TailorMed Overview
TailorMed is focused on harnessing technology to improve the financial performance of healthcare providers and reduce financial hardship for patients. The company provides a personalized projection of a patients out-of-pocket costs and automatically finds cost-saving opportunities based on insurance optimization and financial assistance programs. TailorMed offers a comprehensive suite of products to automate a fragmented and inefficient process. TailorMed Financial Navigation streamlines and automates the centers financial processes, proactively identifying patients with the highest financial risk, offering personalized funding opportunities, and enrolling patients in these programs. TailorMed Financial Insights is a powerful analytics and reporting dashboard that tracks, measures, and reports the key performance indicators (KPIs) of the financial navigation process and allows administrators and financial executives to measure the impact on the centers bottom line. TailorMed Pharmacy extends beyond the patient enrollment stage and into a free/replacement drug program, streamlining the process of ordering, tracking, and properly billing each drug order based on the patients treatment regimen.
Cumulative Funding Raised Over Time ($)
$2.0MJun 2019
$22.0MJun 2021
$28.0MMar 2019
$55.5MNov 2024
$68.0MNov 2024
$73.0MSep 2021
Latest News
growth-positive
With growing demand in the U.S., the startup’s platform addresses one of healthcare’s biggest pain points.
Israeli digital health company TailorMed has secured $40 million in equity and debt in its latest funding round, led by Windham Capital Partners. The round also saw participation from Samsung Next, Citi Impact Fund, and BrightEdge fund, among others. The debt component, amounting to $12.5 million, was led by Poalim Tech. This funding brings TailorMeds total funding to $69 million. TailorMed, founded in 2016, offers financial assistance solutions to improve access to medications in the U.S. market. The company aims to address healthcare affordability by connecting patients, healthcare providers, pharmacies, and pharmaceutical companies. The new funding will support TailorMeds mission to make healthcare more affordable and accessible.
Investment
growth-positive
TailorMed raises $40 million in equity and debt to help patients access critical medications | CTech
Israeli digital health company TailorMed has successfully raised $40 million in a funding round led by Windham Capital Partners, with participation from Samsung Next, Citi Impact Fund, and others. This round includes a $12.5 million debt component led by Poalim Tech, bringing TailorMeds total funding to $69 million. The company, founded in 2016, focuses on providing financial assistance solutions to improve access to medications in the U.S. market. TailorMeds platform connects patients, healthcare providers, and pharmaceutical companies to address the affordability of prescription drugs, a significant issue in the U.S. The new funding will support TailorMeds mission to enhance healthcare affordability and expand its network.
Investment
TailorMed Strengthens Nation's Largest Network of Patients, Providers, Pharmacies, and Life Science Companies with Support from Ballad Ventures, Inception Health, and University Hospitals Ventures
growth-positive
TailorMed Strengthens Commitment to Patient Security and Privacy by Achieving SOC 2 Type II Compliance
TailorMed has successfully completed a Service Organization Control (SOC®) 2 Type II compliance audit, demonstrating its commitment to data integrity, confidentiality, and privacy. The audit was conducted by a leading third-party SOC2 assessment provider and validates that TailorMeds controls and processes meet the stringent regulatory standards, such as HIPAA. The companys Security Management Program (SMP) ensures the confidentiality, privacy, integrity, and availability of electronic protected health information (ePHI). TailorMed aims to build a network of patients, providers, pharmacies, and life science companies to ensure all patients can afford treatment.
Customers
growth-positive
TailorMed Announces Acquisition of Vivor to Create the Largest Provider and Pharmacy Network Tackling Financial Barriers to Care
TailorMed, a financial navigation platform for healthcare organizations and patients, has acquired Vivor, a financial assistance technology platform for healthcare providers and life sciences. The acquisition will accelerate the development of innovative solutions and expand market reach to help reduce the cost of treatment for more patients. The combined companies will create the largest network of provider, pharmacy, and life sciences companies in the market. In connection with the acquisition, TailorMed has opened an office in Portland, OR.
AcquisitionExpand
| Sector | Health Tech & Life Sciences |
Funding
| Total funding | $60.5M |
| Last funding | $12.5M |
| Stage | B |
| Rounds | 7 |
| Investors | 16 |
Team Members
3
Employees: 51-200
Web & Social Links
| Website | tailormed.co |
| Careers | Careers page |
Locations
Yehuda and Noah Moses Street 13, Tel Aviv-Yafo, Israel
33 Irving Pl, New York, NY 10003, USA
Photos & Videos
2 item(s)
TailorMed Business
Business models
B2B2C
Product stage
Released
Employees
51-200
Sector
Fintech & InsurtechPersonal Finance ManagementInsurtechHealth Tech & Life SciencesDigital HealthcareClinical WorkflowTarget Customer
Healthcare & Life SciencesHealthcareProvidersInsurance CompaniesCore Technology
Artificial IntelligencePlatforms & InterfacesSoftwareTags (21)
big-data-analyticspatientshealth-informationdigital-healthcaredoctorshospitalssoftware-applicationshealthcare-providershealth-managementpersonalizationfinancial-servicesoncologyweb-platformsaasartificial-intelligenceclinical-workflowpredictive-analyticspopulation-health-managementinsurance-companiesinsurtechreal-timeSolutions
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Use Cases
How Highlands Oncology Group Transformed its Financial Navigation Program, Quickly Boosting Revenue How the Cowell Family Cancer Center took their financial navigation program to the next level How Augusta Oncology Surpassed 2020 Patient Financial Resource Enrollments and Revenue in Only 6 MonthsGeographic Markets
GlobalUnited StatesTailorMed Financials
$60.5M
Total funding
Undisclosed
Capital raised
$12.5M
Last funding
B
Funding stage
7
Total rounds
16
Investors
Cumulative Funding Raised Over Time ($)
$2.0MJun 2019
$22.0MJun 2021
$28.0MMar 2019
$55.5MNov 2024
$68.0MNov 2024
$73.0MSep 2021
Private Equity Funding
Undisclosed Round
Nov 2024
$27.5M
Windham Venture Partners (Lead)
,
Sanara Ventures, Bridges Israel, Almeda Ventures, BrightEdge, Accelmed, Citi, Samsung Next TLV, Triventures
Debt Financing
Nov 2024
$12.5M
Poalim Equity (Lead)
B Round
Sep 2021
$5M
Sanara Ventures, BrightEdge, Sanara Capital, Citi Ventures, OSF Ventures, Discount Capital
B Round
Jun 2021
$20M
Providence Strategic Growth (Lead)
,
UnityPoint Health Ventures, Bridges Israel, Almeda Ventures, Sanara Ventures, Triventures, Accelmed
A Round
Jun 2019
$2M
Accelmed (Lead)
,
Sanara Capital
A Round
Mar 2019
$6M
Triventures, Sanara Ventures
Non-Equity Funding
GrantEvent
Nov 2017
Undisclosed
MassChallenge
Mergers & Acquisitions
MNAEvent
Nov 2021
Undisclosed
TailorMed Lifecycle
Cumulative Funding Raised Over Time
$2.0MJun 2019
$22.0MJun 2021
$28.0MMar 2019
$55.5MNov 2024
$68.0MNov 2024
$73.0MSep 2021
All Events
Undisclosed Round
Nov 2024
$27.5M
Windham Venture Partners (Lead)
,
Sanara Ventures, Bridges Israel, Almeda Ventures, BrightEdge, Accelmed, Citi, Samsung Next TLV, Triventures
Debt Financing
Nov 2024
$12.5M
Poalim Equity (Lead)
B Round
Sep 2021
$5M
Sanara Ventures, BrightEdge, Sanara Capital, Citi Ventures, OSF Ventures, Discount Capital
B Round
Jun 2021
$20M
Providence Strategic Growth (Lead)
,
UnityPoint Health Ventures, Bridges Israel, Almeda Ventures, Sanara Ventures, Triventures, Accelmed
A Round
Jun 2019
$2M
Accelmed (Lead)
,
Sanara Capital
A Round
Mar 2019
$6M
Triventures, Sanara Ventures
GrantEvent
Nov 2017
Undisclosed
MassChallenge
MNAEvent
Nov 2021
Undisclosed
TailorMed News
20 articles
growth-positive
With growing demand in the U.S., the startup’s platform addresses one of healthcare’s biggest pain points.
Israeli digital health company TailorMed has secured $40 million in equity and debt in its latest funding round, led by Windham Capital Partners. The round also saw participation from Samsung Next, Citi Impact Fund, and BrightEdge fund, among others. The debt component, amounting to $12.5 million, was led by Poalim Tech. This funding brings TailorMeds total funding to $69 million. TailorMed, founded in 2016, offers financial assistance solutions to improve access to medications in the U.S. market. The company aims to address healthcare affordability by connecting patients, healthcare providers, pharmacies, and pharmaceutical companies. The new funding will support TailorMeds mission to make healthcare more affordable and accessible.
Investment
growth-positive
TailorMed raises $40 million in equity and debt to help patients access critical medications | CTech
Israeli digital health company TailorMed has successfully raised $40 million in a funding round led by Windham Capital Partners, with participation from Samsung Next, Citi Impact Fund, and others. This round includes a $12.5 million debt component led by Poalim Tech, bringing TailorMeds total funding to $69 million. The company, founded in 2016, focuses on providing financial assistance solutions to improve access to medications in the U.S. market. TailorMeds platform connects patients, healthcare providers, and pharmaceutical companies to address the affordability of prescription drugs, a significant issue in the U.S. The new funding will support TailorMeds mission to enhance healthcare affordability and expand its network.
Investment
TailorMed Strengthens Nation's Largest Network of Patients, Providers, Pharmacies, and Life Science Companies with Support from Ballad Ventures, Inception Health, and University Hospitals Ventures
growth-positive
TailorMed Strengthens Commitment to Patient Security and Privacy by Achieving SOC 2 Type II Compliance
TailorMed has successfully completed a Service Organization Control (SOC®) 2 Type II compliance audit, demonstrating its commitment to data integrity, confidentiality, and privacy. The audit was conducted by a leading third-party SOC2 assessment provider and validates that TailorMeds controls and processes meet the stringent regulatory standards, such as HIPAA. The companys Security Management Program (SMP) ensures the confidentiality, privacy, integrity, and availability of electronic protected health information (ePHI). TailorMed aims to build a network of patients, providers, pharmacies, and life science companies to ensure all patients can afford treatment.
Customers
growth-positive
TailorMed Announces Acquisition of Vivor to Create the Largest Provider and Pharmacy Network Tackling Financial Barriers to Care
TailorMed, a financial navigation platform for healthcare organizations and patients, has acquired Vivor, a financial assistance technology platform for healthcare providers and life sciences. The acquisition will accelerate the development of innovative solutions and expand market reach to help reduce the cost of treatment for more patients. The combined companies will create the largest network of provider, pharmacy, and life sciences companies in the market. In connection with the acquisition, TailorMed has opened an office in Portland, OR.
AcquisitionExpand
growth-positive
TailorMed bolsters leadership team with three strategic hires
Israeli startup TailorMed Medical has appointed Naama Geva as CFO, Vince King as CCO, and Noa Inbar-Hershkovits as VP of People. Geva brings financial leadership experience from high-growth startups, King has a track record of growing healthcare technology companies, and Inbar-Hershkovits has HR experience. The appointments aim to accelerate company growth. TailorMed recently extended its funding round, raising the overall investment to $25 million. New strategic investors include the American Cancer Society, BrightEdge, OSF Healthcare, Citi, and Sanara Capital.
Management ChangesInvestment
TailorMed Extends Funding Series to $25 Million to Continue Growing its Market-Leading Financial Navigation Platform
5 healthcare startups to watch
growth-positive
TailorMed collaborates with AllianceRx Walgreens Prime to reduce patient costs
TailorMed, an Israeli company, is collaborating with AllianceRx Walgreens Prime to help reduce the burden of specialty therapies for eligible patients by connecting them with financial resources. TailorMeds platform automates the process of identifying financially at-risk patients and enrolling them in financial assistance programs. The collaboration aims to lower specialty prescription costs and improve patient adherence to treatment. Last month, TailorMed raised $20 million in an investment round led by Providence Ventures, bringing their total funding to $28 million.
PartnersCustomers
growth-positive
An Israeli technology helping Americans afford healthcare
Israeli startup TailorMed provides a platform that identifies financially at-risk patients and connects them with resources to help cover medical costs. The platform reduces immediate out-of-pocket costs for patients and helps healthcare providers and pharmacies receive reimbursement from other entities. TailorMed has partnered with hospitals, clinics, and pharmacies across the United States, including Providence, Henry Ford Health System, and Memorial Sloan Kettering. The company recently raised $20 million in a financing round led by Providence Ventures and plans to expand its services throughout the US healthcare industry. TailorMeds vision is to continue helping patients and improving providers financial performance.
Customers
growth-positive
TailorMed announces $20 million investment
TailorMed, a financial management platform for cancer patients, has raised $20 million in an investment round led by Providence Ventures. The total funding raised by the company now stands at $28 million. The platform automates the process of identifying financially at-risk cancer patients and enrolling them in financial resources. The investment will help TailorMed innovate and reduce financial barriers to care. The company currently works with over 50 hospitals and 200 clinics in the U.S. and has obtained funding for patients totaling over $500 million. The investment round included participation from new investors and existing investors, demonstrating their commitment to transforming healthcare.
Investment
growth-positive
TailorMed Launches New Service to Complement its Industry Leading Platform in Helping Reduce Patient Out-of-Pocket Costs, Provider Bad Debt
TailorMed, a financial navigation technology company, has launched TailorMed Complete, a new service that offers financial navigation experts to help healthcare organizations secure funding for patients at risk of not affording care. The service aims to remove financial barriers to care and increase revenue opportunities for providers. TailorMeds team helps patients navigate health insurance complexities and enroll them in the right financial resources. The service also provides insurance optimization for patients. TailorMed aims to make it easier for patients to secure financial resources by expanding access through telehealth. The company has a mission to help patients and healthcare providers remove financial barriers to care.
Customers
growth-positive
TailorMed and the Patient Access Network (PAN) Foundation Launch New Initiative to Reduce Financial Barriers for Low-income Medicare Beneficiaries
TailorMed has announced a partnership with the Patient Access Network (PAN) Foundation to provide financial navigation technology support to PANs eligible patients. The partnership aims to help patients enroll in the Social Security Administrations Extra Help program for Medicare Part D. TailorMeds team of financial navigators will assist PAN grant recipients in enrolling in the program, ensuring they can afford medical treatment. The partnership will help Medicare beneficiaries with limited incomes access the Extra Help program, reducing their prescription drug costs. TailorMed and PAN aim to alleviate financial hardship for individuals and families who need it the most. PAN Foundation is a charitable organization providing financial support to underinsured patients, while TailorMed is a healthcare technology company focused on removing financial barriers to care.
Partners
growth-positive
McKesson and TailorMed Collaborate to Reduce Patient Financial Barriers to Care
McKesson and TailorMed are collaborating to offer a best-in-class financial navigation platform to McKesson Onmark customers, which include community practices specializing in oncology, rheumatology, gastroenterology, neurology, and retina. The collaboration aims to improve patient access and financial performance for specialty practices. TailorMeds platform proactively identifies patients with financial risk and connects them with personalized financial assistance resources. McKesson offers Onmark customers a suite of technology and services that provide transparent pricing and strategic advisory services. The collaboration will enhance the experience of specialty practices working with McKesson.
Partners
growth-positive
TailorMed platform helps offset costs for patients, providers
TailorMed, a platform that integrates with EHR and billing systems, helps healthcare organizations quickly find financial assistance for patients and increase revenue collection for providers. The platform automates the process of creating out-of-pocket cost estimates for patients and matches them to financial opportunities such as copay assistance programs and grants. The integration of TailorMed into Henry Ford Cancer Institutes Epic EHR platform has allowed the financial counseling team to spend more time helping patients navigate paying for treatments. The platform also alerts the team to new financial assistance opportunities and helps capture grants for patients. TailorMed has made its platform accessible remotely during the COVID-19 pandemic to continue providing financial navigation services to patients.
CustomersPartners
growth-positive
TailorMed launches Remote Navigation solution to enable hospital staff to help their patients from afar and ensure that healthcare providers can recover lost revenues
TailorMed has launched its Remote Navigation solution, which enables healthcare providers to remotely work with patients to ease their financial burden. The solution combines TailorMeds software platform with a fully remote turnkey service. The outbreak of COVID-19 has led to millions of Americans losing their healthcare coverage and income, putting financial pressure on healthcare providers. TailorMeds Remote Navigation aims to help healthcare providers maximize their revenues by finding new financial resources to offset patient costs. The solution automates administrative and research work, reducing financial burdens on patients and helping healthcare providers recover more revenue. TailorMed offers a complete range of services including patient financial navigation and enrollment in financial assistance programs.
Customers
growth-positive
Healthcare Financing Startup TailorMed Expands Financing Round to $8 Million
Healthcare financing startup TailorMed has expanded its series A funding round from $6 million to $8 million. The additional $2 million was raised from Israeli medtech investment firm Accelmed Growth Partners. TailorMed develops software to streamline financial processes between patients and healthcare providers, using data analytics to identify patients with high financial risk and offering personalized funding opportunities.
Investment
growth-positive
https://www.jpost.com/Opinion/Hillels-Tech-Corner-Bending-the-cost-curve-of-cancer-582796
TailorMed, a healthcare company focused on addressing the financial burden of cancer treatment, has completed a $6 million round of financing. The company offers a data-driven, AI-powered financial navigation solution that helps patients find optimal financial solutions based on their medical records and diagnosis. This not only benefits the patients but also improves the financial performance of healthcare providers by reducing bad debt. TailorMed aims to deploy its technology in several hospitals, primarily those focused on cancer treatments.
CustomersInvestment
growth-positive
Care delivery financing co TailorMed raises $6m
Israeli startup TailorMed, which develops systems to help patients and healthcare providers manage the financial challenges of care delivery, has raised $6m in a funding round. The round was led by Triventures and included participation from Sanara Ventures. TailorMed, which launched its product in the US in 2017, will use the funds to accelerate the development of its technology and increase its market penetration. The companys system uses AI to provide financial support to cancer patients, helping them manage the cost of their treatment.
Investment
growth-positive
TailorMed remedies financial side effects of drugs
TailorMed is a company that provides online financial counseling for cancer patients. The companys system estimates treatment costs, finds financing sources, and fills out forms for submitting requests for alternative financing. The system also includes predictive options to optimize treatment plans. TailorMed aims to reduce bad debts for hospitals and has the potential to save thousands of dollars per patient. The company is currently focused on cancer treatment but plans to expand to other diseases in the future. TailorMed hopes to have its system installed in 10 hospitals by the end of the year.
Customers
TailorMed Team
Employee Info
| Employees (range) | 51-200 |
| Exact count | 192 |
| Team members | 3 |
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TailorMed Internal
Recent Updates
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Admin Info
| Confidence | 100/100 |
| Missing | markets |
| BI Verification | Jenny Sotnik-Talisman |
| Registrar ID | 515554079 |
| Crunchbase | tailormed |
| Creator | Sharon Zaks |
| Creator email | sharon1337@gmail.com |
| Last updater | Yanina Wainscheinker |
| Updater email | yanina.wainscheinker@sncentral.org |
| Last update | 2023-01-04T00:00:00.000Z |
| Created | 2017-05-17T00:00:00.000Z |
| Claimed | Yes |