Legwork Announces $17 Million Growth Equity Investment by Level Equity
Funding Will Further Enhance the Company's All-In-One Patient Engagement Software to Accelerate Innovation in the Dental Industry
WENATCHEE, Wash., May 30, 2019 (Newswire.com) - Legwork, the leading cloud-based, all-in-one patient engagement and marketing automation software for dental practices, today announced they have secured $17 million in funding from Level Equity, a growth equity firm based in New York and San Francisco. Legwork will use the new capital to improve existing software functionality and bring new and innovative features to the dental market.
Since its founding in 2007, Legwork has experienced tremendous success, having doubled top-line revenue for the last two years and is on pace to double once again in 2019. The company's software platform brings marketing tools, data and patient communications together, enabling dental practices to acquire and nurture more leads, convert leads into appointments, retain patients, encourage reviews/referrals, and reactivate existing patients for follow-on services.
"Legwork aims to solve what we call the $300 marketing trap," said Co-CEO Korey Korfiatis. "While nearly every marketing-related software and web platform costs an average of just $300 per month, not one of these systems alone -- or even combined with other fragmented solutions -- completely solves a dentist’s patient engagement needs. Legwork combines all of these services into a single, comprehensive platform, and we are excited about the opportunity to further build out this industry-leading platform to meet our clients’ needs."
Most recently, Legwork launched The Patient Experience Insights (PXI), a next-generation review and referral management platform. The PXI leverages a Net Promoter Scoring System to measure and reveal the patient sentiment. Additionally, PXI uses powerful automation to turn promoters of the practice into positive online reviews and new patient referral generation, the lifeblood of any healthy practice. Moreover, the PXI reveals those patients who have had neutral or negative experiences, thereby arming practices with the data they need to improve patient experience and grow.
"Adding a partner like Level Equity vastly enhances our ability to achieve our original mission of providing dental teams with more innovative patient engagement solutions, such as the PXI, at a competitive price without compromising our high level of service,” said Jeff Weber, Co-CEO. “We look forward to continuing to build out a strong product road map, with additional features and platforms that will enable dental practices to take their marketing efforts to the next level.”
"Given the rise of consumerism in health care, particularly within the dental space, it's more critical than ever to deliver a memorable patient experience -- both pre- and post-visit," said Charles Chen, Partner at Level Equity. "Legwork uniquely understands these needs and has built a platform that enables dental practices to engage with their patients in a powerful manner. We've been impressed with the exceptional, capital-efficient growth that Jeff and Korey have achieved, and are thrilled to partner with them going forward."
Charles Chen will join Jeff Weber and Korey Korfiatis on the company's board of directors.
The Legwork patient engagement software and website platform work alongside dental teams and their customer to provide robust automated communications throughout the entire patient journey to grow the practice. For more information about Legwork, visit legworkprm.com
About Level Equity:
Based in New York and San Francisco, Level Equity is a growth equity firm focused on providing capital to rapidly growing software and internet companies. The firm manages over $1.7 billion across a series of long term committed investment partnerships. For more information about Level Equity, visit levelequity.com.
Korey R. Korfiatis
Source: Legwork Software