Patient Pattern has closed on $2 million in seed funding and plans to double its workforce this year to 40 employees – with as many hires in Buffalo as possible.
The company secured $1 million from StartFast Ventures, a venture capital firm led by managing partners Nasir Ali, Chuck Stormon and Mike Quigley, who are based across New York state. Other investors included ACV Auctions co-founder Jack Greco and Launch NY.
Patient Pattern also raised $1.35 million last year and has now officially closed its seed round as it prepares for a Series A. That round included contributions from Launch NY and the Buffalo Angels.
The Buffalo-based startup was founded in 2013 by Dr. Steven Buslovich, a local geriatrician who believes that software can help improve medical care in nursing homes. Patient Pattern was a small team for years, but it now has 20 employees and plans to double that number this year.
“We’re in an excellent place and things are moving very quickly,” said Buslovich, who is still a practicing physician but now spends much of his time on Patient Pattern. “Our problem right now is that the demand is there; we just need to deliver fast enough.”
The company’s Care Coach platform helps align a patients’ situation and medical needs, turning a chaotic process into a humane and manageable one, Buslovich said.
Patient Pattern pivoted its sales strategy after the pandemic hit, selling into the insurance marketplace instead of directly to nursing homes. It was the key that Buslovich had been seeking. Patient Pattern scored its first major Medicare Advantage customer in fall 2020 – it now has seven and another 11 in the pipeline.
Patient Pattern has also been chosen by CenterLight, the largest PACE (Program of All Inclusive Care for the Elderly) in the U.S.
Patient Pattern is headquartered in the University at Buffalo’s [email protected] facility on the Buffalo Niagara Medical Campus. Buslovich said he’d like to hire locally – much of the company’s headcount growth will come in engineering and customer success – but will ultimately prioritize talent no matter where it’s based in a tight labor market.
Patient Pattern’s senior vice president of product, vice president of product and vice president of engineering all joined from a Buffalo-based physician’s group.
“It took years to pivot and finally find the best product-market fit for what we’ve always tried to do from the beginning,” Buslovich said. “Patience is a virtue.”
Patient Pattern is the third local startup to confirm a private, growth-oriented round of funding this year. The others include BetterMynd ($2 million) and AireXpert ($125,000).
Want to stay ahead of who & what is next? Sent weekly, the Beat is your definitive look at Buffalo’s innovation economy, offering news, analysis & more on the people, companies & ideas driving your city forward. Follow The Beat