Phreesia secures $10.25MM Series B Funding

Investment from Polaris Venture Partners Underscores Success of Phreesia
in the Physician's Waiting Room

September 17, 2007 - Phreesia Inc™, the first company to provide a free patient-intake solution in the physician's waiting room delivering relevant interactive healthcare content direct-to-patients, announced today the close of a $10.25 million second-round of private financing. Founded in February 2005, Phreesia has received $13.25 million in financing to date. Polaris Venture Partners, a national venture capital firm, led the financing round and was joined by first round investors Long River Ventures, HLM Venture Partners, and Village Ventures.

"This caliber of backing highlights Phreesia's success as the first company to provide a free and substantially more useful patient check-in solution. The completion of this oversubscribed round of funding has provided us with the ability to continue to execute on our vision," said Chaim Indig, Phreesia's President and Chief Executive Officer. "We are proud to have raised capital that comes with proven strategic and operational guidance from new partners like Polaris and existing partners HLM, Long River and Village Ventures. We will only continue to grow our business and exceed targets."

"Phreesia fills a void for patients and their physicians," said Alan Spoon, managing general partner at Polaris Venture Partners. "The company's solution enables superior patient-doctor communication and education. This is a savvy team with the expertise and energy to fill a large and growing need."

Spoon, the former president of The Washington Post Company and current board member of several leading media companies including TechTarget, Art.com, IAC/InterActiveCorp, LegalZoom and Health Central Network, will join Phreesia's board of directors. Polaris' Bob Geiman will also join Phreesia's board. Bob currently sits on the boards of AePona, Bridgeport Networks, Paratek, and Roundbox.

"This over subscribed Series B financing is a testament to the progress Phreesia has made since our initial investment and to the tremendous potential of this company." said Will Cowen, a Long River Ventures Managing Partner and member of Phreesia's board of directors. "We are thrilled to continue our financial and strategic partnership with Phreesia, and happy to welcome Polaris as a co-investor."

Phreesia will use the funds to continue to deploy Phreesia to more physicians' practices, expand sales and marketing programs, increase its workforce and invest in ongoing research and development.

www.phreesia.com