InstaMed, a Philadelphia, PA-based Healthcare Payments Network, has raised $14m in funding.
Backers include five funds, including one new investment vehicle, and angels.
The company intends to use the capital to scale its network infrastructure and operations, and to support the growth of the payer segment on its network.
Led by co-founder, CEO and chairman Bill Marvin, InstaMed connects healthcare providers, payers and patients for secure and mission critical communications, administrative transactions and payments.
Leveraging a single, integrated network in its private cloud, the company supports healthcare clearinghouse, eligibility, estimation, patient and payer payment and patient billing transactions.