CHARLOTTE – Charlotte-based equity firm Frontier Capital has made a “significant growth equity investment” in the healthcare payments firm Clearwave Corporation based out of Atlanta.

The investment comes from the firm’s $700 million Frontier Fund V, which closed in 2017. However, the exact sum invested wasn’t disclosed.

Clearwave specializes in digital check-in, insurance verification and payments collection for hospitals, private physicians, urgent care centers and other medical facilities.

Frontier said the investment is intended to support Clearwave’s “next phase of innovation” with customer experience, technology, sales and marketing operations and its talent base.

“As an early innovator in digital patient intake solutions, we believe our success is a direct outcome of our focus being in alignment with our healthcare providers – providing the best possible patient experience,” said Gerard White, Clearwave’s CEO, in a statement.

“We are at an exciting inflection point, and are thrilled to work with the well-respected team at Frontier, who deeply understand our sector and the opportunities in front of us to expand our offering, evolve the patient experience, and strengthen our foothold as a leader in the space.”

Lindner and Frontier Vice President Tim Bechtold will join the Clearwave board of directors as part of the deal.

Healthcare Growth Partners served as exclusive financial advisor to Clearwave in connection with the investment.

Charlotte’s Frontier Capital steps up SaaS investing with 5th deal in 10 months