Kaiser backs $75M financing round for Providence digital health spinout

DexCare, a digital patient booking platform spun out of Renton, Wash.-based Providence, raised $75 million in a funding round that saw participation from Kaiser Permanente Ventures.

The company will use the funding to grow its platform. The series C financing round brings the company's total raised to $146 million, according to a June 21 DexCare news release.

DexCare was spun out of Providence in 2021. Since going independent, the company has reached 57 million patients.

Investment firm Iconiq Growth led the funding round.

"We're just emerging from an unpredictable moment in history that cast a spotlight on a strained U.S. healthcare system," DexCare CEO Derek Streat said in the release. "The trauma caused on the frontlines, as health systems rushed to care for their communities, stressed an already high level of provider and nurse burnout. The pandemic taught us that consumers want convenience and choice, and that health systems need controls to manage the supply of care-DexCare delivers both."

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