Bridge Connector, a healthcare integration solutions provider, raised $25.5 million in Series B.
Axioma Ventures led the funding round, joined by veteran investor Jeff Vinick and other existing investors. The latest round brings the company’s total funding to over $45 million to date.
With the funding, the company plans to increase its market share in healthcare interoperability with new platform Destinations, an integration-platform-as-a-service (iPaaS) connecting health data systems using use-case-based interoperability blueprints to speed integrations with major vendors.
The company currently offers a suite of vendor-agnostic integration solutions and a full-service delivery model, enabling healthcare vendors, providers, and payers to share data between diverse systems, such as electronic health records or patient engagement solutions.
Bridge Connector Founder and CEO, David Wenger said, “The level of support we have received from our investors and key partners demonstrates the disruptive power of what we are doing.” “The lack of integration in health care has resulted in care teams relying on antiquated technology like fax machines to relay mission-critical information. In the face of the COVID-19 pandemic, it has never been clearer that this inability to share patient data between health care technology vendors creates dangerous care gaps that can mean the difference between life and death for some patients. Bridge Connector is building an ecosystem of connected solutions that are solving this problem.”
“We believed strongly in Bridge Connector’s mission to improve interoperability in health care when we made our seed investment, and they’ve exceeded all of our expectations along the way, which has participated in each of Bridge Connector’s funding rounds. The company’s growth in the two years since has validated our belief in the technology and brightened the outlook for an interoperable health care system. With the company on track for 800 to 1000% growth in 2020, we are eager to see how our continued investment will help Bridge Connector impact the industry and create a health care system that works better for patients” Howard Jenkins, former CEO of Publix Super Markets, and co-founding partner of Axioma Ventures commented in the press release.
Healthcare practice management companies raised $233 million in the first half of 2020. Recently, MediSponsor, a provider of practice management solutions for hospitals, raised $50 million.
Image credit: Bridge Connector