Free Electronic Medical Records Service Practice Fusion Raises $23 Million

Practice Fusion, a web-based electronic medical records and healthcare community, announced this morning that it has closed an impressive $23 million series B round of funding. The round was led by Founders Fund, with participation from Artis Capital Management and Glynn Capital Management, as well as returning investors Morgenthaler Ventures and Felicis Ventures. The healthcare community adds to the $7 million in funding it raised in August 2009 and January 2010, bringing its total funding to $30 million.

Launched in 2007, Practice Fusion allows doctors across the country to chart patient visits, review records, schedule appointments, prescribe medications electronically, order and receive lab tests, and connect patients to their health data — all in realtime. Unlike legacy electronic medical records systems that charged doctors exorbitant fees, Practice Fusion’s web-based system is free to health care providers and lives in the cloud.


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