Funding Will be Used to Expand The Company's Growth Team and Strategic Operations
QLER Telehealth, America's leading on-demand psychiatry partner, today announced $7.4 million in Series B funding led by MedEquity Capital and completed by Relevance Ventures who added to its Series A investment in the company. This investment is a confirmation of QLER Telehealth's dramatic growth and measured success in its mission to offer every regional health system in the United States real-time access to psychiatry as a way to enhance the quality, cost and speed of their patient care. This investment will enable QLER Telehealth to continue its large national buildout of the company's dedicated group of employed psychiatrists who partner with regional health systems across the country. QLER Telehealth will also use the additional resources to expand its growth team and partner success infrastructure. "The addition of MedEquity to our investor group and Board is a boost we needed to actualize our tremendous potential," said Frank E. Johnson, President and CEO, QLER Telehealth. "Additionally, the level of collaboration between MedEquity Capital and Relevance Ventures, who was the first major investor to believe in us, is even more than I hoped for as we began the process for this latest round."
Jeff Ward from MedEquity and Chris Crawford from Relevance Ventures will each occupy a preferred seat on QLER Telehealth's Board of Directors.
Jeff Ward of MedEquity, a veteran healthcare investor and operator stated, "When you package QLER's year-over-year growth and ability to attract psychiatrists with our conviction that now is the time to remake and expand behavioral health in the United States, this investment made a great deal of sense to us."
Dean Newton of Relevance Ventures, remarked, "QLER's mission is well aligned with our investment philosophy to enhance people's well-being. This new funding and the continued growth and success of QLER only validates the potential the company brings to the rapidly emerging area of behavioral health."
About QLER Telehealth QLER Telehealth makes a simple offer to the country's healthcare systems: we promise any health system in the country the opportunity to integrate effective and economical, real-time behavioral healthcare throughout their care processes. Healthcare providers no longer need manage without critical behavioral health resources due to community location, social factors, or scale of operation.
QLER Telehealth's on-demand partnerships with regional health systems makes psychiatric coverage simple and economical. Regional health systems can depend on QLER for fast and high-quality psychiatrists 24/7/365. This allows the health system leadership to move on to solve other problems.
QLER Telehealth began as qlēr Solutions in 2017 and has since averaged 45% year-over-year growth, continually refining its model. The QLER Physicians group is on its way to being the largest group of psychiatrists in the country and currently partners with regional health systems coast to coast.
About MedEquity Capital MedEquity Capital is a healthcare-focused private equity firm with a 20-year track record of success investing in the lower middle market. MedEquity pursues investments in healthcare sectors where the firm has prior experience or a strong conviction regarding future growth. MedEquity's founders, Jeff Ward and Brandon Ingersoll, have worked together for over two decades and have generated returns for company founders and its investors well in excess of its peers. MedEquity's founders have both a long track record of investing and as business operators, giving the team the practical knowledge needed to assess growth strategies and the complexities of their implementation.
About Relevance Ventures Relevance Ventures is the only Native American privately owned and operated venture capital firm. Relevance Ventures provides strategic venture assistance and guidance to entrepreneurs working to foster harmony while delivering a positive communal impact. With over $80 million under management, the firm focuses on opportunities within the health & wellness and fintech/enterprise software industries. The firm specializes in identifying proven management teams with a solid business plan to bring harmony to an addressable market of at least $1 billion. Relevance Ventures was founded by Cameron and Dean Newton, and is headquartered in Nashville, Tennessee. The company is currently actively raising its fourth fund with a targeted size of $75 million.
SOURCE QLER Telehealth