UrgentIQ, a New York-based software company building electronic medical records for urgent care centers, has raised a $15 million Series A from Five Elms Capital. The growth investment will fund an expansion of the company's AI-native platform into billing, coding and insurance workflows.

The deal gives UrgentIQ fresh capital to go after a segment of healthcare that has long been served by general-purpose EMRs designed for hospitals and primary care practices rather than walk-in clinics.

Built for Speed

Urgent care runs on volume. Clinics see patients without appointments, move them through quickly and bill a mix of insurers, all with lean staff. UrgentIQ was designed around that reality, combining scheduling, patient intake, clinical documentation, AI-powered coding, revenue cycle management and payment processing in one system.

"Urgent care deserves its own operating system, one designed around speed, intelligence, and automation from the ground up," said Nat Gibbs, UrgentIQ's founder and CEO.

The company serves both independent operators and multi-site urgent care groups nationwide, and says customers report meaningful gains in patient throughput after moving to the platform. Users give the product an average satisfaction rating of 9.7 out of 10.

What the Money Builds

UrgentIQ laid out a specific product roadmap for the new capital:

A native billing module that brings more of the revenue cycle in-house rather than relying on outside tools.

Advanced AI diagnosis and coding to speed up documentation and reduce claim errors.

Live insurance verification so front-desk staff can confirm coverage in real time.

An AI checkout agent designed to close out patient visits with less manual work.

Together, those features aim to cut the administrative drag that slows clinics down between the moment a patient walks in and the moment a claim is paid.

Why Five Elms Is In

Five Elms Capital, a Kansas City-based growth equity firm focused on B2B software, pointed to the company's traction with operators. "UrgentIQ has built a platform with exceptional operator adoption and product satisfaction," said Joe Onofrio, a partner at the firm.

Vertical software for specialized care settings has become a steady target for investors, especially as AI makes it possible to automate coding and billing tasks that once required dedicated staff. Urgent care, with its high visit counts and thin margins, is a natural fit for that kind of automation.

The urgent care market has expanded as patients look for faster and cheaper alternatives to emergency rooms, and as health systems and private equity-backed groups open new locations. That growth has created more demand for software that can standardize operations across many sites without slowing providers down.

Five Elms focuses on growth-stage B2B software companies, and its investment signals confidence that UrgentIQ can scale from a focused EMR into a full operating platform for the category.

For UrgentIQ, the Series A is a bet that clinics will pay for a system tailored to their workflow rather than adapting one built for someone else.

Source

PR Newswire — "UrgentIQ Announces Strategic Growth Investment From Five Elms Capital"