| Founded | 2005 |
|---|---|
| Closed | 2023 |
| Country | USA |
| Sector | Healthtech |
| Collapse type | Mass Layoff Spiral |
| Founder | Chaim Indig |
Phreesia
"Patient check-in tech that couldn't check its own burn rate."
Cascading layoffs that accelerated the decline
Key Events Timeline
Phreesia went public in 2019 and its patient intake platform gained significant hospital adoption, but by 2023 persistent net losses exceeding $150M annually, slowing revenue growth from 30%+ to under 15%, and rising interest rates crushed its stock by over 70% from its 2021 peak.
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