Medxoom raises $8m in Series A round for healthcare marketplace platform

Healthcare marketplace platform Medxoom has secured an additional $8 million in venture capital led by Castellan Group and with participation from industry investors.

The company said that healthcare IT veteran Sean Smith and Zelis Healthcare founder will join the board of Medxoom.

Existing investors TTV Capital and Las Olas VC also took part in the funding round.

Sean Smith – a Castellan Group founding family member said: “Medxoom’s solution addresses a major challenge in the US Healthcare market. By closing the loop between selecting a provider service and payment, Medxoom is driving the capabilities of a modern, shoppable market.

“We look forward to working with the Medxoom team to deliver on its maximum potential.”

Medxoom will use the funds to speed up the growth of its business, increase staff, and expand the capabilities of its platform.

The healthcare marketplace platform caters to administrators, payers and healthcare systems with its white label platform to help them plan in improving member engagement, care selection, and payments experiences.

Medxoom said that the latest injection of capital will help scale up its payments, financial services, and marketplace capabilities.

Jeff Toewe – Medxoom CEO and Founder said: “We’re pleased with our progress in the ecosystem; it’s great to be able to help progressive plan leaders and administrators integrate their offerings into a cohesive experience.

“Our clients want their members to receive a curated marketplace experience focused on quality and cost containment. The era of a functioning Healthcare Marketplace in the US continues to progress; we’re pleased Medxoom’s platform and payments technologies help deliver their needs.”