What Our $30M Series B Means For Healthcare: A Message from Our CEO

We’ve got a simple yet ambitious mission at Freshpaint: Unlock high-performance marketing for healthcare companies without compromising sensitive data. If you’ve been along for the ride over the last few years you’ll know that we’ve followed through on that promise, helping teams at hundreds of healthcare organizations (maybe yours!) build a privacy-first foundation to reach and engage consumers.

The journey turned into a rocketship last year resulting in Freshpaint being one of the fastest-growing software companies in 2023, and we were highly capital-efficient along the way. But we want to do more for healthcare, so we raised $30M in Series B funding led by Threshold with additional participation from SignalFire, Intel Capital, Zero Prime, and Y Combinator, bringing Freshpaint’s total funding to date to $42 million.

Given Freshpaint’s success and financial health, this raises a big question: Why are we raising more capital? It turns out that the healthcare privacy puzzle is affecting more organizations and becoming more complex every day. We have an ambitious roadmap to solve it, but big plans require resources.

Hospitals aren’t the only organizations that need to be cautious about how they handle data. Everybody who operates in the healthcare ecosystem is under immense pressure to follow privacy regulations—and the rulebook is evolving faster than most marketing teams can keep up with.

Our path forward is clear: We need to expand our reach to ensure every healthcare organization can modernize its marketing while safeguarding sensitive information. This includes health insurance providers, pharmacies, retail healthcare companies, and beyond.

We’re solving the compliance problem every day for our customers. But there’s also an urgent need to modernize healthcare marketing tech stacks. Too many organizations have their hands tied with outdated tools that underperform, put sensitive data at risk, or both. Freshpaint is in a unique position to build the future of healthcare marketing. To keep up with these evolving needs, we need to invest in our people and expand our technology.

Our vision to modernize healthcare goes far beyond helping organizations stay compliant with privacy requirements or optimize their marketing campaigns. It’s about creating a healthier society as a whole. We imagine a world where women over 40 are automatically reminded to start annual breast cancer screenings. Or where patients with specific conditions receive timely reminders for tests and check-ups tailored to their needs.

If our team executes to its fullest potential, we’ll play a small yet crucial part in this turning point. This new round of funding isn’t just an investment in Freshpaint—it’s an investment in the health of our communities and loved ones. We feel truly lucky to be on this journey together with our team, our investors, and our partners, and we look forward to sharing many more milestones to come.

Mohana Ravindranath wrote more about our recent round of funding in STAT.