Who Owns Phreesia Company?

Phreesia Bundle

Get Full Bundle:

	BCG	$15	$10
	5 FORCES	$15	$10
	CANVAS	$15	$10
	4P's MIX	$15	$10
	PESTLE	$15	$10
	SWOT	$15	$10

TOTAL:

ADD TO CART

Who Owns Phreesia?

Understanding Phreesia's ownership is key to grasping its strategic path and market impact. The company's IPO on July 18, 2019, transitioned ownership from private to public shareholders.

Phreesia, founded in 2005, offers a platform that streamlines patient intake and engagement for healthcare providers. Its Phreesia BCG Matrix analysis highlights its position in the market.

As of July 22, 2025, Phreesia's market capitalization reached $1.54 billion. The company reported a strong fiscal year 2025 with revenue of $419.8 million, marking an 18% year-over-year increase.

The ownership landscape evolved significantly after its public offering. Early investors and founders played a crucial role in its initial development.

Following the IPO, institutional investors and a broader public shareholder base became major stakeholders. The distribution of voting power and the composition of the Board of Directors are critical elements in understanding the company's governance.

Key institutional holders, as of recent filings, include firms that invest heavily in healthcare technology. These entities often hold substantial blocks of shares, influencing strategic decisions.

The management team also holds significant ownership stakes, aligning their interests with those of the shareholders. This includes the CEO and other executive officers.

Retail investors also contribute to the ownership base, though typically with smaller individual holdings. Their collective impact can influence market sentiment and stock performance.

Understanding the concentration of ownership among institutional investors versus the broader public is vital for assessing potential shifts in corporate strategy or control.

The company's financial performance, including its 2025 revenue growth, directly impacts investor confidence and, consequently, ownership dynamics.

Future ownership trends will likely be shaped by the company's continued innovation in patient engagement solutions and its ability to maintain its growth trajectory.

Phreesia, Inc. was established in January 2005 by its current CEO and Board Member, Chaim Indig, alongside President of Provider Solutions, Evan Roberts. Michael Weintraub has held the position of chairman of the company's board since its inception. The founders' continued leadership roles highlight their significant initial stakes and ongoing influence within the company.

Founding Leadership

Phreesia was founded in January 2005 by Chaim Indig and Evan Roberts. Michael Weintraub has served as the chairman of the board since the company's founding.

Early Funding Rounds

Before its Initial Public Offering (IPO), Phreesia secured $109 million in funding across nine rounds. This early backing came from a variety of angel investors and notable institutional firms.

Key Early Investors

Prominent institutional investors participating in Phreesia's funding rounds included Polaris Partners, Sandbox Industries, and LLR Partners. These firms played a crucial role in the company's early growth.

Pre-IPO Funding

The company's final funding round before its IPO occurred on November 13, 2019, raising $29.4 million. Polaris Partners and 18 other investors participated in this round.

Transition to Public Ownership

Phreesia's IPO in July 2019 marked a significant shift from private to public ownership. The company raised $167 million by offering 9.3 million shares at $18 per share.

Founder Equity Management

Standard agreements for a growing private company, such as vesting schedules and buy-sell clauses, were likely in place. These arrangements would have ensured founder commitment and managed equity distribution.

The transition to a publicly traded entity through its 2019 IPO, which generated $167 million, signifies a strategic move by the founders to broaden market access and accelerate growth. This event fundamentally altered the ownership structure, moving from early private stakeholders to a wider base of public shareholders. Understanding the Competitors Landscape of Phreesia can provide further context on the market forces influencing its ownership evolution.

Phreesia SWOT Analysis

• Complete SWOT Breakdown
• Fully Customizable
• Editable in Excel & Word
• Professional Formatting
• Investor-Ready Format

GET TEMPLATE ➔

Phreesia's journey to its current ownership structure was significantly shaped by its Initial Public Offering (IPO) on July 18, 2019. This event transitioned the company from private to public ownership, listing on the New York Stock Exchange under the ticker symbol 'PHR'. The IPO involved the sale of 9,288,194 shares, raising substantial capital and broadening the base of Phreesia's investors.

As of July 22, 2025, Phreesia's market capitalization stands at approximately $1.54 billion, reflecting its growth and market position. The ownership landscape is heavily dominated by institutional investors, who collectively held 94.64% of the company's shares as of 2025, totaling 71,018,233 shares. Key institutional shareholders include Fmr LLC with 9.55% ownership (5,680,720 shares), BlackRock, Inc. holding 9.09% (5,406,013 shares), and The Vanguard Group, Inc. with 8.30% (4,936,515 shares) as of March 30, 2025. Other significant institutional stakeholders comprise Greenhouse Funds LLLP (4.97%), Champlain Investment Partners, LLC (4.95%), Capital Research and Management Company (4.61%), and UBS Asset Management AG (4.58%). Insiders, such as founders and executives, maintained an 8.53% stake as of June 2025. This substantial institutional backing underscores a strong vote of confidence in Phreesia's strategic direction and future prospects, supporting its expansion and strategic acquisitions, such as QueueDr and Insignia Health in 2021, and Access eForms in August 2023, which have enhanced its product suite and market penetration. Understanding these Phreesia investors is crucial for grasping the company's financial structure and its commitment to its Mission, Vision & Core Values of Phreesia.

Key Phreesia Stakeholders

Phreesia's ownership is largely concentrated among institutional investors, indicating significant external confidence in the company's performance and growth trajectory.

• Fmr LLC: 9.55%
• BlackRock, Inc.: 9.09%
• The Vanguard Group, Inc.: 8.30%
• Insiders: 8.53%
• Total Institutional Ownership: 94.64%

Phreesia PESTLE Analysis

• Covers All 6 PESTLE Categories
• No Research Needed – Save Hours of Work
• Built by Experts, Trusted by Consultants
• Instant Download, Ready to Use
• 100% Editable, Fully Customizable

GET TEMPLATE ➔

Phreesia's governance structure is overseen by its Board of Directors, which includes key figures from its founding and investment communities. Chaim Indig, Co-Founder and CEO, and Evan Roberts, Co-Founder and President of Provider Solutions, are integral to the executive leadership and board. Michael Weintraub serves as the Founding Chair, and Edward L. Cahill, a partner at HLM Venture Partners, represents significant early investor interests.

Phreesia operates under a straightforward voting structure where each share of its single class of stock carries equal voting rights, adhering to a one-share-one-vote principle. There are no indications of dual-class shares or other mechanisms that would concentrate voting power. However, the company's foundational documents stipulate that amendments to certain bylaws or specific provisions within its certificate of incorporation require the approval of at least 75% of all outstanding voting stock. The board retains the authority to issue preferred stock under terms it determines, without requiring immediate stockholder approval, which could impact future voting dynamics. While the company actively promotes board refreshment and conducts annual evaluations of its board and committees, alongside maintaining stock ownership guidelines for directors and executives, there have been no recent public reports detailing proxy contests or activist investor campaigns. Understanding the company's financial operations is key, and details on the Revenue Streams & Business Model of Phreesia can provide further insight.

Board Governance and Shareholder Rights

Phreesia's board structure emphasizes a balance of founder, investor, and independent perspectives. The company's voting power is distributed through a single class of stock, ensuring equal voting rights per share.

• One-share-one-vote structure is in place.
• Amendments to key corporate documents require a 75% supermajority vote.
• Board has authority to issue preferred stock.
• Focus on board refreshment and annual evaluations.

Phreesia Business Model Canvas

• Complete 9-Block Business Model Canvas
• Effortlessly Communicate Your Business Strategy
• Investor-Ready BMC Format
• 100% Editable and Customizable
• Clear and Structured Layout

GET TEMPLATE ➔

Over the last few years, Phreesia's ownership structure has seen a significant increase in institutional investor presence. As of June 2025, these investors collectively hold a substantial 98.96% of the company's shares, a level maintained since March 2025. This trend highlights the growing confidence in Phreesia's market position and future prospects among major financial entities.

Recent insider stock transactions in the second quarter of 2025, specifically in July 2025, involved executives executing 'sell-to-cover' sales. This is a common practice to manage tax liabilities arising from vested restricted stock units (RSUs). For example, CEO Chaim Indig sold 3,171 shares, adjusting his direct holdings to 1.25 million shares. COO Evan Roberts sold 1,892 shares, retaining 772,915 shares. These transactions occurred within a price range of $26.38–$27.29 and are considered routine, aligning with the company's 2019 and 2023 Incentive Plans that typically vest over three to four years, thereby linking executive compensation to long-term shareholder value.

Phreesia's Strategic Growth Through Acquisitions

Phreesia has actively expanded its capabilities and market reach through strategic acquisitions, notably including MediFind and Access eForms, LLC. These moves enhance the company's product portfolio and client engagement strategies.

Financial Performance and Analyst Outlook

For the fiscal year ending January 31, 2025, Phreesia reported total revenue of $419.8 million, marking an 18% year-over-year increase. The company also achieved positive free cash flow of $8.3 million in fiscal 2025, a significant improvement from the previous year.

Positive Analyst Ratings and Future Projections

Analysts maintain a 'Buy' consensus for Phreesia, with an average price target of $32.27, suggesting a potential upside of 22.66% as of August 1, 2024. The company projects fiscal 2026 revenue between $472 million and $482 million, indicating continued growth expectations.

Understanding Phreesia's Executive Compensation Structure

The company's incentive plans, established in 2019 and updated in 2023, are designed to align executive interests with long-term shareholder value. Vesting periods typically span three to four years, ensuring sustained commitment from leadership.

Phreesia Porter's Five Forces Analysis

• Covers All 5 Competitive Forces in Detail
• Structured for Consultants, Students, and Founders
• 100% Editable in Microsoft Word & Excel
• Instant Digital Download – Use Immediately
• Compatible with Mac & PC – Fully Unlocked

GET TEMPLATE ➔