an early investor through his personal Midas Capital fund. See my brief writeup on InstaMed from last year.

InstaMed recently said it had surpassed $30 billion in Healthcare Payments Processed, and projects that it will process $20 billion in 2012 alone.


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