PayGround provides a healthcare payments platform and mobile app that lets patients manage, track and pay all medical bills in one secure place. The platform is designed to modernize payments for providers by reducing costs, simplifying processes and boosting patient and employer satisfaction. Led by CEO Drew Mercer, the company has entered the ambulatory market and is positioning to expand into hospitals and health systems. PayGround raised a $19.7M Series A to support that expansion and to grow its senior leadership team. The product targets both patient-facing convenience and operational efficiencies for medical providers. No operating metrics (revenue/users) were disclosed in the article. PayGround is a healthcare fintech payments platform based in Gilbert, AZ, led by CEO Drew Mercer. The company’s mobile app lets patients take a picture of a bill, select a payment method and click pay to settle bills from all providers in one place. PayGround also streamlines the collections process for healthcare providers. The company closed a $5.5M funding round to support its growth. Management says the proceeds will be used to expand into new markets, invest in new marketing campaigns and enhance the platform’s features. No other operating metrics or past financings were disclosed in the article. PayGround builds an integrated healthcare payments engine that lets patients submit payments to all their providers through one workflow and user interface. For providers, the platform centralizes payments and improves collections and revenue-cycle economics. Founded in 2018 and based in Gilbert, Arizona, PayGround has deployed in over 100 healthcare facilities within a year of commercial market presence. Providers using PayGround have experienced an average 23% increase in revenue, more than a 60% decrease in collections turnaround time, and over 40% savings versus prior vendor fees. The company plans to use new funding to execute its technology roadmap and pursue an aggressive sales and marketing plan. PayGround has also expanded its board with investor representatives and healthcare IT leader Dan Johnson.

Total raised

$29M

Funding rounds

3

Latest round

Series A

Latest activity

Nov 2023