Legwork Announces $17 Million Growth Equity Investment by Level Equity
FUNDING WILL FURTHER ENHANCE THE COMPANY'S ALL-IN-ONE PATIENT ENGAGEMENT SOFTWARE TO ACCELERATE INNOVATION IN THE DENTAL INDUSTRY
Legwork, the leader in cloud-based all-in-one patient engagement and marketing automation software for dental practices, has recently secured $17 million in funding from Level Equity, a growth equity firm based in New York and San Francisco. Legwork will use the new capital to improve existing software functionality and bring new and
innovative features to the dental market.
Legwork has experienced tremendous success, having doubled top-line revenue for the last two years, and is on pace to double once again in 2019.
"We realize that if we were to simply rest on our current success and fail to listen to our customers' needs, we would stagnate as a company," said Co-CEO Jeff Weber. "Adding a partner like Level Equity vastly increases our ability to achieve our original mission of providing dental teams with more innovative patient engagement solutions, for a competitive price, without service compromises."
Since its founding in 2007, Legwork has built an all-in-one patient engagement and marketing automation software dedicated to the dental industry. The company's software platform brings marketing tools, data, and patient communications together, enabling dental practices to acquire and nurture more leads, convert leads into appointments, retain patients, encourage reviews/referrals, and reactivate existing patients for follow-on services. The platform seamlessly integrates with all major practice management software vendors and supports the entire patient journey.
"Legwork aims to solve what I call the $300 marketing trap," Co-CEO Korey Korfiatis explains. "This wasteful trap is an inherent flaw in the area of dental marketing and communications. It operates under the premise that while nearly every marketing related software and web platform costs an average of just $300 per month, not one of these systems alone, or combined with other fragmented solutions, completely solves the Dentists' patient engagement needs. Legwork brings all these services into a single, more complete platform at a more competitive rate than any other solution on the market."
First on the schedule of new innovative features is the recent launch of Legwork's new flagship offering PXI, a next generation review and referral management platform. PXI stands for Patient Experience Insights, and leverages a Net Promoter Scoring System to measure and reveal the patient sentiment. Additionally, PXI uses powerful automation to turn promoters of the practice into positive online reviews and new patient referral generation, the lifeblood of any healthy practice. Moreover, PXI reveals those patients who have had neutral or negative experiences, thereby arming practices with the data they need to improve patient experience and grow.
"Given the rise of consumerism in healthcare, particularly within the dental space, it's more critical than ever to deliver a memorable patient experience -- both pre- and post-visit," said Charles Chen, Partner at Level Equity. "Legwork uniquely understands these needs and has built a platform that enables dental practices to engage with their patients in a powerful manner. We've been impressed with the exceptional, capital-efficient growth that Jeff and Korey have achieved, and are thrilled to partner with them going forward."
Charles Chen will join Jeff Weber and Korey Korfiatis on the company's board of directors.
The Legwork patient engagement software and website platform work alongside dental teams and their customer to provide robust automated communications throughout the entire patient journey to grow the practice.
About Level Equity:
Based in New York and San Francisco, Level Equity is a growth equity firm focused on providing capital to rapidly growing software and internet companies. The firm manages over $1.7 billion across a series of long term committed investment partnerships. For more information about Level Equity, visit levelequity.com.