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Traditionally , the esthetic and health industry — med spas , dermatologists , plastic surgeons , weighting red clinics , OBGYNS and so on — have leaned on in - person consultations and advertizement hoc selling campaigns to labor business . But the pandemic changed the equation . Now , there ’s an expectation that these concern have a bearing on major digital channel .
Not every pattern has the accomplishment and expertise to build out such presences , however — which is where companies likeRepeatMDcome in . found in 2021 , RepeatMD provides jailer computer software solutions to operators in the aesthetic and health sphere .
“ RepeatMD ’s vendee are small- and average - sized business who require to generate a new tax income flow for their practice , ” Phil Sitter , ReadMD ’s founder and CEO , told TechCrunch in an email interview . “ Our political program allow practitioners to trade their intervention around the clock and enhance the patient buying experience through a mobile app . ”
Sitter , a repetition entrepreneur , bootstrapped RepeatMD profitably until late 2022 , when the startup closed its seed round . He funded RepeatMD in part with the proceeds from VIPinsiders , a Houston - found intellectual nourishment and beverage dedication and rewards programme ( Sitter originates from Houston ) , and a restaurant Sitter owns , the Houston - based brunch and lunch eating house EggHaus Gourmet .
As Sitter allude to , RepeatMD builds apps for aesthetic and wellness businesses — apps that countenance customers sign up and pay for monthly memberships to practices and go back handling . Through an integration with Affirm , customers can give for services in monthly installments if they so choose .
Like many loyalty programme , RepeatMD ’s apps also “ nudge ” customer by sending them notifications with discount fling . Sitter describe these as “ Starbucks Rewards - style ” experience .
“ The aim is to be the Shopify of the aesculapian industriousness , aid medical practice sell more of their elected based procedures , ” Sitter said . “ We ’re seat in algorithmic solution to streamline the recitation onboarding mental process and enhance the patient buying experience , make it easy for patients to discover treatments that fit their goals . ”
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It looks like a gain ground scheme for RepeatMD . The company claim to now serve over 3,500 practices and 700,000 users , and RepeatMD ’s software - as - a - service revenue increase 130 % over the preceding year , according to Sitter .
That ’s piqued investor ’ interest . Today , RepeatMD announced that it has grow $ 40 million in a support round of drinks led by Centana Growth Partners and Full In Partners , with participation from Proof and Mercury Fund , along with a $ 10 million loanword from Silicon Valley Bank . ( Sitter says the loan was receive on “ favorable terms . ” )
The new capital , which brings RepeatMD ’s total set up to $ 56 million , will be used to develop the inauguration ’s electronic connection of partners , establish out RepeatMD ’s political platform and elaborate the company ’s team of around 130 employee to more than 150 by the end of the yr , Sitter say .
“ RepeatMD has seen monumental quickening of its product during the last 12 - months as practice are looking for new style to generate revenue , ” he added . “ We bring in new revenue for practices and the reward program solves patient retention . ”
