Form D Filing Underscores Investors’ Expansion Goals for Rev360

By


MADISON, Wis.—In a sign of support for the growth prospects of the software and services firm Rev360, investors have provided $45.2 million in financing over the past two years to the Madison-based company, which is best known for delivering RevolutionEHR, cloud-based practice management and electronic health record (EHR) software for eyecare professionals.

The investment became public in a federal Form D filing late last month, and was initiated in October 2014 by a newly formed private investment group headed by executive chairman Gunnar Bjorklund, as VMail reported.

That investment group, now known as Rev360, contributed about $40 million of the financing in 2014 and subsequently added another $4 million in additional financing, according to Scott Jens, OD, FAAO, chief executive of Rev360 and business partner of Bjorklund.

Jens told VMail this week that Rev360 is growing and expects to become “a force to reckon with in support of the ECP” in its sector. It will deploy the investment financing—as well as anticipated new capital from the investment group—to “execute on the promise” to drive efficiency and profitability for the ECPs using its software and array of other business services. He declined to provide additional details on future investment in the business.

Rev360 services include RevAspire for submitting quality reports, and RevCycle for administering claims management.

Earlier this year, RevolutionEHR announced the acquisition of Getwell, another provider of cloud-based EHR and practice-management software to ECPs, as VMail reported.

RevolutionEHR ranks No. 1799 on Inc. magazine’s 2016 list of the 5,000 fastest-growing companies with estimated annual revenue of $10.8 million and three-year growth rate of 207 percent. It is the fifth consecutive year the company has made this list.

“The goal of Rev360 is to deliver profitability and joy to those practices using RevolutionEHR, because eye doctors who see patients need to have partners in practice who can support their business and clinical strategies—and a software-centered approach to helping the ECP is how we aim to serve the ECP,” Jens said.