Loyal Closes $33.5M Series B Funding and Announces Changes to Executive Leadership Team, Board of Directors
2024年7月23日 - 5:05AM
ビジネスワイヤ(英語)
Funding Focused on Accelerating Customer Growth
and Product Development
Loyal (the “Company”), a healthcare technology company focused
on digital patient engagement, today announced it has closed on a
$33.5M Series B financing. The round included support from existing
investors, Concord Health Partners and multiple strategic
investors. The financing is expected to provide resources to expand
the Company’s customer base and product development, support
customer success and accelerate growth.
As part of the funding, the Company also announced changes to
its executive leadership team to support the Company’s strategic
vision for growth and scale. Loyal Founder Chad Mallory has decided
to step down from his position as Chairman and CEO, with the full
support of the Board, to transition into a Senior Advisor role,
effective July 26. Saurabh Sinha, Founder and Chairman of the Board
of Directors of Emids Technologies, has been appointed Chairman of
the Loyal Board of Directors and will help lead an effort to
recruit additional expertise to Loyal and build on the success of
the Company. Additionally, Mark Hipp has joined the Loyal Board of
Directors, bringing extensive experience in advising high-growth
technology enabled businesses.
“Loyal fills a critical gap in consumer care navigation and
represents a huge opportunity to improve the lives of patients and
the healthcare experience for all,” said Sinha. “I'm delighted to
join Loyal’s Board of Directors as Chairman and to help guide the
Company's strategic priorities as it continues to scale.”
Loyal’s consumer engagement platform supports health systems’
efforts to identify and create greater efficiencies by
consolidating disparate technology stacks, providing access for
more patients and in turn, driving more revenue to sustain and grow
operations. Loyal’s engagement platform aligns with health systems’
goals with a track record of continued revenue growth and a
customer base of 38 health systems.
“The combination of additional capital and the expertise of the
Company’s new leadership creates continued excitement around the
future of Loyal,” said James Olsen, Founder and Managing Partner of
Concord Health Partners. “This moment is about putting the right
capital, people and plan together to build on the initial vision
and achievements of Chad and the broader Loyal team. We have
enjoyed working with Chad as CEO and look forward to his continued
support as a Senior Advisor.”
“My vision from day one at Loyal was to help patients navigate
their way to better care. I couldn’t be more proud of the work
we’ve done and the people that made the vision real,” Mallory said.
“I’m hopeful Loyal’s next phase can help even more patients lead
their healthiest lives.”
For more information about Loyal, visit: LoyalHealth.com.
About Loyal
Loyal is a healthcare consumer experience company solely
dedicated to the betterment of patient care. As the preferred
platform for improved care utilization used by the nation’s leading
health systems and hospitals, Loyal’s AI-powered solution makes it
easier for patients to connect and access care across their entire
health journey, thereby driving loyalty with their trusted health
provider. Streamline patients’ navigation of your health system and
network of clinical services with LoyalHealth.com.
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Alyssa Horowitz PAN Communications for Loyal
LoyalHealth@pancomm.com