Sioux Falls, S.D. (May 2, 2013) – DocuTAP, a Sioux Falls, South Dakota-based provider of an integrated EHR (electronic health records) and practice management technology for urgent care providers, announced today it has raised $11.9 million in Series B funding from global venture capital firm Bessemer Venture Partners (BVP). DocuTAP’s existing financial partner, Bluff Point Associates (BPA), also participated in the round. DocuTAP will use the proceeds to increase their market presence, accelerate sales, and bolster their technology in the fast-growing urgent care marketplace. DocuTAP has already experienced tremendous growth over the past twelve months and has tripled its workforce to better support and develop its platform and services.
Founded in 2000, DocuTAP offers EHR and practice management software to digitalize urgent care clinic processes, removing the need for manual paper documentation by administrators, nurses, and physicians. DocuTAP’s distinguishing feature is its easy-to-implement, web-based platform which can be used directly on mobile tablets. Streamlining patient care and physician efficiency, DocuTAP offers customizable templates, automated analytics, and valuable reporting information. DocuTAP also offers convenient revenue cycle services for billing and collections.
“The DocuTAP team and I are excited to welcome Bessemer to the family,” said Eric McDonald, Founder and CEO of DocuTAP. “Bessemer has a proven track record of working with fast growing technology companies that are both innovators and leaders in their respective fields. This funding is a testament to our company’s commitment to client success and passion for delivering innovative healthcare solutions.”
“Urgent care is one of the fastest growing sectors within the healthcare marketplace and we are excited to be investing in DocuTAP, the leading EHR and practice management platforms serving the urgent care market,” said Steve Kraus, partner at Bessemer Venture Partners. “Bessemer’s history of successfully investing in both vertical SaaS solutions and healthcare companies gives us the unique knowledge and expertise to help Eric and the DocuTAP team to continue to build on the platform.”
About DocuTAP
DocuTAP provides urgent care practices with an innovative approach to workflow management. Its flagship product, DocuTAP’s EHR and Practice Management software, fully integrates practice management and electronic health records capabilities in one complete system. DocuTAP software features automated and customizable tools that enhance healthcare providers’ ability to deliver and manage patient care. Our experienced, knowledgeable staff is committed to improving the delivery of high-quality healthcare. For more information, call (877) 697-4696 or visit www.docutap.com.
About Bessemer Venture Partners
With $4.0 billion under management, Bessemer Venture Partners (BVP) is a global venture capital firm with offices in Silicon Valley, Cambridge, Mass., New York, Mumbai, Bangalore and Herzliya, Israel. BVP delivers a broad platform in venture capital spanning industries, geographies, and stages of company growth. From Staples to Skype, VeriSign to Yelp, LinkedIn to Pinterest, BVP has helped incubate and support companies that have anchored significant shifts in the economy. More than 100 BVP-funded companies have gone public on exchanges in North America, Europe and Asia. See www.bvp.com or follow BVP on Twitter: @bessemervp
About Bluff Point Associates
Bluff Point Associates is a private equity firm based in Westport, Connecticut. Bluff Point actively invests in information services companies supporting the banking, trust, securities, retirement and wealth management sectors of the financial services industry, as well as the healthcare information services sector. Bluff Point’s team collectively has decades of experience in recognizing a company’s growth potential and working with its management to reach that potential. For more information, visit www.bluffpt.com/.
