Cypress Growth Capital Invests in MedChat
$2.25M Non-Dilutive Funding for Healthcare SaaS Company
Cypress Growth Capital is pleased to announce our recent investment in MedChat, a modern patient communication platform for healthcare organizations. Based in Charlotte, NC, MedChat offers an artificial intelligence-based SaaS chatbot solution that improves efficiency, reduces costs, improves patient satisfaction, and drives revenue growth.
“Having the telephone as the primary form of patient communication is inefficient, outdated and expensive for a healthcare organization,” said Matt Yagey, MedChat CEO and Founder. “We’re delivering the modern communication tools that patients now expect when interacting with their healthcare organization.”
MedChat helps organizations to easily deploy custom chatbots that automate workflows and enhance communication. Specialized bots like Triage Bot enable payers and providers to guide patients to the most appropriate venue of care in less than 90 seconds, reducing emergency department utilization and driving new patient capture.
"The Cypress team brings real-world operating experience to the table and they have invested in dozens of successful SaaS companies. We wanted to tap into that experience base."
- Matt Yagey | MedChat Founder/CEO
“MedChat was seeking more than just capital,” said Cypress Principal Shale Gulbas. “They wanted a value-added partner who understood SaaS and who could assist them in scaling the company.”
“The team at Cypress Growth Capital brings real-world operating experience to the table,” commented CEO Yagey. “In addition, they have invested in dozens of successful SaaS companies and we wanted to tap into that experience base.”
MedChat will use the growth capital investment from Cypress to expand channel sales and marketing, and to develop new product features.