Loyal Closes $33.5M Series B Funding

Loyal, an Atlanta, GA-based healthcare technology company focused on digital patient engagement, raised $33.5M in Series B funding.

Backers included Concord Health Partners and multiple strategic investors.

The company intends to use the funds to provide resources to expand its customer base and product development, support customer success and accelerate growth.

Founded by Chad Mallory, Loyal provides a consumer experience platform for improved care utilization. Used by the nation’s health systems and hospitals, its AI-powered solution makes it easier for patients to connect and access care across their entire health journey, thereby driving loyalty with their trusted health provider.

The platform has a customer base of 38 health systems.

Chad Mallory has decided to step down from his position as Chairman and CEO, with the full support of the Board, to transition into a Senior Advisor role, effective July 26. Saurabh Sinha, Founder and Chairman of the Board of Directors of Emids Technologies, has been appointed Chairman of the Loyal Board of Directors and will help lead an effort to recruit additional expertise to Loyal and build on the success of the Company. Additionally, Mark Hipp has joined the Loyal Board of Directors, bringing extensive experience in advising high-growth technology enabled businesses.

FinSMEs

22/07/2024