Carefeed, a supplier of cloud-based and HIPAA-compliant digital communication options, closed a $3 million financing spherical led by Reformation Companions with participation from present traders Allos Ventures and M25.
The funding accelerates Carefeed’s enlargement of its SaaS platform to expert nursing and senior residing communities, in addition to different affected person care settings throughout the US and Canada.
Its HIPAA-secure SaaS platform digitizes and allows simplified distribution of data and supplies senior healthcare suppliers and different care suppliers share with sufferers, residents, households, workers, referral sources and others, in accordance with Carefeed.
Its communication know-how automates paper processes similar to admission agreements and calendars, phone-based security bulletins, and care convention schedules and distributes them by way of textual content, electronic mail and voice.
Buyers embody Reformation Companions, an early progress fairness agency that invests in capital-efficient enterprise and client firms at their level of breakout, and helps their progress via profitability, future financing rounds and exit.
Allos Ventures invests in seed and early-stage know-how firms, specializing in B2B software program firms and augmenting the capital offered by startup traders. That is Allos’s second funding in Carefeed, in accordance with John McIlwraith, managing director of Allos.
M25 is an early-stage enterprise agency primarily based in Chicago that invests solely in tech startups headquartered within the Midwest. Since launching in 2015, M25 mentioned it has grow to be essentially the most lively investor within the area.
WHY THIS MATTERS
Carefeed’s platform is being utilized by a few of the largest senior residing firms in the US. Its platform gives time- and cost-saving options to assist efficient communications whereas serving to communities keep compliant with the state and federal laws that govern the distribution and accessibility of data, Carefeed mentioned.
Moreover, Carefeed’s new household portal gives a one-stop hub for members of the family to entry data particular to their family members along with necessary community-wide updates.
THE LARGER TREND
Communication with household was particularly necessary through the COVID-19 pandemic when members of the family couldn’t go to with family members in particular person.
Terry Wall, founder and CEO of Carefeed mentioned, “Folks working in senior care and different care supplier settings have been underneath monumental strain – particularly due to COVID-19 – and we’re continuously creating and enhancing options to assist their efforts to ship high-quality care.”
Electronic mail the author: SMorse@himss.org