Rater8 Receives Significant Growth Investment from Elsewhere Partners
Elsewhere Partners is excited to announce a significant growth investment in rater8, a leading provider of healthcare reputation management and patient feedback solutions. Along with the investment, Elsewhere Operating Partner Michele Perry will join the board as Executive Chairman. Additionally, Operating Advisors Robbie Abt and Joel Dolisy will serve as advisors to rater8.
rater8, based in Montvale, New Jersey, provides healthcare reputation management and patient feedback solutions to hundreds of practices and hospitals of all sizes and specialties. Purpose-built for the healthcare market, rater8 helps providers build online visibility, manage their reputation, attract more patients, improve patient satisfaction and enhance operational performance.
“As the healthcare sector evolves, healthtech innovators are clamoring to carve out their niche in an increasingly crowded space. Many will fail, but those who thrive will transform patient experience and practice management. rater8 has grown into a formidable leader in the patient management evolution – building a solution that addresses core industry pain points, growing an incredibly satisfied customer base and continuously outperforming competitors that simply can’t stack up,” said Michele Perry, operating partner, Elsewhere Partners. “The patient feedback market is ready for disruption. We see tremendous opportunity for growth as rater8 further broadens the capabilities of its platform and grows its team to support demand. I have no doubt that the rater8 team will continue to raise the bar for patient feedback solutions and help drive better outcomes for both practices and patients.”
rater8 founder and CEO, Evan Steele, will continue to lead rater8 in its next phase of growth. “Patient feedback is finally getting the focus it deserves. We’ve designed every aspect of our solutions to help practices understand performance and take the right steps to effectively improve their reputation and raise the standard for patient satisfaction,” stated Evan. “To best serve both our current customers and meet the demand of the market, we needed an investment partner with a shared vision who would be able to guide our next phase of growth. Elsewhere Partners is providing not only the capital, but also the deep ecosystem of advisors needed to help us rapidly, and properly, scale to meet the needs of the healthcare industry.”
Prior to Elsewhere’s investment, rater8 grew organically as a bootstrapped, profitable startup. rater8 will use the growth financing to further expand its market reach to medical practices and hospitals of all types and sizes, while continuing to build out its team, deepen industry partnerships and enhance its award-winning SaaS solutions to meet the changing needs of patients and the modern healthcare community.
For more information about the investment, read the full press release and additional coverage here.