Practice Better has secured a $13 million growth capital facility from CIBC Innovation Banking. The investment is expected to help the Toronto-based company accelerate product development and bring its software solutions for health and wellness practices to new markets.
Practice Better’s comprehensive EHR, or electronic health record, system offers tools for practice management and client engagement. Its features simplify billing processes, let providers set custom appointment availability, enable secure messaging with clients and facilitate HIPAA-compliant telehealth appointments. The company plans to use the growth capital to expand its software’s artificial intelligence capabilities as well as boost its sales and marketing efforts, according to a statement.
“Since day one, our goal has always been to support practitioners and their clients by providing them with the tools they need for long-term success, and this partnership with CIBC Innovation Banking will allow us to accelerate that mission. We’re excited to continue to solve real problems for our practitioners by expanding our platform and continuing to empower practitioners to run more efficient and successful practices,” Practice Better Co-Founder Nathalie Garcia said in a statement.
