Roundtrip, a company offering a non-emergency medical transportation solution, has raised a $5.14 Series A round, according to a news release sent to MedCity.
Motley Fool Ventures led the round, while Ben Franklin Technology Partners of Southeastern Pennsylvania and Johns Hopkins University participated. According to the release, “a multi-billion dollar international healthcare software and medical device company” participated as well.
“Our partnership with Motley Fool Ventures was by design – their reach is wide, and their expansive base in healthcare and scaling marketplace models gives us the financial and knowledge reinforcement to eliminate transportation as the barrier to care,” Roundtrip founder and CEO Mark Switaj said in a statement.
The Philadelphia-based startup intends to use the funding to boost its software capabilities and add employees to its sales, engineering and account management teams. The company, which currently has 26 employees across its offices in Philadelphia and Richmond, Virginia, plans to more than double in size.
Founded in 2016, Roundtrip offers a product that lets healthcare professionals (such as care coordinators, nurses, social workers and others) order rides for patients in non-emergency situations. They can set up the rides on demand or in advance and can book various types of transportation, including Lyfts, medical cars, wheelchair vans and stretcher vehicles. After the ride is scheduled, Roundtrip can send the patient reminders via voice or text.
The company’s goals include reducing patient no-shows, improving the patient experience and reducing unnecessary readmissions.
“Having provided medical transport care firsthand, we knew the solution is found by unifying data from three key sources: the patient’s medical record and healthcare provider, the current medical transportation options and rideshare companies, and the appropriate payer, while keeping the patient and care team at the center of our hub,” Switaj noted in the statement.
Roundtrip has partnered with a variety of organizations, including Lyft and Saint Peter’s Healthcare System in New Jersey.
A little more than one year ago, the Philadelphia startup secured a $1.9 million seed round. Investors included Ben Franklin Technology Partners of Southeastern Pennsylvania, Abell Foundation, Brown Advisory and Johns Hopkins University.
Aside from Roundtrip, additional players in the NEMT space include Uber, Circulation (which was acquired by LogistiCare) and Ford Motor Company.
Photo: AGrigorjeva, Getty Images
