Canvas Medical achieves ONC certification, raises $24m to power clinicians and developers scaling digital health companies
Canvas Medical, the EMR that enables clinicians and developers to power the future of care delivery, raised $24 million in Series B funding led by M13 with participation from Haystack and previous investors Inspired Capital, IA Ventures, Upfront Ventures, and Irongrey. Canvas provides a full-stack ambulatory EMR and digital health developer platform, enabling both established and startup healthcare providers to launch new patient experiences and business models faster.
In addition to this funding, Canvas has achieved federal certification through the Office of the National Coordinator for Health Information Technology (ONC). The ONC certification represents a major product milestone for the company: Canvas is one of the first EMRs in the United States to support a standardized patient data API as envisioned by the 21st Century Cures Act. Additionally, with this certification, Canvas customers are now eligible for value-based payment models in Medicare and Medicaid programs, as well as many commercial value-based programs.
Andrew Hines, Founder and CEO, Canvas Medical: "The healthcare industry is at an inflection point: software developers are now de facto members of the care team at leading care delivery companies. With new entrants coming to market daily and established players investing in innovation, Canvas is a best-in-class platform partner for the full spectrum of those building new models of care. It is inspiring to see at each of our customer organizations how their clinicians and developers work together in Canvas to build and refine the best possible model of care for the patients they serve."
Founded in 2015, Canvas is reimagining the EMR for the future of healthcare. Customers include care delivery companies like a mental health startup that uses Canvas to create custom clinical pathways, support telehealth scheduling and charting, and drive care team collaboration with their patient app); and a primary care provider for adults 65+ that uses Canvas to embed clinical workflows into the point of care and enables patients to communicate with providers through Canvas's APIs. Canvas's suite of products are highly customizable by developers, seamless for providers, and give care delivery companies full control over their patient experience.
Latif Peracha, General Partner, M13: "We are thrilled to lead the Series B in Canvas Medical. Canvas serves digital-enabled care-delivery companies and fosters developer-caregiver collaboration to design and implement better care models for patients. Canvas is building the enabling infrastructure to power the entire digital health market, and we believe they will win by driving competition among services and applications that touch the end patient. Canvas's ONC Certification is a significant milestone that sets Canvas apart from other modern EMRs and is a testament to the maturity of their product."
Chris Hogg, Founder and CEO, Marley Medical: "Canvas has enabled us to get our care delivery operations up and running much faster and with far less resourcing than we possibly could have done with any other EMR. As a provider to patients with complex chronic disease, including patients on Medicare, the Canvas team's commitment to achieving ONC Certification was a critical part of our decision to work together."
Since launching its self-serve suite of developer tools last fall, Canvas has seen more than 300% growth in customer accounts. With this funding, Canvas will continue to invest in bringing additional enterprise-grade capabilities to market, including security and governance features that put Canvas at the cutting-edge of extensibility and interoperability