Communications as a Service (CaaS) Industry News

TMCNet:  Weave Closes $17 Million Series B-1 Funding Led by Catalyst Investors

[September 07, 2017]

Weave Closes $17 Million Series B-1 Funding Led by Catalyst Investors

Weave Communications, Inc., a unified patient communication technology platform, completed a $17 million Series B-1 funding led by growth equity firm Catalyst Investors. Existing investors Crosslink Capital and Pelion Venture Partners participated in the round. The new capital will help expand go-to-market efforts and continue product and network development. Catalyst partner Tyler Newton has joined Weave's Board of Directors.

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Weave provides voice, SMS, email and marketing services to dental and optometry offices. Its unified communications as a service (UCaaS) product combines VoIP phone service with a customer service application that integrates with customer data from existing practice management software to help manage patient reminders, initiate phone calls, engage in two-way texting, solicit customer revews and other customer relationship management functions. The company serves more than 3,600 dentists and optometrists across the country.

"We built Weave on the belief that doctor-patient relationships matter. Our technology makes running a practice's front office easy and strengthens the interaction with patients," said Brandon Rodman, CEO and founder of Weave. "Catalyst is an ideal partner to help expand our customer base given the team's extensive experience with SaaS (News - Alert) and communications businesses and its domain expertise in the SMB and healthcare markets."

"With Weave's rapid growth and excellent product set, the company is a natural fit with our investment strategy and in particular our interest in vertical SaaS applications for small and medium-sized businesses," said Newton. "We look forward to working with Weave's dynamic and talented team as they ramp up their penetration within the health care and wellness markets."

About Weave

Weave launched in 2014 to help bring local dental offices closer to the patients they serve by combining patient information with modern communication tools. In the last three years, Weave has diversified its service offerings and grown into other industries. Weave is backed by Y Combinator, SV Angel, A Capital, Homebrew, Crosslink Capital, Pelion Ventures, and Catalyst Investors. For more information, visit www.getweave.com.

About Catalyst Investors

Catalyst Investors is a growth equity firm founded in 2000. Catalyst's mission is to earn superior returns by helping entrepreneurs build great growth companies. Catalyst employs a rigorous top-down research focus that seeks to identify investment opportunities in companies and industries that will exhibit strong revenue growth. The firm works in true partnership with talented management teams to build long-term value. Past and present Catalyst portfolio companies include SaaS-based businesses (Ascentis, Fusion Risk Management, Jobvite, MessageLabs, MINDBODY (News - Alert)), Healthcare IT (Clinicient, PresenceLearning), AdTech/Marketing (Conductor, MediaMath, Videology, WeddingWire) and Internet Infrastructure (InSite Wireless Group, Latisys, Xplornet). For more information, visit www.catalyst.com.


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