ChartSpan Closes $16,000,000 Round of Venture Capital

(Greenville, South Carolina) –   ChartSpan Medical Technologies, Inc. has closed a $16,000,000 round of venture capital funding. The capital will be used to grow ChartSpan’s footprint past the Appalachian region, which in turn creates hundreds of new healthcare jobs in the Upstate region of South Carolina.

ChartSpan provides patient care coordination services to health systems and ambulatory practices throughout the U.S. As reimbursements for doctors change from volume- to value-based, healthcare providers use ChartSpan’s turn-key managed service platform to provide out-of-office healthcare services to their patients. ChartSpan helps improve outcomes for chronically ill patients and delivers significant new revenue for physicians.    

The venture round was led by Cypress Growth Capital and included existing investors.  

“ChartSpan offers compelling value to physicians and patients alike,” remarked Ed Mello, Managing Director of Cypress Growth Capital. “The combination of attentive, responsive service and easy-to-use technology that does not disrupt the practice’s established workflow explains why ChartSpan is one of the fastest growing companies in its market. They have truly set themselves apart.”

ChartSpan has created more than 200 jobs in the past 15 months. With today’s funding announcement, the company expects to create 300 additional jobs in the next 18 months.  Most of ChartSpan’s 500 jobs will include nurses and certified healthcare clinicians, such as Medical Assistants, Licensed Practical Nurses or Certified Nursing Assistants.  ChartSpan will be holding a hiring event for said clinicians on June 23, 2017 from 7:00 A.M. to 3:00 P.M. at its headquarters at 2 North Main Street.

With headquarters occupying nearly 100,000 square feet of office space at 2 North Main in downtown Greenville, today’s announcement makes ChartSpan one of the largest employers in the downtown area.  

ChartSpan came to the Upstate as one of ten (10) companies accepted to the Iron Yard Ventures Healthcare Accelerator Program in 2013, sponsored by the Mayo Clinic. Upon exiting the accelerator program, the company located in Greenville and began scaling with the assistance of NEXT, the Greenville Chamber’s entrepreneur support program, and the Greenville Area Development Corporation.

“ChartSpan represents what can happen when public-private investments are made in South Carolina’s technology start-up ecosystem,” said Peter Barth, NEXT Board Chair and The Iron Yard Founder & CEO. “The major capital investment announced today indicates the momentum the company has in the healthcare marketplace and the impact they are making in South Carolina as they move toward 500 jobs in downtown Greenville.”

“This capital round helps us grow our national footprint,” said CEO and company co-founder, Jon-Michial Carter. “We currently have a stronghold throughout the Appalachian region. We plan to use these funds to deploy a national sales force and create hundreds of new clinical and technology jobs at our headquarters in Greenville.”

ChartSpan was founded by brothers, Patrick and Jon-Michial Carter.  Patrick is ChartSpan’s Chief Medical Officer and a 20-year practicing clinician.  Jon-Michial is ChartSpan’s Chief Executive Officer and formerly served in executive roles for technology companies such as Iconixx and nGenera.  

“It’s extremely satisfying to partner with Cypress in raising this $16,000,000 round,” said Patrick Carter. “Their belief in our mission ensures our ability to provide critical chronic care management services to hundreds of thousands of patients across the United States.”

“The ongoing success of ChartSpan speaks volumes about the state of industry in South Carolina,” said Governor Henry McMaster. “Businesses of all kinds are thriving here, and we’re excited about the future of ChartSpan in our state.”

ABOUT CHARTSPAN

ChartSpan helps doctors manage compliance and care coordination programs.

ChartSpan delivers turn-key patient engagement solutions to medical providers by maximizing reimbursements, improving care coordination and ensuring Merit-Based Incentive Payment System (MIPS) and Advanced Payment Model (APM) compliance.

ChartSpan is the choice of medical providers who are tired of buying expensive and ineffective software and demand a more personalized and accountable relationship with their patients. By delighting patients with interoperable and patient-designed technologies, ChartSpan delivers the highest patient engagement rates in healthcare.

ChartSpan is proud to have been named one of the Top 10 Most Innovative Companies in America.