REDWOOD CITY, Calif., (Jan. 5, 2017 ) — Reputation.com, the leading provider of Online Reputation Management (ORM) technology and services, today announced that it has received a significant investment from Ascension Ventures, a prominent strategic healthcare fund which is funded by many of the nation’s leading non-profit health care systems.
Together with additional investments from existing major backers — including August Capital, Bessemer Venture Partners, Icon Ventures, Kleiner Perkins, and Focus Ventures — the new round of funding totals $20 million.
“Our health system partners are seeing a shift in the way patients decide where and from whom they receive care and are turning to the same channels they rely on for other consumer purchasing decisions to share their experiences — online reviews and social media,” said Matt Hermann, senior managing director of Ascension Ventures. “Reputation.com offers a comprehensive set of data automation and workflow tools that enable any healthcare organization to effectively and efficiently engage patients in these online interactions at scale, as well as deliver the analytics tools to uncover leading indicators of the patient experience in order to improve clinical and operational performance.”
“This investment demonstrates real confidence in the ability of our cloud-based reputation management platform to provide large healthcare systems with mission-critical patient feedback, right down to individual facilities and providers,” said Shrey Bhatia, Reputation.com’s President and CEO.
“In an environment where consumer choice increasingly determines financial performance,” Bhatia said, “technology that enlists the voice of the customer is now critical to attracting new patients and driving revenue. Our platform also delivers detailed insights that enable service providers in healthcare to continuously improve their operating performance at scale.”
Reputation.com pioneered the Online Reputation Management category in 2006. Its technology has managed tens of millions of consumer reviews and interactions across hundreds of thousands of online points of presence for many of the largest companies spanning 77 industry verticals, including healthcare, retail, automotive, restaurants, and others.
The Reputation.com platform, with over 20 patents awarded, helps enterprise businesses:
Engage consumers more effectively by aggregating all feedback—whether it originates from a review site, social media community, or mobile survey—into an enterprise dashboard that supports a comprehensive view of a practitioner and facility reputation.
Respond to consumer feedback from a single interface, to speed issue resolution and improve patient satisfaction.
Promote a business’ reputation by syndicating reviews and direct survey results to practitioner and location web pages and online communities.
Transform a business’ operations by leveraging sophisticated analytics to mine online conversations for systematic trends in consumer experience, spot areas for operational improvement, and prompt corrective action.
About Ascension Ventures
Ascension Ventures (www.ascensionventures.org) is a strategic healthcare venture firm with four funds and more than $800 million in capital under management. The firm is a wholly owned subsidiary of Ascension, the nation’s largest Catholic and non-profit health system. Ascension Ventures’ role is to construct and manage a strategic portfolio of investments that deliver venture-level investment returns, have the potential to transform the healthcare industry, and significantly enhance the experience for patients, their families, and their caregivers. Its health system limited partners operate 474 hospitals, have 578,000 employees and generate $88 billion in annual revenue.
Reputation.com, Inc., based in Silicon Valley, is the leading provider of Online Reputation Management services for the enterprise market. With its SaaS platform, businesses across the Americas, Europe, and Asia-Pacific gain actionable insights that help them make operational improvements and drive revenue.
Reputation.com is a World Economic Forum Global Growth Company and is funded by the same top-tier venture capital firms that backed Google, Facebook, Cisco and Microsoft.