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Seattle Health Tech Startup DexCare Raises $ 20 Million And Spins Out Of Providence’s Digital Innovation Group

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DexCare CEO Derek Streat and CCO Sean O Connor. (DexCare photo)

New Financing: DexCare, an access optimization platform and the latest healthcare technology company spun out of the Providences Digital Innovation Group, has announced a $ 20 million funding round.

Technology: Providence first launched DexCare in 2016 to support the same day care business, Providence Express Care Virtual Digital Patient Acquisition. The software platform helps navigate patients to the most appropriate care settings and integrates with existing systems.

Pandemic tailwind: DexCare increased patient visits during the pandemic as care went online. It is also used in other Providence care facilities and other external healthcare systems. Customers include Community Health Network, Houston Methodist and more. The company refused to share revenue indicators.

Team: Derek Streat leads DexCare as CEO and Sean O Connor is Chief Commercial Officer. Streat previously co-founded C-SATS, a Seattle startup that uses technology to evaluate surgeons, and was acquired by Johnson & Johnson in 2018. OConnor has been the company’s Chief Revenue Officer for four years.

Streat is also a veteran of Classmates.com, who previously founded AdReady and Medify. OConnor spent nearly 10 years at Intuitive Surgical before joining C-SATS.

Investor: Define Ventures led the round. Frist Cressey Ventures, Kaiser Permanente Ventures, SpringRock Ventures and Providence Ventures also participated. Define Ventures Managing Partner Lynne ChouO Keefe and Providence Chief Digital Officer Aaron Martin will join Streat on the DexCares Board of Directors.

In a statement, OKeefe makes DexCares’ unique solution that makes digital-enabled care more discoverable and practical for consumers while also effective for healthcare systems, making it a better healthcare system for everyone. It’s a connected solution.

Providence Digital Innovation Group: With 25 employees, DexCare is the third company born of the Digital Innovation Group. Others include Xealth, which raised cash from Cerner last year, and Circle, which was acquired by Wildflower Health.

Providence also operates Providence Ventures, a $ 300 million venture capital fund that invests in early-to-mid-term healthcare companies.

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