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Parachute Health Raises $9.5 Million in New Funding

Parachute Health Raises $9.5 Million in New Funding

Healthcare technology platform Parachute Health acquired $9.5 million in new funding to expand its leading ePrescribing platform into key markets across the United States.

Parachute offers an all-digital solution for ordering medical equipment and services that patients need after they are discharged from the hospital, such as oxygen tanks, wheelchairs, and medical supplies. According to the company, Parachute fully integrates into electronic medical record systems, including Epic, and is used by the Hospital for Special Surgery, Visiting Nurse Service of New York, and Stanford Hospital.

The new funding round was led by Harley Miller and Dan Ahrens of Insight Venture Partners, and includes investments from GNYHA Ventures (the business arm of the Greater New York Hospital Association), and Anthony Welters, formerly of UnitedHealth Group. Parachute previously raised $5.5 million in funding from investors including Loeb Holding Corporation.