Radformation Partners with BVP Forge to Accelerate AI-Driven Solutions for Cancer Care

12 July 2023 - New York, USA

Radformation a leader in cancer care clinical and operational software solutions, announced today that BVP Forge has made a strategic investment in the company to accelerate its global growth.

Since its founding in 2016, Radformation has grown to serve over 1,400 radiation oncology clinics worldwide with a portfolio of products streamlining all stages of the cancer care treatment process. Radformation’s solutions allow radiation oncology providers to leverage artificial intelligence and highly specialized workflows to plan treatments, ensure patient safety, and optimize revenue cycle processes. To date, Radformation has helped with the radiation therapy care planning for patients worldwide with 30,000 software runs per day, across 20 countries, achieving 100% annual revenue growth since founding.

"This investment represents a significant milestone in Radformation's journey, and it was apparent from our initial meeting that BVP Forge was the right partner for our next growth stage," said Kurt Sysock, co-founder and CEO of Radformation. "The BVP Forge team shares our company values and culture and supports our customer-first mission of creating innovative solutions to improve the patient experience.”

BVP Forge will bring the resources and capabilities of ForgeEdge™, BVP Forge’s business-building program, to help Radformation scale its customer growth engine, expand its product portfolio to address broader workflows within cancer care, expand its geographic reach internationally, and enter new market segments. BVP Forge will also provide Radformation access to the growth IP, talent network, and resources of Bessemer Venture Partners, which has decades of experience scaling healthcare and technology companies into market leaders.

“As evidenced by the company’s best-in-class customer retention and exceptional growth, Radformation’s products solve critical pain-points in the daily workflow of providers, allowing for safer and faster delivery of cancer care,” said Navid Oreizy, BVP Forge Partner. “We are thrilled to partner with the Radformation team and help accelerate their journey.”

“Radformation has demonstrated a track record of rapid new product development to address a growing scope of needs for the radiation oncology community,” said Brian Cramer, BVP Forge Operating Partner. “We see a significant opportunity to build on that foundation as the company expands its offerings, serves more providers around the globe, and increases its impact on the delivery of cancer care.”

About BVP Forge

BVP Forge is the unique combination of a private equity firm for growth-oriented, self-sustaining software-enabled businesses paired with access to the Bessemer Venture Partners’ global venture capital platform. BVP Forge combines Bessemer’s front-line industry insights, proven growth IP, and robust executive network with tailored resources for self-sustaining companies and the ForgeEdge™ operational program. Mission-driven teams gain an ally who values their expertise, respects their legacy, and supports them to build a winning culture and business that withstands the test of time. BVP Forge invests from a $780M fund in partnership with the $20B Bessemer platform that has backed industry-defining businesses such as LinkedIn, MindBody, PagerDuty, Procore, ServiceTitan, Shopify, Toast, and Twilio. For more information about BVP Forge, please visit https://www.bvp.com/forge.

About Radformation

Radformation is committed to improving the lives of clinicians by delivering user-friendly products developed to increase the safety and quality of cancer treatment. Radformation envisions a radiation oncology clinic where staff are armed with solutions that supplement their expertise and automate tedious tasks, leading to better patient care everywhere. Since its founding in 2016, Radformation has grown to serve over 1,400 clinics around the world with a portfolio of products streamlining all stages of the treatment planning workflow. For more information, visit radformation.com and follow on Twitter @Radformation.

Melanie Benton
Director of Marketing, Radformation