SimplePractice
“Can a therapist-focused EHR own the entire economic surface of an independent behavioral-health practice — billing, insurance, payments, and AI documentation — without becoming a bank itself?”
Founded2012
HQSanta Monica, California, USA
Latest roundBuyout/LBO
IndustryVertical SaaS / Healthcare
The story
Founded 2012 as an EHR + practice-management SaaS for solo and small-group therapists, SLPs, OTs, and psychiatrists. Embedded finance is deliberately narrow: online payments (Stripe) and Stripe Capital merchant financing sit inside the billing workflow rather than the company building its own money-movement stack. Recent product energy is on AI (Care Aide, Note Taker) and insurance-side workflows (credentialing, claims), not on banking or card issuance.
Last 12 months
Product timeline
2012
SimplePractice founded in Santa Monica as a practice management platform for health & wellness professionals.· launch
2019
Jonathan Seltzer joins; company scales to serve solo and group practitioners.· leadership
2024
Jonathan Seltzer named CEO; platform reaches 250,000+ practitioners.· leadership
2026
Launches AI features including Care Aide, Note Taker, Session Sidekick, Treatment Planner, Client Summaries.· pivot
The stack
2 layers disclosed in SimplePractice’s embedded-finance stack
Payments / PSP
Lending
in the full report
Accounting gap: significant
2 more providers across 1 layer, with confidence-scored evidence and source URLs, are in the Embedded Finance Index report.