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 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 knowledge and supplies senior healthcare suppliers and different care suppliers share with sufferers, residents, households, employees, referral sources and others, based on Carefeed.
Its communication expertise automates paper processes resembling admission agreements and calendars, phone-based security bulletins, and care convention schedules and distributes them by way of textual content, e-mail and voice.
Traders embrace Reformation Companions, an early progress fairness agency that invests in capital-efficient enterprise and shopper firms at their level of breakout, and helps their progress by profitability, future financing rounds and exit.
Allos Ventures invests in seed and early-stage expertise firms, specializing in B2B software program firms and augmenting the capital offered by startup buyers. That is Allos’s second funding in Carefeed, based on 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 stated it has grow to be probably the most lively 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 presents 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 knowledge, Carefeed stated.
Moreover, Carefeed’s new household portal gives a one-stop hub for relations to entry data particular to their family members along with vital community-wide updates.
THE LARGER TREND
Communication with household was particularly vital through the COVID-19 pandemic when relations couldn’t go to with family members in individual.
Terry Wall, founder and CEO of Carefeed stated, “Folks working in senior care and different care supplier settings have been underneath monumental strain – particularly due to COVID-19 – and we’re continuously growing and enhancing options to assist their efforts to ship high-quality care.”
E-mail the author: SMorse@himss.org