# Modernizing Medicine

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/modernizing-medicine

- Industry: Healthcare IT
- Headquarters: Boca Raton, US
- Website: www.modmed.com
- Total disclosed funding: $294M
- Latest round: Series F (May 8, 2017)
- Investors on record: 5

## About

Based in the US, Modernizing Medicine, Inc. specializes in providing innovative cloud-based Electronic Health Record (EHR) solutions designed for specialty medical practices, enhancing patient care through advanced tools and streamlined workflows.Modernizing Medicine, Inc. is focused on developing EHR solutions tailored for specialty medical practices. Founded in 2010 and headquartered in Boca Raton, US, the company has concluded a total of 11 deals, with the most recent deal occurring on March 3, 2025. The CEO team comprises Daniel Cane, Joe Rubinsztain, and Ranjan Sachdev. In this time, they have raised a total of USD 53.37 mn, with the latest funding round achieved in 2025 being USD 53.37 mn.ModMed® provides a comprehensive suite of cloud-based Electronic Health Record (EHR) solutions tailored for specialty medical practices. Their flagship product, the Electronic Medical Assistant® (EMA®), integrates clinical and administrative workflows to streamline patient care and enhance operational efficiency. The company’s offerings cater to various specialties, including dermatology, gastroenterology, orthopedics, and urology. Key features include AI-powered documentation tools like ModMed Scribe, which assist clinicians in efficiently capturing visit notes, and automated analytics that help practices make informed decisions based on real-time data. ModMed serves a diverse clientele, including independent practices, group practices, and larger healthcare organizations across the United States, focusing on delivering customized solutions to meet the needs of each specialty.ModMed generates revenue primarily through subscription-based models for its cloud-based EHR and practice management solutions. Clients typically enter annual or multi-year contracts that provide access to a variety of services including clinical documentation, patient communication, and revenue cycle management, tailored for their specific medical specialty. The pricing structure accommodates various practice sizes, ensuring scalability as client needs evolve. Transactions are handled directly between ModMed and its clients, fostering a B2B relationship that emphasizes long-term partnerships. ModMed has established a consistent revenue stream from its comprehensive product offerings, which include EMA and related services that enhance practice operations and patient care.In March 2025, Clearlake Capital Group acquired a majority stake in Modernizing Medicine, Inc. from Warburg Pincus. This acquisition enables the company to enhance its business offerings. Future growth strategies include the development of new products and solutions aimed at expanding their EHR capabilities and enhancing user experience. The company is also targeting expansion into new geographical markets, although specific regions have not been disclosed. The recent funding will support these initiatives, allowing Modernizing Medicine to innovate and grow its market presence.

## Funding rounds

- Series F, May 8, 2017, $206M — Warburg Pincus
- Series E, Sep 1, 2015, $38M — Summit Partners, Pentland Group, Sands Capital Alternatives
- Series D, Mar 19, 2015, $20M — IBM Ventures
- Series D, Nov 10, 2014, $16M — Summit Partners, Pentland Group
- Series C, Aug 20, 2013, $14M — Summit Partners

## Investors

- Summit Partners (https://capitalatlas.ai/funds/summit-partners) — Series C, Series D, Series E
- Pentland Group — Series D, Series E
- IBM Ventures (https://capitalatlas.ai/funds/ibm-ventures) — Series D
- Sands Capital Alternatives (https://capitalatlas.ai/funds/sands-capital-alternatives) — Series E
- Warburg Pincus (https://capitalatlas.ai/funds/warburg-pincus) — Series F