SwervePay provides a portal-free payment solution that enables patients to submit one-click payments via text message, eliminating mobile apps and paper statements. The platform uses a secure integration engine and back-end electronic health record automation to streamline revenue-cycle collections for providers. SwervePay’s system reduces outstanding patient balances, lowers debt and administrative costs, and improves staff efficiency and cash flow for hospitals and health systems. The company cites industry usage barriers — 64% of patients won’t use portals and 98% won’t use hospital/physician mobile apps — to justify its text-first approach. Launched self-funded in 2010 and based in Chicago, SwervePay previously raised a $1.6M Series A in 2014. The company plans to use new capital to grow and expand, enhance its channel partner network, and attract talent to advance its product and market reach.

Total raised

$10M

Funding rounds

1

Latest round

Series B

Latest activity

Feb 2016