Bridge Connector, a provider of end-to-end data-driven healthcare workflow integration-platform-as-a-service, raised an additional $5 million, bringing its total VC funding to $25 million. The funding round was led by Jeff Vinik with participation from existing investor Axioma Ventures.
The company will use the new funds to develop its offerings and launch its interoperability platform that connects health data systems without the use of code.
“The last decade in health care has been marked by an explosion of technological advancements and new medical devices that gather an unprecedented amount of patient health data, but the ecosystem of available solutions to collect and connect that data has not advanced at the same pace,” said Tampa Bay Lightning owner Jeff Vinik in a company press release. “Solutions like the Bridge Connector platform will prove crucial in improving patient care by allowing us to leverage these data points to unearth and act upon previously unknown insights about our health and wellbeing.”
Healthcare data integration companies raised $1.7 billion since 2011, according to Mercom data.
The Bridge Connector platform is built to integrate disparate healthcare data from various healthcare systems such as electronic health records and customer relationship management systems, practice management software, and third-party systems.
The company says its integration solutions help healthcare provider organizations with clinical and operational insights and automate workflows without any technical expertise. Its solutions are used across the healthcare practice, including ambulatory care, behavioral health, skilled nursing, and long-term care, and hospitals and health systems.
“We feel fortunate to have the support of an experienced investor in Jeffrey Vinik, who shares our belief in the power of data and its potential to solve an array of shortcomings in our health care system,” said Bridge Connector founder and CEO, David Wenger in a press release. “Mr. Vinik’s investment will play a significant role in our company’s growth, our ability to expand the capabilities of our products, and it will help us build a more cohesive health care system that treats patients more effectively.”
Similar technologies that received funding include:
TransformativeMed, a developer of electronic health record-integrated clinician coordination and messaging software, closed a $5.8 million. AllyAlign Health, a provider of cloud-based integrated care coordination solutions, also received $10 million in a strategic investment.
BehaveCare, an integrated healthcare coordination platform that improves outcomes and reduces overall healthcare costs, raised $7.2 million.
In the first nine months of 2019, the Digital Health sector raised $7.2 billion in VC funding.