Redox just completed a $9M Series B funding round, led by RRE Ventures. Redox is a local startup that is accelerating technology adoption in healthcare with cloud-based applications. These applications are revolutionizing the way healthcare data is shared among healthcare organizations, patients, researchers, and technology providers.
Redox plans on using the funding to continue improving their technology and expanding its use. Since their applications are centralized, they will become more powerful as the number of users increases. The ultimate goal is to create a system where clinical data follows patients so that any hospitals or specialists they visit will be able to easily access their information.
Read more about Redox and their growth strategy here
Sector67 has raised $450,000 of their $600,000 capital campaign goal that will go towards building a new home in downtown Madison. But Sector67 still needs your help!
The non-profit organization, which recently celebrated their 6-year anniversary, is a community hackerspace where entrepreneurs are empowered to build, learn, and help each other innovate. Some of the many resources provided at Sector67 include a wood shop, 3D printers, laser cutters, metal fabrication tools, office space, and much more.
The funding campaign will ensure that Sector67 remains a staple in the Madison entrepreneurial community for years to come. Donors for the campaign include Madison Community Foundation, University Research Park, Madison Kipp, Stoughton Trailer, IEEE Entrepreneurs, Consultants Network, and many individual donors too.
Sector67 hopes to raise another $150,000 to complete the campaign and finish building their new 15,000 square foot space at 56 Corry Street. If you would like to contribute, you can do so here!
Propeller Health, an Asthma tracking startup, raised $21.5 million in series C funding. They will use the new funds to expand their product portfolio, which already includes 45 programs. According to CEO David Van Sickle, Propeller would also like to expand globally. The company launch in 2010 and has been growing rapidly thanks to relationships with key healthcare partners including Dignity Health and government programs like Molina Healthcare. You can learn more about Propeller here.
EatStreet is reported to have raised 11 million in another big round of funding.
The mobile food ordering platform is growing rapidly as they now serve 15,000 restaurants in over 250 cities across the US. EatStreet recently moved to new offices on the Capitol Square as they continue to expand. The Madison based company has now raised a total of 38.5 million dollars to date. You can read more about EatStreet here.
HealthMyne, a Madison-based health IT startup received $6.9 million in a recent funding round. This includes an investment from the Wisconsin Alumni Research Foundation. HealthMyne’s technology analyzes tumor images to help radiologists identify and track cancerous tumors. The product has been approved by the FDA and there are already pilot products in three hospitals. You can read more about HealthMyne here.
Moxe Health has recently announced a $5.5 million round of funding. The Madison-based company has developed tools that improve the flow of data in the healthcare industry. Among its many uses, Moxe’s software aids in the transfer of information between healthcare systems that use different software for handling patient records. The additional funds will allow Moxe to hire more employees and boost sales as they aim to double in size in the next year. You can read more about Moxe Health here.
Madison health IT startup Catalyze recently raised $6.5 million in funding. The growing Madison company does cloud computing for hospitals, facilitating communication between their electronic systems and other digital health companies. Catalyze will use the new funds to expand their team and develop new products that will help the broader healthcare industry use data to analyze the quality of health care their customers receive. You can read more about Catalyze here.
ABODO recently announced a $4.8 million round of funding.
The Madison-based startup is the creator of a popular software used by renters to locate apartments. Their service is already offered in 30 cities across the US, and they plan to use the funding to double that number by the end of 2017. In addition, the funding round led by 4490 Ventures will allow ABODO to move to bigger offices to accommodate their growing company.
With over 500,000 users per month, ABODO has positioned itself as a leader in the apartment search industry. They have now raised over $8 million to date. You can read more about ABODO here.
Ionic recently announced an $8.5 million round of funding.
Since the company’s inception in 2011, over 2 million apps have been created using the Ionic framework. The current round of funding will be used to boost sales and continue building out commercial services that go along with the open-sourced SDK. You can read more about Ionic’s raise here.
Madison based startup, AkitaBox, recently announced a $1.1 million round in seed funding.
The young company, which was founded in 2015, has developed a software that is used for managing buildings. More specifically, building operators use AkitaBox as a tool for optimizing operations and automating workflow. Previously, building operators had to spend an excess amount of time on tasks like manual data entry and building management. AkitaBox provides a solution that will ultimately allow managers to identify and prevent problems before they occur and save them time and money in the process.
AkitaBox already sells their software to national brands, such as UW Health and Aramark. They plan to use this round of funding to boost sales growth and further develop their product. You can read more about AkitaBox on Xconomy here.
Understory recently announced that they raised $7.5 million in a Series A round.
In addition, the company formerly known as Subsidence is moving its headquarters back to Madison, Wisconsin. Founded in 2012 and a graduate of the Gener8tor accelerator program, Understory is a tech startup that has developed a device that monitors information about the weather. Specifically, the solar powered technology is able to track humidity levels, temperature, rainfall, hail, and the speed and direction of the wind. Understory has gained a competitive advantage because their measurements are incredibly accurate, a product of collecting weather information from Earth’s surface as opposed to from the atmosphere.
The latest round of funding will allow Understory to build up to 250 new stations around the U.S. and hire additional employees to manage the growth. The company says it is moving its headquarters back to Madison for strategic reasons and also credits the move to the major growth in the Madison startup scene in recent years.
Understory has now raised $9.7 million to date. You can read more about Understory on Xconomy here.
Healthfinch has just announced a $7.5M Series A funding round led by Adams Street Partners.
The company, which was founded in 2011 by Jonathan Baron and Lyle Berkowitz, has developed a software that automates routine tasks that physicians would other wise have to complete. For example, Healthfinch’s applications automatically fulfill medication requests and schedule appointments. To date, the technology is used by over 2,000 physicians who have completed over 2.6 million tasks using Healthfinch.
The most recent funding round will be used to launch a new framework called Charlie, a platform that will serve to link all of Healthfinch’s applications together. In addition, the Series A round will allow the company to hire additional engineers.
Healthfinch has now raised over $10 million in funding. You can read more about Healthfinch’s recent raise on Xconomy here.
Healthtech startup Redox has closed a $3.5M Series A funding round led by Flybridge Capital Partners and HealthX Ventures. Redox is developing a platform API for healthcare integration, which connects health systems to an ecosystem of health tech applications. Over 120 application developers have signed up for API access so far and Redox is targeting to increase that number to 500 by the end of 2016. Redox also recently was the winner of the Traction pitch competition at the Health 2.0 conference.
Read more on Xconomy here.
Fetch Rewards raised $4 million in Series A funding recently. The company, which has developed an innovative app for grocery shoppers, will use the money to scale their business from 10 stores to as many as 100. The service allows customers to track their purchases as they go and apply coupons when they are available. Shoppers also accumulate points for using Fetch, which can be redeemed to buy special in store items. To date, Fetch has raised $8.5 million.
Read more about Fetch Rewards recent funding here.
Madison and San Francisco based startup SnowShoe recently announced a $1M funding round. They had previously raised $2.5M in earlier rounds.
Founded by three UW graduate students in 2011, SnowShoe sells an intelligent piece of plastic that interacts with touch screens. Among its many uses, the plastic stamp allows users to instantly download music, authenticate purchases, and even transport real life toys into online video games. The newest round of fundraising will allow the company to scale up production of its stamps to reduce the selling price from $2.50 a stamp to fewer than 50 cents each.
SnowShoe, who recently completed the TechStars Disney Accelerator, also announced a new platform that will allow developers to more easily integrate their web pages with the stamps. Read more about SnowShoe and their latest developments on TechCrunch and Xconomy.
Catalyze recently completed a $4M funding round. The company previously raised a $2M Series A round following completion of the gener8tor accelerator program in 2013. Catalyze provides HIPAA-compliant cloud computing services for the healthcare industry.
More information can be found on Xconomy here.
Drifty recently completed an additional $2.6 million funding round led by Lightbank in Chicago, with additional participation from Arthur Ventures. Drifty previously raised $1 million in funding last year, and this latest investment marks Lightbank’s second investment in a Madison based company following their investment in PerBlue last year.
Drifty is the creator of the Ionic Framework, which makes it possible for web developers to build and publish native mobile applications. Ionic is one of the top 50 most popular open source projects in the world, and is used by developers ranging from individuals to Fortune 50 companies.
Read more about Drifty and their latest funding round on TechCrunch here.
Healthfinch recently completed a $1.5M financing round led by Jumpstart Ventures. Healthfinch has raised $2.8M total since its founding in 2011. Healthfinch focuses on automating and improving the routine, repeatable work that physicians and healthcare staff are tasked with. The company’s first product, Swoop, focuses on increasing the efficiency of prescription refill requests and is used by more than 1,000 doctors to process more than 1 million prescription refill requests since launching in 2012. Healthfinch intends to expand their product line in the coming year.
More information on this financing round can be found on Xconomy here.
HealthMyne announced that it has raised $4.5 million in a Series A round of investment. The round was led by Venture Investors and 4490 Ventures. Additional participation included HealthX Ventures and several prominent angel investors.
HealthMyne is an early stage healthcare informatics company focused on bringing evidence-based imaging analysis to the point of care, and was founded in 2013 by a seasoned group of passionate healthcare industry entrepreneurs who have enjoyed overlapping business success. The funds will be used to expand and accelerate HealthMyneâ€™s product development, regulatory, and commercialization efforts.
More information can be found here.
Wellbe has closed a new $2.42 million funding round. Wellbe helps hospitals adapt to new market expectations for value-driven care by leveraging patient navigation to reduce risk, improve efficiency and increase competitiveness. The cloud-based platform combines vital tools for patient engagement and care coordination to help patients and care teams achieve satisfying outcomes by actively engaging them with step-by-step guidance along their journey of care.
More information is available here.