Milwaukee-based Penrodhas secured an $8 million investment from San Francisco-based Salesforce Ventures and an undisclosed Milwaukee family office, according to a press release which did not break down the investment amount between the two sources.
A spokesperson for Penrod could not immediately be reached for comment.
Penrod is a provider of custom-built salesforce solutions and has offices in Milwaukee, Minneapolis, Portland and Dallas. According to a press release from the company, the investment will allow Penrod to accelerate their efforts in enabling health care and life sciences companies to address a shift towards consumerism. A research report from the company shows that 64% of U.S. consumers would consider switching primary care providers for a better digital experience.
“It’s clear the health care ecosystem needs innovative, patient-centric platforms to remain competitive and proactively address rapidly changing patient care models and engagement needs,” said Chris Widmayer, chief executive officer at Penrod. “The recent investments will allow Penrod to amplify our message and extend our reach to more organizations who need a partner in their corner, helping them navigate the challenges associated with digital transformation in a time where the only certainty is uncertainty.”
[caption id="attachment_542214" align="alignright" width="300"] Chris Widmayer[/caption]
Salesforce Ventures is the global investment arm of Salesforce, focused on partnering with tech companies to create the world’s largest ecosystem of enterprise cloud companies. According to the release, their decision to invest in Penrod was due to the company’s consistently growing portfolio of health care, pharmaceutical, medical, and insurance clients.
“We’re focused on helping our customers meet their customers where they want to be met – empowering the consumption of care where and how the patient wants it,” said Saul Fofana, chief customer officer at Penrod. “Expect to see innovative marketing tools that engage patients on their preferred channels, data platforms that help personalize treatment and care plans, extended integrations that unify data, and tools that automate manual workflows across the value chain for our customers and patients.”
Penrod officially expanded their operations to the West Coast with an announcement in October of 2019 that they were opening their fourth office location in Portland. This new location addressed the 50% increase in growth the company specifically saw out West.