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Brightree, software and services for post-acute care

Brightree’s cloud-based software helps customers improve clinical and business performance in the post-acute care industries of home/durable medical equipment (HME/DME), home health and hospice.


Founded in 2002, Brightree initially had modest success. The founder transitioned business operations to a new management team in 2005 and in 2008 wanted to sell his portion of the business.

Battery recognized the strong growth dynamics of the $30 billion HME market and believed a focused business-management software solution, designed to address complex, industry-specific issues, would both make the industry more efficient and win out over a horizontal business-management offering that could not address the specific needs of the market. Battery partnered with the management team and acquired the founder’s shares for a majority stake in the company.

Battery’s Impact:

  • Battery’s investment in Brightree supported organic growth in both new product development as well as increased sales resources.
  • Acting as an in-house corporate-development arm, Battery helped to define the company’s acquisition strategy, research potential targets and execute six transactions.
  • Battery also recruited additional executives to drive the company’s growth.


Within the first six months of Battery’s investment, Brightree closed its first acquisition–a complementary billing-services business that cost $300,000 to acquire. But it grew to drive $10 million in annual revenue for the company. In total, Battery helped Brightree complete six tuck-in acquisitions. Annual revenues grew from $8 million in 2008 to $113 million in 2016, when Brightree was acquired by publicly traded, medical-device company ResMed (NYSE: RMD) for $800 million.

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Brightree Related ARTICLES

The presented case study investment was made in particular economic and market conditions. There can be no assurance that Battery Venture would elect, or be able, to exploit similar opportunities in a similar manner under similar or different economic and market conditions. More generally, there can be no assurances that the Battery vehicles will have comparable investment opportunities in the future. No assumptions should be made that any investments identified above were profitable. It should not be assumed that recommendations made in the future will be profitable or comparable to the portfolio company described in this case study. For a full list of all Battery Ventures investments, please click here.

Focus area
Application Software
Aquired by ResMed; NYSE: RMD
Atlanta, Georgia

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