Rivia Health Raises $3.25 Million in Series Seed Funding with PHX Ventures

Rivia Health announces a $3.25 million Series Seed funding round led by PHX Ventures. The new funding will be used to strategically position Rivia Health to assist patients in navigating the challenges of paying medical bills by simplifying patient payments.

PHOENIX, Feb. 3, 2024 /PRNewswire-PRWeb/ -- Rivia Health, a revenue cycle management solution for healthcare provider organizations, announces a $3.25 million Series Seed funding round led by PHX Ventures. The new funding will be used to expand Rivia Health's patient payment solution and enter new markets across the country.

"We invest in purpose-driven founders building high-growth software companies. Rachel and Elizabeth have built a solution that is clearly needed in the market, proven by 500 percent growth in 2023. This is a strong team building a great company," said Gregg Scoresby, Founder & Managing Partner at PHX Ventures.

Rivia Health is streamlining the patient payment process with an intelligent revenue cycle management platform. Utilizing digital communications, smart messaging, and easy payment tools, Rivia Health removes common barriers to collections, enabling patients to pay bills seamlessly. By both facilitating payments and integrating effortlessly into existing systems, Rivia Health improves efficiency and the bottom line for providers.

"Gregg and the whole team at PHX Ventures have already been incredible partners," said Rachel Mertensmeyer, CEO and Co-Founder of Rivia Health. "Their expertise in B2B SaaS has been a real benefit for us as we focus on expanding our platform and market," said Elizabeth Furst, COO and Co-Founder of Rivia Health. Elizabeth and Rachel said, "We are honored to join the PHX Ventures portfolio and look forward to working with them to further Rivia Health's mission of bringing ease and efficiency to patient payments."

As the healthcare digital payment market grows exponentially amidst continuously rising healthcare costs, Rivia Health is strategically positioned to assist patients in navigating the challenges of paying medical bills by simplifying payments.

About Rivia Health

Founded in 2018, Rivia Health brings easeful efficiency to healthcare patient payments. We work with healthcare providers to streamline revenue cycle operations through our intelligent communication and payment platform. By automating workflows for appointment reminders, billing notifications, and payment plans, Rivia Health alleviates staff overwhelm and saves valuable time. Our patient-friendly solutions make it simpler for patients to pay medical bills across multiple channels using text, email, and a frictionless 3-step payment process. Rivia Health complements existing systems to get healthcare providers paid faster while doing less. With significant growth projected in the healthcare market, our mission is to simplify medical billing and payments for both patients and providers. Rivia Health is a remote-first company headquartered in Phoenix, AZ. For more information on our healthcare revenue cycle solutions, visit www.riviahealth.com.

About PHX Ventures:

PHX Ventures was created by former software founders. Most of our investors are current or former software entrepreneurs and operators who have successfully scaled venture-backed software companies. B2B software is all we do. We understand the struggles of starting and scaling high-growth software ventures. But we also understand how sustainable growth companies can transform communities for good, and we're here for it.

Media Contact

Rachel Mertensmeyer, Rivia Health, 1 917-828-2695, [email protected], www.riviahealth.com

SOURCE Rivia Health