Providence Health Tech Incubator Spinout Praia Health Secures $20M Funding

Providence's health tech incubator has spun out Praia Health as an independent company, securing $20 million in new funding. Praia has developed a platform for patient portals, offering features for appointment tracking, test results, medications, and healthcare provider communications. The system aims to provide a personalized patient experience by tracking and responding to user interactions. Sara Vaezy, Providence's chief strategy and digital officer, emphasized the system's ability to quickly incorporate new targeted features. Praia's CEO, Justin Dearborn, is leading the company with 27 employees, backed by healthcare-focused firms including Frist Cressey Ventures and SignalFire. The technology is already in use by Providence and has attracted Indiana's Community Health Network as its first external customer, serving over 3.5 million users.