Luma Health Raises $130 Million in Series C Funding to Unify, Automate, and Transform Patients' Healthcare Journeys
Funding Led by FTV Capital Follows Luma Health's Explosive Growth, Doubling Year Over Year Since Founding
SAN FRANCISCO, November 23, 2021-- Luma Health, the leading patient engagement platform, today announced a $130 million Series C funding round led by FTV Capital, a sector-focused growth equity investment firm, with participation from existing investors. This latest round brings Luma Health's total funding raised to $160 million. The announcement follows 2x growth year over year since Luma Health's founding in 2015 and nearly 900% three-year growth, garnering recognition as one of the Inc. 5000 Fastest-Growing Private Companies. Luma Health is on track to connect nearly a quarter of all Americans to care in 2022 and scale internationally.
"In the tight-knit community of enterprise healthcare, word of Luma Health has gotten out," said Adnan Iqbal, Luma Health's co-founder and CEO. "With this investment, we will continue to meet the demands of leading healthcare delivery systems nationwide and deliver on our promise to our customers: helping transform the complexities of healthcare into convenient, seamless experiences for their patients."
Luma Health is the most comprehensive platform available to unify and automate the patient healthcare journey. It is currently used by more than 550 health systems, hospitals, federally qualified health centers (FQHCs), and clinic networks nationwide. The platform integrates with more than 80 electronic health records (EHRs) and leading vendors across the healthcare IT stack to centralize and automate scheduling and communication with patients. Luma Health's customers use its 25+ out-of-the-box, customizable solutions and its scalable integration platform to create bespoke patient experiences.
"A partnership with Luma Health was the only choice for FTV," said Alex Mason, partner at FTV Capital. "As deeply sector-focused investors with a rich history in healthcare technology, we've spent significant effort evaluating the entire patient engagement landscape in search of a solution that can truly transform the patient journey from one that's fragmented and disconnected to one that's unified and seamless. The first-rate feedback we heard from Luma Health customers and the depth and breadth of its platform and vision made it clear that Luma Health is the future of patient engagement."
Luma Health has enabled digital transformation initiatives to meet new patient expectations at health systems nationwide, including Montefiore Medical Center, Cook County Health, Banner Health, and Franciscan Alliance, and at leading FQHCs, including CommuniCare Health Centers and Sun River Health. Among a number of successful initiatives, one was the rapid deployment of mass COVID-19 vaccination campaigns serving two million patients.
Luma Health's customers and industry partners, which include the academic medical center-focused Patient Access Collaborative, numerous state-level primary care organizations, and population health partners such as Azara Healthcare, work with Luma Health for its comprehensive technology, open platform, and ability to co-design seamless patient experiences alongside customers:
• Jeff Johnson, VP of Innovation and Digital Business at Banner Health: "Luma Health delivers. They are a special partner of Banner - we evaluated over 100 possible partners and picked Luma since they have the most comprehensive platform that offers unique integration opportunities with Cerner. We rely heavily on Luma's exceptional team members to provide us the support we need to power our digital transformation. We believe they are the future – their platform runs patient engagement for Banner, allowing us to transform faster, deliver efficiently and innovate rapidly."
• Adam Weber, Executive Director of Operations and Support Services at Cook County Health: "Luma Health is our platform to manage patient scheduling and communication at scale," said Weber. "Serving over five million patients throughout the Chicagoland area means we need a partner that can handle whatever we throw their way. Luma Health always delivers - whether that's their deep scheduling integrating into Cerner, scalable vaccine operations, patient outreach, or flexible messaging capabilities. Luma Health allows us to meet patients where they are, deliver care and increase patient satisfaction at Cook County Health."
• Greg Hyzak, VP of Information Systems and CIO at Kelsey-Seybold Clinic: "We see Luma Health's platform as a core operating system to enable Kelsey-Seybold to achieve our key strategic objectives," said Hyzak. "The unique bi-directional integration with Epic is unmatched in the market and the speed of execution and innovation of new capabilities is what we look for in a strategic partner."
Fueled by this funding, Luma Health will continue to develop its platform to meet the digital transformation needs of enterprise health systems, hospitals, FQHCs, and clinic networks and stay true to its mission of bringing equitable access to care to patients nationwide.
About Luma Health
Luma Health was founded on the idea that healthcare should work better for all patients. Every single point along the care journey should be simple, seamless, and effective, from accessing care to achieving health goals. Luma Health empowers providers to make this a reality through its digital health solutions, designed to boost access, streamline patient-provider communications, and drive increased revenues. Headquartered in San Francisco, Luma Health's Total Patient Engagement Platform™ is accelerating the digital transformation in healthcare by delivering digital health solutions that drive patient engagement and continuous care, empowering thousands of providers and more than 30 million patients across the United States today. Additional information about the company is available at https://www.lumahealth.io/, https://blog.lumahealth.io/, https://www.linkedin.com/company/lumahealth/, https://www.facebook.com/lumahealth, and https://twitter.com/lumahealthhq.
About FTV Capital
FTV Capital is a growth equity investment firm that has raised nearly $4 billion to invest in high-growth companies offering a range of innovative solutions in three sectors: enterprise technology and services, financial services, and payments and transaction processing. FTV's experienced team leverages its domain expertise and proven track record in each of these sectors to help motivated management teams accelerate growth. FTV also provides companies with access to its Global Partner Network®, a group of the world's leading enterprises and executives who have helped FTV portfolio companies for two decades. Founded in 1998, FTV Capital has invested in more than 125 portfolio companies, including 6 Degrees Health, Docupace, Derivative Path, EBANX, LoanPro and Vagaro, and successfully exited/partially exited companies including Enfusion, InvestCloud (recapitalized), Strata Fund Solutions (acquired by Alter Domus), Sunlight Financial, VPay (acquired by Optum) and WorldFirst (acquired by Ant Financial). FTV has offices in San Francisco, New York and Connecticut. For more information, please visit www.ftvcapital.com.
Jennifer Mirabile on behalf of Luma Health
Alexa Ottenstein on behalf of FTV Capital
Venture Capital Database