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 current buyers Allos Ventures and M25.
The funding accelerates Carefeed’s growth 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 keeping with Carefeed.
Its communication know-how automates paper processes akin to admission agreements and calendars, phone-based security bulletins, and care convention schedules and distributes them by way of textual content, e 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 by way of 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 supplied by startup buyers. That is Allos’s second funding in Carefeed, in keeping with John McIlwraith, managing director of Allos.
M25 is an early-stage enterprise agency based mostly in Chicago that invests solely in tech startups headquartered within the Midwest. Since launching in 2015, M25 mentioned it has develop into essentially the most energetic investor within the area.
WHY THIS MATTERS
Carefeed’s platform is being utilized by a number of the largest senior residing firms in the US. Its platform affords time- and cost-saving options to help 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 relations to entry info particular to their family members along with necessary community-wide updates.
THE LARGER TREND
Communication with household was particularly necessary in the course of the COVID-19 pandemic when relations couldn’t go to with family members in particular person.
Terry Wall, founder and CEO of Carefeed mentioned, “Individuals working in senior care and different care supplier settings have been below monumental stress – particularly due to COVID-19 – and we’re always growing and enhancing options to help their efforts to ship high-quality care.”
Twitter: @SusanJMorse
Electronic mail the author: SMorse@himss.org
