Capital raise comes amid rapidly growing demand for the company’s HIPAA compliant email and marketing solutions
Paubox, a leading provider of HIPAA compliant email and marketing solutions for healthcare organizations, today announced it has raised $10 million in funding from Arthur Ventures. Paubox is the industry’s top-rated provider of secure, encrypted email for hospitals, medical practices, mental health facilities and other covered entities.
Paubox intends to use the funds to further its mission to become the market leader for HIPAA compliant email.
“At a time when the venture capital market is more restrictive than it’s been in recent years, we’re grateful and proud of the confidence Arthur Ventures has shown in Paubox and our team,” said Hoala Greevy, CEO and Founder of Paubox. “This additional funding is not only a significant moment in our company’s history, but it also validates our vision for improving secure communications among healthcare providers, patients and other stakeholders.”
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Despite a slower-than-expected global economy, 2022 continues to be a year of important milestones for Paubox. In recent months, the company surpassed 4,000 customers worldwide, and it now secures more than 70 million emails every month.
Unlike other email solutions, Paubox enables HIPAA compliant emails to arrive in patients’ inboxes without requiring them to log into a portal or enter a passcode to view the messages. Its email solution is HITRUST CSF certified for the highest standard of security. According to G2 rankings, Paubox leads the HIPAA compliant email industry for Best Email Encryption Software and Best HIPAA Compliant Messaging Software.
“We’re excited to expand our partnership with the Paubox team to support the company’s efforts to simplify and secure communications between healthcare providers and patients,” said Patrick Meenan, General Partner at Arthur Ventures. “Safeguarding patients’ protected health information shouldn’t be a complicated process full of risk and doubt. With Paubox, every email a provider sends is 100% HIPAA compliant, without any cumbersome portals or duplicate logins. That’s the type of product experience Arthur Ventures is proud to support.”
Prior to this most recent investment, Paubox had raised $4 million in a Series A financing, which was also led by Arthur Ventures. Patrick Meenan of Arthur Ventures holds a seat on the Paubox board of directors.
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