When was ModMed founded?

ModMed was founded in 2010 and raised its 1st funding round within a year of its incorporation.

Where is ModMed located?

ModMed is headquartered in Boca Raton, United States. It is registered at Boca Raton, Florida.

How many employees does ModMed have?

As of Jun 30, 2026, the latest employee count at ModMed is 2337.

Is ModMed a funded company?

ModMed is a funded company, having raised a total of $329M across 10 funding rounds to date. The company's 1st funding round was a $425K Seed round, raised on May 19, 2010.

How much is ModMed worth?

The last known valuation of ModMed was $1B as of Jun 14, 2017.

When was the latest funding round of ModMed?

ModMed's latest funding was a $231M Series F round on May 10, 2017, with participation from 1 investor.

Is ModMed a Healthcare IT company?

The primary sector of ModMed is Healthcare IT.

Where does ModMed rank among its competitors?

ModMed ranks 2nd amongst 2943 active competitors, of which 156 are funded. It stands 1st in terms of total funding among its competitors. The most recent competitor to raise funding was Semble, which secured $40.3M in Jun, 2026.

Who are the top competitors of ModMed?

ModMed's top competitors include athenahealth, Hint Health and Semble. Among them, Semble secured the most recent funding round in June, 2026.

ModMed - 2026 Company Profile, Team, Funding & Competitors

ModMed is an acquired company based in Boca Raton (United States), founded in 2010 by Michael Sherling. It operates as a Cloud-based EMR and practice management software for clinics. ModMed has raised $329M in funding from investors like Summit Partners, Pentland and IBM, with last known valuation of $1B. The company has 2943 active competitors, including 156 funded and 173 that have exited. Its top competitors include companies like athenahealth, Hint Health and Semble.

Sectors and market segments that ModMed operate in

ModMed serves in the HealthTech market segments.The primary business model of ModMed is:

HealthTech > Healthcare IT > ***** **** > ***** ******

Company Details

Cloud-based EMR and practice management software for clinics. The company is focused on specialty-specific EHR, practice management, revenue cycle management, patient engagement, and AI-enabled documentation tools.

Website: modmed.com
Social
Email ID: *****@modmed.com
Phone Number: +1 **********
Registered Address: Boca Raton, Florida

Key Metrics

Founded Year

2010

Location

Boca Raton, United States

Stage

Acquired

Total Funding

$329M in 10 rounds

Latest Funding Round

Series F, May 10, 2017, $231M

Last Known Valuation

$1B as on Jun 14, 2017

Investors

Summit Partners & 9 more

Ranked

2^nd among 2943 active competitors

Employee Count

2,337 as on Jun 30, 2026

Investment & Acquisitions

Bonsai Health & 5 more

Similar Companies

athenahealth & 4016 more

Exit Details

Acquired by Clearlake Capital Group (Mar 03, 2025)

View ModMed's full profile

ModMed is associated with 2 legal entities given below:

Legal Entity Name	Date of Incorporation	Revenue	Latest Employee Count	Documents
MODMED TECHNOLOGIES INDIA PRIVATE LIMITED CIN: U62099TS2023FTC171658 , India, Active	Apr 06, 2023	₹50 - ₹100 Cr (As on Mar 31, 2025)	-
Modernizing Medicine, Inc. CIN: 272070905 , United States, Active	Dec 31, 2009	-	1615 (As on Dec 31, 2024)	-

ModMed got acquired by Clearlake Capital Group on Mar 03, 2025.

Click here to take a look at ModMed's acquisition in detail

ModMed has raised a total funding of $329M over 10 rounds. Its first funding round was on May 19, 2010. Its latest funding round was a Series F round on May 10, 2017 for $231M. 1 investor participated in its latest round. ModMed has 10 institutional investors.

Here is the list of recent funding rounds of ModMed:

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Date of Funding	Funding Amount	Round Name	Post-Money Valuation	Revenue Multiple	Lead Investors	Other Investors
May 10, 2017	$231M	Series F	$1B	-	Warburg Pincus	-
Sep 15, 2015	$38M	Series E	-	-	Pentland, Sands Capital Ventures, Summit Partners	-
Aug 28, 2015	$10M	Venture Debt	-	-	-	SVB

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View details of ModMed's funding rounds and investors

The founders of ModMed is Michael Sherling.

Here are the details of ModMed's key team members:

Michael Sherling: Co-Founder & Chief Strategy officer of ModMed. They serve on the board of 1 company.

ModMed's Board of Directors

ModMed's board has 21 active members. Daniel Cane, James Brooks, Gary Steele, Fred Hassan, Michael Sherling, Andrew Park, Karen O'byrne, Mark Delaar, Rick Von Pusch, Barry Mosheim, Amr Kronfol, Phillip Pead, Joseph Harpaz, Patric Edmondson, Mark Fleisher, Jean Bua, Michael Sherling, M.D., Michelle Scheer, Robert Nagro, Gina Loften and Brad Rennick are independent board members.

Here is the list of ModMed's board of directors:

Name	Type	Representing	Status	Duration
Daniel Cane	Independent board member	-	Current	16y 1m
James Brooks	Independent board member	-	Current	13y 11m
Gary Steele	Independent board member	-	Current	4y 4m
Fred Hassan	Independent board member	-	Current	9y 1m
Michael Sherling	Independent board member	-	Current	16y 1m
Andrew Park	Independent board member	-	Current	4y 4m
Karen O'byrne	Independent board member	-	Current	13y 11m
Mark Delaar	Independent board member	-	Current	12y 10m
Rick Von Pusch	Independent board member	-	Current	9y 1m
Barry Mosheim	Independent board member	-	Current	12y 10m
Amr Kronfol	Independent board member	-	Current	9y 1m
Phillip Pead	Independent board member	-	Current	4y 4m
Joseph Harpaz	Independent board member	-	Current	4y 4m
Patric Edmondson	Independent board member	-	Current	11y 7m
Mark Fleisher	Independent board member	-	Current	13y 11m
Jean Bua	Independent board member	-	Current	4y 4m
Michael Sherling, M.D.	Independent board member	-	Current	15y 4m
Michelle Scheer	Independent board member	-	Current	4y 4m
Robert Nagro	Independent board member	-	Current	15y 4m
Gina Loften	Independent board member	-	Current	4y 4m
Brad Rennick	Independent board member	-	Current	11y 7m

View details of ModMed's Founder profiles and Board Members

ModMed's employee count trend

ModMed has 2,337 employees as of Jun 26. Here is ModMed's employee count trend over the years:

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Top competitors of ModMed include athenahealth, Hint Health and Semble. Here is the list of Top 10 competitors of ModMed, ranked by Tracxn score:

Rank	Company Details	Short Description	Total Funding	Investors	Tracxn Score
1st	athenahealth 1997, Watertown (United States), Acquired	Cloud-based administrative tool for healthcare providers	$49.1M	Venrock, Ares Capital Corporation & 11 others	87/100
2nd	ModMed 2010, Boca Raton (United States), Acquired	Cloud-based EMR and practice management software for clinics	$329M	Summit Partners, Sands Capital & 8 others	81/100
3rd	Hint Health 2013, San Francisco (United States), Series B	Provider of a SaaS-based practice management solution for healthcare professionals	$60.1M	AXA Venture Partners, Webb Investment Network ... & 22 others	67/100
4th	Semble 2016, London (United Kingdom), Series C	Cloud-based practice management tool for providers	$63.6M	Salica Investments, Mercia & 11 others	67/100
5th	Docon 2013, Bengaluru (India), Acquired	Digital healthcare platform to streamline medical practices and enhance patient care	-	-	67/100
6th	Epic Systems 1979, Madison (United States), Funding Raised	Provider of suite software solutions for healthcare organizations	-	Premji Invest, DSA Investments & 3 others	66/100
7th	Medsphere Systems 2002, Carlsbad (United States), Series F	Open-source software provider for healthcare organizations	$151M	Azure Capital Partners, Western Technology Investment ... & 12 others	66/100
8th	HealthPlix 2014, Bengaluru (India), Series C	Provider of EMR and clinic management software for healthcare professionals	$43M	Chiratae Ventures, Lightspeed & 20 others	66/100
9th	Eka Care 2020, Bengaluru (India), Series A	Developer of health management software and clinical documentation support tools	$19.5M	Hummingbird Ventures, PeerCapital & 32 others	65/100
10th	Somnoware 2013, Sunnyvale (United States), Acquired	Cloud platform streamlining sleep and respiratory care management workflows	$13.1M	CerraCap Ventures, Global Health Impact Fund ... & 3 others	64/100

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ModMed has not made any investments yet. ModMed has made 6 acquisitions.

Here is the list of latest three $acquisitions:

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Date of Investment/Acquisition	Type	Company Name	Founded Year	Location
Apr 20, 2026	Acquisition	Bonsai Health		Los Angeles (United States)
Feb 08, 2022	Acquisition	Klara	2013	Berlin (Germany)
Apr 16, 2021	Acquisition	TRAKnet	2013	Southfield (United States)