InstaMed Raises $17 M For Healthcare Payments

Newport Beach- and Philadelphia-based InstaMed, which operates a healthcare payments network, has raised $2M more in a private placement to accelerate its business, bringing the total raised in its round to $17M. According to the company, the private placement was oversubscribed by $2M. The company said the new funding came from existing and new investors. Names of those investors were not announced. InstaMed said it has over 150 employees. InstaMed says it has more than 11,000 healthcare provider organizations using its payment network. The company's CTo and co-founder, Chris Seib, is located in Newport Beach; the company's other co founder is CEO Bill Marvin. More information »