Below is a copy of the announcement Cypress Growth Capital made Wednesday, August 2, about the exciting news of its investment in ChartSquad.
Cypress Growth Capital is pleased to announce investment in ChartSquad, a Utah-based company providing a software platform that makes obtaining medical records simple, secure, fast, and far less expensive than traditional solutions.
Launched in 2016, ChartSquad enables patients or their legal representatives to retrieve and manage electronic medical records (EMRs), diagnostic testing, billing, prescription history, EMR audit trails, and more. Their software-enabled platform is disrupting the $10 billion a year medical records release industry by empowering patients to directly and efficiently share and administer their protected health information.
“The founders’ experience with both the legal and healthcare records markets makes ChartSquad uniquely qualified to address the needs of all parties involved in class actions and torts,” said Cypress Partner Vincent Hsieh. “With no outside capital, ChartSquad
“Cypress’ non-dilutive solution was a great fit, providing us the capital we need to scale the business while knowing the Cypress team is there to help.”
Chris Carpenter, Founder and CEO
ChartSquad’s Founder & CEO, Chris Carpenter, discussed why he sought equity- preserving funding from Cypress to propel his company’s growth: “Being bootstrapped, I had been searching for a true capital partner that understood not only my model but my ethos. Cypress’ non-dilutive solution was a great fit, providing us the capital we need to scale the business while knowing the Cypress team is there to help.”
For an entrepreneur considering growth funding, Cypress Growth Capital provides an innovative alternative to equity and traditional debt. The firm invests up to $5M in emerging software and services companies using a royalty-based approach that preserves an entrepreneur's equity and control.
With more than 50 investments in premier software and technology-enabled services companies since 2011, Cypress offers a flexible, patient form of capital that is well-suited to the unique financing needs of fast-growing companies.
Offering more than just capital, GCG partners have extensive operating experience and bring useful, practical assistance to portfolio companies.