Repisodic plans to use the new funds to scale the business, and recruit marketing, sales, and technology employees in Q1 2020.
“We have built a technology platform that has categorically changed the way discharge planners manage their day-to-day patient workload with an intuitive and modernized approach to the process,” Repisodic CEO Mike Cwalinski said in a statement. “Having a partner like American Enterprise Ventures will allow us to strengthen our market position and scale the business, both organizationally and technologically.”
The Repisodic software helps patients, families, and caregivers navigate care transitions from the hospital and post-acute care settings. The software helps discharge planners to provide patients with the tools they need to evaluate, understand, and choose post-acute care and other follow-up care services for when they leave the hospital.
“Repisodic is a fantastic add to our ecosystem of solutions supporting and expanding our customer experience,” Julie Pearce, director of Innovative Solutions for American Enterprise Ventures, said in a statement. “We feel the solution fills a gap in our short-term care insurance market and will help transform our interactions with our customers. The company and its founders have the stamina to grow the platform nationwide, and we are excited to be part of that growth.”
According to Mercom data, clinical decision-making companies raised a total of $3 billion in VC funding since 2010.
Similar technologies that raised funding:
RightCare Solutions, an evidence-based technology company that specializes in hospital discharge planning and readmission management, secured $6.75 million.
Medumo – an online digital platform company that allows providers to keep patients on track throughout their procedures, treatments, medical therapies, and discharges – raised $2 million.
Janus Choice, a provider of a digital health platform that improves the hospital discharge process and assists patients in selecting the appropriate skilled nursing facility, received a $50,000 from Prosper Women Entrepreneurs.