# Parachute Health

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/parachute-health

- Industry: Healthcare IT
- Headquarters: New York, US
- Website: www.parachutehealth.com
- Total disclosed funding: $5.5M
- Latest round: Seed (Mar 15, 2018)
- Investors on record: 2

## About

Parachute Health, LLC offers a digital platform that optimizes the ordering process for Durable Medical Equipment, enhancing efficiency for healthcare providers, suppliers, and payors through innovative technology solutions.Founded in 2015 and headquartered in New York, US, Parachute Health specializes in streamlining the ordering of Durable Medical Equipment (DME). The company has secured funding of USD 9.5 mn in its latest venture round on June 4, 2018, led by Greater New York Hospital Association Ventures. David Gelbard serves as both the CEO and Founder, bringing expertise from previous entrepreneurial endeavors. The total amount raised by the company stands at USD 9.5 mn across two notable deals.Parachute Health provides an advanced digital platform designed to streamline the ordering process for Durable Medical Equipment (DME). Their core offerings include an integrated ePrescribing suite and a digital order management system that enables healthcare providers to place orders efficiently, track their status in real-time, and manage vendor networks seamlessly. The platform is specifically tailored to address the needs of clinicians, DME suppliers, and payors, helping to eliminate up to 80% of manual paperwork, thereby enhancing operational efficiency. This solution serves a diverse client base, including over 70,000 clinical facilities and more than 3,000 supplier locations across all 50 states in the U.S. By digitizing home health ordering and facilitating timely access to life-saving medical products, Parachute Health aims to enhance patient care and satisfaction for end users including hospitals, skilled nursing facilities, and home health services.Parachute Health operates on a business-to-business (B2B) model, generating revenue through partnerships with healthcare providers and DME suppliers who utilize its platform for electronic ordering and management. The company engages in subscription-based pricing for its software services, allowing clients to access advanced functionalities for a recurring fee. Transactions typically involve the integration of the platform into healthcare systems, enabling streamlined ordering processes for a wide range of DME products and services. By offering a centralized intake platform that significantly accelerates order processing, Parachute Health supports its clients in improving service delivery and compliance, ultimately fostering long-term relationships with healthcare providers and suppliers in the market. These transactions facilitate the efficient flow of medical products to patients, thereby reinforcing the company's role as a vital connector in the healthcare supply chain.Following the recent funding of USD 9.5 mn in June 2018, which was led by individual investors and included participation from Greater New York Hospital Association Ventures, Parachute Health plans to enhance its product offerings and expand its market reach. The company is focused on developing new functionalities within its platform to further streamline the ordering process for users. Additionally, there are intentions to penetrate new geographic markets, leveraging the latest investment to improve infrastructure and outreach efforts. Specific timelines for these expansions and product launches have not been disclosed.

## Funding rounds

- Seed, Mar 15, 2018, $5.5M — Loeb Holding Corporation, Greater New York Hospital Association Ventures

## Investors

- Loeb Holding Corporation — Seed
- Greater New York Hospital Association Ventures (https://capitalatlas.ai/funds/greater-new-york-hospital-association-ventures) — Seed