Independent doctors have been losing ground to hospital systems for years. They lack the marketing muscle, the billing infrastructure, the tech stack. Klinic, a Texas-based startup, thinks it has a fix: bundle all of it into one platform, charge a subscription, and let solo practitioners compete again.
The company closed a $24.2 million Series A earlier this year, according to Securities and Exchange Commission filings submitted in June. Thirty-four investors participated in the round, which began with its first close on January 23. The financing — structured as a Rule 506(b) offering — positions Klinic to scale what CEO Avish Bhama has pitched as infrastructure for the fragmented world of independent healthcare.
It's a crowded space. Provider-enablement startups have multiplied in recent years, many promising to help small practices survive in an era of consolidation. What distinguishes Klinic, at least in theory, is its dual model: software for practitioners on one side, a direct-to-patient telehealth operation on the other.
The Filing, the Investors, and the Address Ambiguity
The Form D, signed by Bhama, shows a total offering of $24.2 million with $23.9 million sold as of the filing date. The company's operational address is listed as 12 Cowboys Way in Frisco, Texas — notably, the same complex that houses the Dallas Cowboys' headquarters — though the company also operates in Seattle. Perhaps the Cowboys' proximity is aspirational.
Directors named in the filing include Ilya Golubovich, typically associated with I2BF Global Ventures, and Daniel Goldsmith, an operator-turned-investor. Industry outlets including Behavioral Health Business and HLTH covered the raise in June, but Klinic hasn't issued a formal announcement. The company also didn't respond to press inquiries at the time, a detail that suggests either strategic silence or growing pains.
Aggregator sites have circulated a broader investor list — Proofpoint Capital, Tau Ventures, Upstream Ventures, Draper Associates, Wicklow Capital — though these names have not been officially confirmed by Klinic and none appear in the SEC filing.
What Klinic Actually Does
Founded in 2021, Klinic built what it calls a "practice-in-a-box" platform. The software bundles patient acquisition, intake, electronic health records, CRM, care coordination, and revenue cycle management into a single HIPAA-compliant stack. It's aimed squarely at independent practitioners in behavioral health, addiction medicine, psychiatry, and weight management — specialties where administrative burden can be suffocating.
Co-founder Dan Cheung, who previously held product roles at IPSY and other consumer startups, helped shape the user experience. According to a case study, the company used Healthie's scheduling and EHR API to accelerate development, going live in roughly 60 days. That's fast, even by startup standards.
But Klinic isn't just selling software. The company operates its own telehealth practice, Klinic Medical, which offers medication-assisted treatment, psychiatry, weight loss counseling, and talk therapy. Marketing materials reference a 50-state network, more than 136,000 mapped providers, 9.8 million e-prescribing records analyzed, and 9,000 catalogued drugs. Those numbers, pulled from promotional pages, haven't been independently verified — and they carry the slightly inflated sheen of metrics chosen for maximum impact.
There's also a pharma division. "Klinic for Pharma" targets specialty and launch-stage drug companies, handling prescriber education, patient navigation, benefits verification, prior authorization, and pharmacy routing. It's infrastructure for patient access programs, effectively turning Klinic into a middleman for specialty medications.
Scaling, Hiring, or Both?
Specific use of proceeds remains undisclosed. Employee count is a moving target: LinkedIn lists 11 to 50; Dealroom estimates 51 to 200. The gap suggests either aggressive hiring or inconsistent data — or both.
Klinic's capital formation history includes a Regulation Crowdfunding round via Wefunder in 2022, when the company targeted between $1 million and $5 million on a SAFE instrument. At that time, it employed 10 people, according to Form C filings. The Series A represents a significant step up for a company entering its sixth year, particularly in a market where many provider-enablement ventures have struggled to balance software margins with the capital demands of care delivery.
The tension is real. Software scales nicely; running a telehealth practice does not. Whether Klinic can thread that needle — or whether the pharma division eventually becomes the real business — remains an open question.
For now, the company has $24 million to figure it out.
