Valant Medical Solutions, a Seattle startup that develops software to help behavioral health practitioners manage billing and electronic medical records at their offices, today announced a $11 million round that will allow the Seattle startup to further develop its product line while also hiring more than 20 new employees.
Founded in 2005 by brothers David Lischner, a psychiatrist who previously ran Evidence Based Treatment Centers of Seattle, and Ben Lischner, a former software developer at AT&T Wirelesss, Valant was started to relieve the time demands on psychiatrists and mental healthcare professionals.
Valant offers various cloud-based solutions like e-prescribing and customizable charting for psychiatrists, therapists, and other behavioral health professionals.
The fresh cash is a step up from the $4.2 million that Valant, which employs 56, had raised previously. The new round saw participation from current and new private investors, along with a Seattle-based private equity fund.
“This latest investment will allow us to take our current platform and extend it into other areas of behavioral health care including the public behavioral health care market where we see huge opportunities to enable better patient and organizational outcomes at scale,” David Lischner told GeekWire.
Lischner noted that he sees three major trends happening in his space: The need for behavioral health care services; more focus on clinical outcomes thanks to the Affordable Care Act; and integration of care between primary care and behavioral health care specialists.
The co-founder said that these trends will continue as demand increases for tools that can support population health management and collaborative care.
“We think that there will be win-win-wins for patients, service providers and Valant as our solution is used more and more to support business and organizational growth through better patient outcomes and better collaboration with referral sources and other partners,” Lischner said.