MedTrainer Fuels Expansion with Growth Funding from Telescope Partners
Investment for emerging healthcare compliance technology leader will enhance hiring, product development and market expansion
REDLANDS, Calif. – Nov. 12, 2019 – MedTrainer, the creator of the only all-in-one compliance management suite, announces it has closed a growth financing from Telescope Partners (Telescope). This funding will enable MedTrainer to penetrate new markets and support its rapid growth trajectory.
The financing builds on another exceptional year for MedTrainer, which saw significant growth in its roster of clients in primary care, urgent care, ambulatory surgery centers, hospitals, community health centers and long-term care facilities. MedTrainer will use the capital to drive aggressive expansion and continued innovation of new solutions that help organizations with training, compliance, credentialing and accreditation.
“We built MedTrainer from the ground up and are very proud of the level it has grown to organically. With Telescope, we’ve gained a tremendous resource—in terms of funding and in growth strategy expertise,” said Steve Gallion, CEO, MedTrainer. “This partnership will help us better serve the needs of our growing client base and will further solidify MedTrainer’s position as a leading provider of learning, compliance, and credentialing solutions.”
Since closing the financing in August, MedTrainer has accelerated the hiring of team members, including the recent addition of Chief Technology Officer, Jonathan Wage, former CTO at OpenSky. MedTrainer will also expand its sales, marketing, product design and development teams to further address the learning, compliance and credentialing needs of healthcare organizations today.
Notably, Telescope Partners works with companies across the software and technology landscape to support long-term, sustainable business growth. Mickey Arabelovic, founder of Telescope Partners, said, “MedTrainer is uniquely positioned to tackle the ever-increasing compliance challenges in healthcare today. Steve and Jorge have done a phenomenal job building a scalable business to serve healthcare providers of all size and type. MedTrainer embodies the best aspects of being bootstrapped, lean and driven. We are excited for what they can accomplish with a true partner at their side.”
About Telescope Partners
Founded in 2016, Telescope Partners is a thesis-driven, early growth investor for entrepreneurs building exceptional enterprise software companies. Mickey has been investing since 2005 and has worked with software companies, including Brandfolder, Hotel Engine, Carbon Black, Hirevue, and Waystar. Telescope is a small team with a small portfolio by design, allowing for the creation of a bespoke, high-touch investment relationship with each company.