PayZen reposted this
Today, I’m incredibly proud to announce a major milestone for PayZen: we’ve just closed a $232 million Series B round in equity and debt, led by New Enterprise Associates (NEA). This round includes $32 million in equity and a new $200 million credit warehouse from Viola Credit and a syndicate of insurance companies. I’m thrilled to welcome Mohamad Makhzoumi, NEA’s Co-CEO, as a PayZen board member! Partnering with the right investor at each stage of our company’s growth is both an art and a science (with a bit of luck thrown in). We were fortunate to find strong alignment with the NEA team in terms of business philosophy, mission, market, and strategy. With their extensive experience and stellar track record, I look forward to collaborating with the NEA team as we guide PayZen into the future. This funding will enable us to continue leveraging our AI-powered platform to tackle healthcare affordability. Our proprietary AI/ML models and seamless EMR/EHR integration simplify patient payments for health systems while making it easier for millions of patients to access and afford the care they need. We’re committed to driving innovation in the Revenue Cycle Management market and are excited to expand our affordable, customized healthcare payment options to even more Americans. This partnership with NEA brings back memories. Twenty-five years ago, I fondly recall pitching Webex Communications to NEA alongside my then CEO and mentor, Subrah. That investment certainly worked out for everyone! Time seems to fly, but it’s comforting to know that some things remain constant. I want to thank all the investors and individuals that supported us along the way (Viola Ventures, Omry Ben David, SignalFire, Chris Scoggins, 7wireVentures, Lee Shapiro, Alyssa Jaffee, Ido Vigdor). Mostly, I want to thank my team for raising the bar every day, creating magic and making all of this possible. #healthcare, #fintech, #affordability, #RCM,