Chronometriq rebrands to Pomelo Health, raises $5 million in debt financing

healthtech

Montréal-based Chronometriq, which offers a platform to help health professionals book appointments and manage patients, has rebranded to Pomelo Health and raised $5 million in debt financing.

The debt financing follows Chronometriq’s acquisition of Health Myself.

The financing was raised from CIBC Innovation Banking. The funds will be used to continue Pomelo Health’s “aggressive” merger and acquisition strategy. The latest financing brings the startup’s total funding to date to approximately $25 million.

“Chronometriq has proven that its software is complementary to electronic medical record systems used by health clinics across North America,” said Eric Laflamme, managing director of the Quebec region for CIBC Innovation Banking. “The company’s platform helps digitally connect people to healthcare while reducing wait times, and we’re looking forward to working with their team as they continue to expand.”

The debt financing comes on the heels of Pomelo Health’s acquisition of Toronto-based Health Myself, and the company’s official launch in the United States.

Founded in 2012 as Chronometriq, Pomelo Health offers a healthcare patient management system. The company provides online appointment booking, automated appointment reminders, a self-check-in kiosk, and a virtual waiting room management system, which launched in June. The company also offers a queue management system called MagicSeat, which is available in both Canada and the US.

RELATED: Chronometriq raises $3.5 million to expand health appointment booking platform across North America

The startup’s solution has already integrated with over 500 clinics and Pomelo Health claims to have helped “millions” of patients access care. Pomelo Health’s new brand has been fully launched in the United States, but the startup is still transitioning the rebrand in Canada throughout October.

Among Pomelo Health’s investors are California-based VC firm Bridgescale Partners and New York-based Full In Partners. Pomelo Health’s last round was a $20 million Series B round in 2019. Pomelo Health told BetaKit it is currently working towards raising its Series C round, which is targeted for September 2021.

Image source LinkedIn.

Isabelle Kirkwood

Isabelle Kirkwood

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