Practice Better Raises $27 Million To Grow Business Management Software for Wellness Professionals
Practice Better’s platform is designed to help health and wellness practitioners who want to save time, reduce administrative burdens and provide better care to their clients
Practice Better, a leading all-in-one practice management software platform for health and wellness professionals, announced that it has secured a $27 million growth investment led by Five Elms Capital.
The investment will support the development of new integrations and strategic partnerships, as well as enhanced product features to help health professionals sustainably scale their businesses and deliver better client care. The company plans to invest in expanding its go-to-market (GTM), customer-facing and tech teams to better support its growing customer base.
Practice Better was co-founded in 2016 by Nathalie Garcia, who created the platform to solve her own challenge of building a client-centric nutrition practice sustainably. In 2021, the company received a $1 million investment from Disruption Ventures.
Since its founding, Practice Better has evolved into a comprehensive practice management software solution for health and wellness practitioners, with over 10,000 customers in over 70 countries globally. Its features include scheduling and appointment management, telehealth, charting, billing, client engagement, online programs, payment processing and more.
The platform is designed to help practitioners who want to save time, reduce administrative burdens and provide better care to their clients. It also empowers wellness professionals to streamline admin work, engage clients and scale their practices beyond the traditional 1:1 model.
“The platform empowers professionals to efficiently manage their business operations while also providing client-facing tools to deliver superior wellness care through increased engagement and accountability,” Garcia told Athletech News.
“Practice Better was designed to play a dual role in supporting both audiences, which has been a core pillar of our product strategy since the very beginning,” she added.
The company has recorded a 300% compound annual growth rate (CAGR) since its inception, with over 65% of its customer growth coming from word of mouth and referrals. The investment will enable Practice Better to expand its product capabilities and welcome new strategic partnerships that will further enable its customers to deliver more supportive wellness care.
On the challenges facing the healthcare space today, Garcia stated, “Practitioners and coaches have to balance managing their business operations with providing ongoing client care. As a result, practitioners and coaches spend far too many unpaid hours on admin tasks such as scheduling, billing, intake forms, sharing recommendations, client communications and much more. This tension undermines their bandwidth, their ability to effectively support their clients and the opportunity to scale their impact.”
“Unlike other tools, Practice Better helps both practitioners and their clients be more successful,” Garcia added.