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SocialClimb Secures $8.5 Million in Growth Funding from Spring Capital and Resolve Growth Partners
LEHI, Utah, Nov. 8, 2022 -- SocialClimb, a leading Software-as-a-Service Healthcare Marketing Platform, announced today that they raised $8.5 million of growth capital from Spring Capital Partners and Resolve Growth Partners to further accelerate growth. Over the past two years, the Company has continued its expansion upmarket to larger practices and hospital groups. This investment will focus on driving additional product development and market expansion into those segments.
Since founding, the SocialClimb platform has interacted with millions of patients per month to attract them to practices and physicians that can help improve their health. The number of patients influenced by SocialClimb to drive better healthcare continues to double at an aggressive pace and this investment will further accelerate the pace of growth.
"We are very excited about the growth of our business over the past two years. This latest round of funding with Spring Capital and Resolve is further validation of the large and growing market opportunity for us," said Ty Allen, SocialClimb CEO. "This capital will enable us to continue our innovation and aggressive growth."
The SocialClimb Healthcare Marketing Platform enables physician-owned practices, Private Equity owned practices, and large hospital groups to strategically and cost-effectively acquire new patients. SocialClimb's suite of marketing tools enables digital marketing for individual physicians at scale and drives patient acquisition and growth.
"SocialClimb's platform allows healthcare groups to identify and target prospective patients in HIPAA-compliant and unique ways. The platform tracks patient acquisition costs from marketing efforts down to an individual patient name – gone are the days of marketing guesswork in healthcare. Spring Capital is excited to partner with SocialClimb as they continue to transform healthcare marketing through innovation." said Chad Rigdon, Director at Spring Capital.
SocialClimb's SaaS platform services thousands of physicians and practices nationwide to improve their digital presence, target new patients, and hit aggressive growth goals. For more information about SocialClimb, call 866-338-8270 or visit SocialClimb.com.
SocialClimb helps healthcare providers target and attract patients by improving their reputations, dominating local search, and growing the value of their healthcare facility no matter how large or small. In addition to helping providers collect reviews and improve their rankings, its industry-leading platform uses deep analytics to deliver targeted reputation ads to attract the most profitable patients. Learn more about SocialClimb at SocialClimb.com.
About Spring Capital Partners
Spring Capital Partners was founded in 1999 to provide mezzanine capital to growing small and medium-sized businesses. The firm has managed over $600 million of capital and is currently investing out of its fourth fund, Spring Capital Partners IV, a $250 million SBIC. Investments are made in the form of subordinated debt and minority equity, typically in the range of $2 million to $20 million per investment. In addition to investing in change of control/buyout transactions with committed private equity funds and independent sponsors, Spring Capital also provides capital to privately held businesses to support acquisitions, growth, and minority recapitalizations. For more information on Spring, visit springcap.com
About Resolve Growth Partners
Resolve Growth Partners is a growth equity firm focused on investing in B2B software companies and enabling passionate, committed entrepreneurs to accelerate growth. Resolve provides expertise and repeatable best practices across talent, go-to-market, and operations. For more information on Resolve, visit resolvegrowth.com