RepeatMD, a software-as-a-service (SaaS) company focusing on Inbound Revenue to drive sales for aesthetic and wellness practices, has successfully raised $50 million in a Series A funding round. This includes a $10 million debt facility from Silicon Valley Bank. The funding was co-led by Centana Growth Partners and Full In Partners, with participation from PROOF. RepeatMD’s platform aims to enhance revenue efficiency for growing practices and improve patient experiences.
The Series A funding comes as RepeatMD experiences notable growth, having previously secured seed financing just nine months ago. The company’s platform caters to the booming medical industry, particularly in the aesthetics and wellness sector. The funds will be used to expand RepeatMD’s network of strategic partners, enhance its product offerings, and integrate artificial intelligence to further enhance the patient shopping experience while scaling its Inbound Revenue Platform.
The healthcare industry, especially in the United States, has seen significant growth in the aesthetics and wellness segment, with the med spa market projected to reach $19 billion this year. RepeatMD addresses the challenges faced by practices in selling new and unfamiliar treatments by providing modern software solutions and e-commerce tools. The company’s Inbound Revenue Platform combines loyalty, e-commerce, and patient financing solutions to create a unified patient experience and generate revenue automatically.
Phil Sitter, Founder & CEO of RepeatMD, stated, “Our goal at RepeatMD is to give these practice owners the technology to elevate their patients’ experience. Our platform serves as a med-commerce engine equipped with the same firepower as large retailers to convert sales inside and outside of practice operating hours.”
RepeatMD currently serves over 2,500 medical, aesthetic, and wellness practices across all 50 states, with partnerships established with major medical and aesthetic laser manufacturers. The company has reported substantial growth in the past 12 months, with a significant increase in Gross Merchandise Value (GMV) revenue and Software-as-a-Service (SaaS) revenue. The latest funding round highlights the industry’s recognition of RepeatMD’s innovative approach to revenue automation in the aesthetics and wellness space.