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Health care management software firm MedVentive Inc. has boosted a venture round from $4.9 million to $10 million, according to regulatory filings. The round, filed initially last July, was at that time planned to top out at $7.3 million.
The document filed with the U.S. Securities and Exchange Commission shows that there were nine investors in the round. The listing notes as board members Enrico Petrillo of CB Health Ventures LLC in Boston and Mark Levine of Core Capital Partners in Washington, D.C.
MedVentive was founded in 1997 by the CareGroup Healthcare Systems, a network of 3,000 physicians, six hospitals and more than 1 million patients. CareGroup is the parent of Beth Israel Deaconess Medical Center.
The company makes health care management software for doctors, insurance companies and employers. It began in 1997 as Care Group Medical Services Organization LLC, a health IT unit of CareGroup Healthcare Systems, and became an independent entity in 2005.
MedVentive, which provides software products intended to improve care for patients, has seen its business expand in recent years from one customer in Boston to more than a dozen medical centers across the nation, company officials said last June. The company raised $3.6 million in a Series B round of venture capital financing in May of 2009, intended to expand its sales and marketing staff and new product development.
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