Praia Health an Independent Company, Secures$20 million in new funding from Providence Incubator

Praia Health
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The Providence health tech incubator has facilitated the emergence of Praia Health as an independent entity, with the startup announcing $20 million in new funding on Tuesday.

Praia Health has developed a platform powering patient portals, enabling individuals to monitor appointments, test results, medications, and communications with healthcare providers across various institutions. The aim is to enhance the patient experience by curating a personalized profile tailored to individual needs, utilizing insights from their interactions with the portal.

Sara Vaezy, Providence’s chief strategy and digital officer, highlighted the platform’s agility in swiftly incorporating new targeted features for patients, emphasizing its ability to adapt to evolving needs.

Providence, a Catholic nonprofit healthcare system headquartered in Renton, Wash., operates in seven states and hosts its own startup incubator, the Providence Digital Innovation Group. Praia originated within this program and commenced internal operations in early 2022.

Under the leadership of CEO Justin Dearborn, who has previously spearheaded ventures like PatientBond, Tribune Publishing Company, and Merge Healthcare, Praia launches as an independent entity with 27 employees.

The Series A funding round, led by healthcare-focused firm Frist Cressey Ventures, received backing from SignalFire, Epsilon Health Investors, and Providence Ventures. Praia’s technology will continue to be utilized by Providence, with Indiana’s Community Health Network becoming the first external customer for the Praia Health Consumer Platform. Presently, the tech serves over 3.5 million users.

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