LEHI — Weave, a customer experience management platform that specializes in patient interactions for dentists and optometrists, announced $37.5 million in new funding this week.
The Series C round, led by growth equity firm Lead Edge Capital, brings Weave's total funding since its launch in 2008 to well over $70 million, according to Crunchbase data.
The company said its platform integrates with a practice's existing customer relationship management software and "enables businesses to form stronger relationships with the people they serve." Weave provides tools that include text messaging, email, marketing capabilities and a proprietary VoIP — or voice over internet protocol — phone service.
Weave co-founder and CEO Brandon Rodman said his company's product elevates efficiency while also creating a more personalized experience for users' patients.
"We believe that in most service-oriented businesses … the key to success isn't measured in dollars," Rodman said in a statement. "Revenue is a byproduct to building real customer relationships."
"Weave's platform makes this interaction as seamless and as natural as possible by providing a personal touch that results in increased productivity and profitability, and brings customers and businesses back together."
The Weave platform is used by thousands of small- and medium-size businesses across the U.S. and the company is experiencing stellar growth. While Weave saw a growth rate of 55 percent in 2017, the company expects to hit 100 percent growth in 2018.
While the new funding effort was headed by New York City-based Lead Edge Capital, Utah venture capital firm Pelion Venture Partners participated and was also involved with Weave's last round of venture investment.
Pelion managing partner Blake Modersitzki said Weave's growth is helping drive his firm's continued enthusiasm for backing the platform.Comment on this story
"We invested in Weave in the early days and have been thoroughly impressed with their tremendous growth," Modersitzki said. "This new round of funding will allow the company to continue its trajectory and enable it to enter new markets."
In a customer testimonial, Dr. Todd Snyder, a dentist, said Weave has helped him manage and improve customer relations at his small California practice.
"I have a very lean office … and I want to see efficiency," Snyder said. "So, giving my front desk, my one employee I have up there, the power to do everything instantly with this tool is what (Weave) offers my front office."