Ascension Ventures, an investment firm, is investing money into online reputation management.
Reputation.com is one of the most well-known companies that provide online reputation management and Ascension Ventures was part of a group that invested millions into the site. The amount invested in total was $20 million.
OnlineReputationReviews.com has a range of products that helps companies find out what’s being said about them on social media sites and review sites. The company also offers a way for them to engage consumers to try to solve any problems and turn negative feedback into positive or neutral reviews.
Ascension Ventures raises money that is invested in emerging technology. Other non-profit hospital systems are big investors of Ascension Ventures.
Matt Hermann, a managing director at Ascension Ventures, said Ascension’s health system partners are seeing how there is a change in how patients decide where they want to receive care from. They notice that consumers are turning to online reviews and social media to help them with their decisions.
Hermann said Reputation.com has tools to help healthcare companies engage with their patients online and to help understand how they are doing in regards to consumer experiences.
Asides from Ascension Ventures, other companies that invested in Reputation.com include August Capital, Icon Ventures, Bessemer Venture and Focus Ventures.
Ascension was the first large hospital system to partner with Lyft to help patients get to and from their appointments. The partnership shows that Ascension is embracing the online economy and services offered online, including online reputation management.