Valant Medical Solutions, a Seattle, WA-based provider of behavioral health software for private practices, received a strategic investment from Gemspring Capital.
The amount of the deal was not disclosed.
The company intends to use the funds to accelerate its product roadmap, and launch new sales and marketing initiatives.
Led by co-founder and CEO David Lischner, MD, Valant provides a software-as-a-service suite of electronic healthcare record (EHR) and practice management solutions to over 2,000 behavioral health practices across the United States.
Spurrier Capital Partners served as the exclusive financial advisor to Valant.
Gemspring Capital is a Westport, Connecticut-based private equity firm with $355 million of equity capital under management, which focuses on making control and structured equity investments in lower middle market companies headquartered in the United States and Canada.
Target companies have up to $350 million in revenue and are in the business services, healthcare services, financial services, industrial services, software, or specialty manufacturing sectors.