has issued Series A Preferred Stock to an investor group led by
PayerPath is a provider of Internet- based claims and other healthcare financial transactions.
Senior Team
PayerPath
Type
Capital Raise
Description
has issued Series A Preferred Stock to an investor group led by
PayerPath is a provider of Internet- based claims and other healthcare financial transactions.
About
PayerPath is a provider of web-based, value-added financial transaction services to the healthcare community. The Company enables healthcare providers and payors to electronically process transactions over the Internet, simply and inexpensively.
Situation
PayerPath was in its very early stages of growth, with a finished product, several hundred customers, and modest revenue. The Company needed capital to build out its infrastructure and fund sales and marketing efforts. Croft & Bender was hired to draft the offering memorandum, market the Company to interested parties, and to analyze, structure, and negotiate a transaction that would raise the necessary capital.
Result
Croft & Bender successfully raised capital for the Company, with the institutional investors including Marquette Venture Partners, Acacia Capital Partners, and Salix Ventures. Croft & Bender also raised additional capital eighteen months later, a round in which C&B Capital also participated alongside the initial investors and lead investor Envest Ventures.