Palo alto based Healthcare AI startup SymphonyRM secured $25 Million funding

SymphonyRM, a California-based provider of AI-powered patient engagement solutions for the health systems, has now secured $25 million in a Series B funding round.

Palo Alto headquartered SymphonyRM is founded by Michael Linnert. The healthcare AI startup provides a software platform designed for health CRM and AI for healthcare organizations. To date, the SymphonyRM secured a total of $35 Million in two funding rounds, note the announcement.

According to Markets and Markets report, The global healthcare CRM (customer relationship management) market is estimated to reach $17.4 billion by 2023 from USD 8.8 billion in 2018. In another report from Market Research Future, the global Healthcare CRM market size is expected to reach $21.46 billion by 2025.

Michael Linnert, CEO of SymphonyRM, said, "We're thankful to have established a partnership with TTCP, which is one of the most revered investors in emerging healthcare technology and SaaS companies, and to have the renewed support of Adams Street, which has been an exceptional steward of our organization's evolution. Individually, each organization is known for its successes helping companies navigate the growth stage, and together, we are working with the best possible team to shepherd us through this exciting new chapter."

Tom Bremner, Partner with Adams Street, said, "SymphonyRM has always had its eye on where healthcare is going, and we look forward to supporting the team as they innovate, flourish and cement the company's reputation as the preferred provider of healthcare consumer engagement solutions."

The TT Capital Partners led the latest funding round along with the participation of the Adams Street Partners.

The Palo Alto based healthcare AI company, as of now, intends to use the new funds to accelerate sales and marketing efforts to meet growing demands for actionable insights in the healthcare market.

SymhonyRM also plans to increase its reach and presence in the payer segment by utilizing data science and sophisticated AI, notes the announcement.

Previously, Nuvance Health has selected Palo Alto based AI healthcare platform to orchestrate consumer engagement across its community of 1.5 million patients