Flychain newsletter for June and July 2024
New customers, new partners, and a new team member!
Highlights
Platform Adoption
Since launching in mid-March, we’ve signed a total of 14 providers to our Financial OS. As we’ve onboarded these customers, it’s been encouraging to see them use multiple products within our OS such as Capital, Accounting, Treasury, and Valuations.
Partnerships
We’ve struck partnerships with Doc2Doc and HPA, which have started sending us referrals outside our core verticals of Home Health + Behavioral Health.
We’re excited to see that our specialty-agnostic approach has enabled us to seamlessly move to other healthcare verticals e.g. Skilled Nursing and Anesthesiology.
Moving Up Market (Continued)
In our last newsletter, we articulated the up-market pull we’ve experienced since launching the Financial OS. We’ve now signed and onboarded our first multi-location entity with an ACV that is 3x higher than a one-location provider. We expect to onboard 2-3 more multi-location entities in the next two months.
Welcoming Simone Deverall
We are thrilled to share that Simone Deverall has joined the Flychain team as Head of Growth. Simone has spent her career in the healthcare industry working as a consultant with a focus on digital health and pharmaceuticals. At Flychain, she will be spearheading new GTM motions while doubling down on strategies that have been working thus far.
NICA Infusion Therapy Conference
In June, the Flychain team headed to Las Vegas and exhibited at the annual NICA Conference. It was the first conference where Flychain invested in a booth and it was an encouraging signal for future conferences. We’ve already signed a partnership and provider immediately following the conference with a nice pipeline to follow.
Key metrics
Graphs
Note: the graphs below don’t reflect the four new providers that we have signed since the beginning of August. This will be reflected in next month’s newsletter.
Financials
Burn
$55,000
Bank balance
$2,071,431.12
Runway
3.3 years