REDWOOD CITY, Calif.(Mar 28, 2017) — Reputation.com, the leading Online Reputation Management (ORM) platform, today announced the closing of its latest financing round with funding from Heritage Group. The investment comes from Heritage’s second Healthcare Innovation Fund, which is backed by 14 leading healthcare organizations in the United States, including Adventist Health System, Community Health Systems, Intermountain Healthcare, Sutter Health, and Tenet Health.
According to the Journal of American Medicine (JAMA), over half of consumers consider online reviews important in their choice of a hospital or provider. Online review volume, recency, and sentiment have a significant impact on search engine rankings, and either reinforce consumers’ opinion of a provider — or drive them to alternatives. This trend is expected to accelerate: Millennials are twice as likely as boomers to trust online reviews over word of mouth, according to Reputation.com research.
Reputation.com’s intelligent, automated platform empowers organizations to address the shift in the way consumers decide where they go for care. By monitoring and responding to reviews, and tapping into vast quantities of patient experience data and sentiment, healthcare organizations are better able to make systematic improvements in the delivery of care and improve their reputation online.
“Our investor base includes over 600 hospitals and 65,000 physicians who are highly focused on supporting consumers in their purchasing decisions,” said Paul Wallace, Managing Director of Heritage Group. “The comprehensive suite of solutions offered by Reputation.com is uniquely positioned to allow healthcare providers to improve operational performance and patient satisfaction. We are very pleased to be partnering with Reputation.com to extend their lead in Online Reputation Management for healthcare companies.”
“Reputation.com continues to experience explosive growth because we’re at the center of two powerful trends in healthcare,” said Shrey Bhatia, Reputation.com’s President and CEO. “First, high-deductible plans and escalating costs are prompting patients to make more careful choices about where they seek care. And second, the accelerating proliferation of online points of presence is generating massive quantities of patient experience data that can be analyzed and put to work to improve delivery. We are at the vanguard of these trends.”
To learn more about how Reputation.com helps healthcare and 77 other industries make operational improvements, improve online reputation and drive revenue, visit www.reputation.com.
About Heritage Group
Heritage Group is a Nashville-based, healthcare-exclusive, venture capital firm with more than 30 years of experience financing and operating healthcare companies at all stages. With more than $400 million under management in the firm’s strategic funds, Heritage provides capital and unique growth opportunities to businesses that improve the delivery of healthcare services. The firm’s strategic partners represent a diverse group of the nation’s leading healthcare organizations, including nine health systems that account for over 600 acute care facilities and $85 billion in net patient revenue and seven health plans that cover more than 20 million lives. For more information, visit HeritageGroupUSA.com.
Reputation.com, Inc., based in Silicon Valley, pioneered Online Reputation Management (ORM) technology for the enterprise market in 2006. With its SaaS platform, businesses across the Americas, Europe and Asia Pacific gain actionable insights that help them make operational improvements, improve online reputation and drive revenue.
Reputation.com technology has managed tens of millions of consumer reviews and interactions across hundreds of thousands of online points of presence for global companies spanning 77 industry verticals, including healthcare, retail, automotive, restaurants and others.
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. To learn more, visit www.reputation.com