Cureatr, a mobile care coordination solution for healthcare providers, has secured $5.7 million in Series A financing. The funding round was co-led by Cardinal Partners and Milestone Venture Partners with JMI Services and the Partnership Fund for New York City participating.
Cureatr, the nation’s fastest growing mobile care coordination solution for healthcare providers, today announced it has secured $5.7 million in Series A financing. The new funds will be used to help fuel Cureatr’s aggressive growth plan and drive adoption of its mobile provider communication and workflow navigation platform. Cureatr’s best-in-class product includes HIPAA-secure group text messaging, care-team mapping, and other patient-centric tools to improve point-of-care workflows for teams of physicians, nurses, and care managers. The funding round was co-led by Cardinal Partners and Milestone Venture Partners with JMI Services, LLC and the Partnership Fund for New York City participating. Brandon H. Hull, Cardinal Partner’s Managing Partner and Todd Pietri, Milestone Venture Partner’s General Partner and co-founder, will both join Cureatr’s Board of Directors.
Cureatr’s enterprise solution is available as either a native Android and iPhone app, in addition to a desktop version.
“We are thrilled to be partnering with the industry’s leading healthcare technology venture capital firms as we further accelerate our growth and product development,” said Joseph Mayer, M.D., Cureatr’s CEO and co-founder. “Cureatr’s mobile tools have already directly impacted how care is coordinated for complex, chronically ill patients for our customers. With this financing, we are well-positioned to support and further drive the adoption of our solutions where they can help the most: the nation’s largest care delivery organizations.”
Dr. Mayer launched Cureatr in 2011 while a resident physician at The Mount Sinai Medical Center with Alex Khomenko, the former Director of Engineering at 23andMe, a was soon joined by team of physicians trained at Columbia University College of Physicians & Surgeons and Mount Sinai, and technologists from Stanford, PayPal, and Bell Labs. The Company’s customers include the leading academic medical institutions and care delivery organizations in the nation such as Davita HealthCare Partners (NYSE: DVA), The Mount Sinai Medical Center, The New York Eye & Ear Infirmary, and Albany Medical Center.
“The demand for enterprise-grade mobile and care coordination tools in healthcare is growing faster than any other market segment. Cureatr’s unique platform and clinician-led team address the growing communication breakdowns and workflow inefficiencies in the delivery of care that result in preventable medical errors and poor outcomes, as well as significant financial losses and provider and patient frustration. We are excited to join their team,” said Brandon H. Hull.
Cureatr’s enterprise solution is available as either a native Android and iPhone app, in addition to a desktop version. Cureatr creates clinical-vertically tailored clinical workflows by building its platform around specific use-cases with input from clinical champions, IT leaders and end-users directed toward process redesign. This enables a rapid, meaningful impact on clinical workflow, improving efficiency and quality and delivering a quick, measurable return on investment. To request access or for more information about Cureatr for your organization, visit https://cureatr.com/contact-sales.
“We feel Cureatr represents a major disruptive force in the advancement of mobile care coordination and are excited to further our investment in the Company, who we have gotten to know well as a seed investor through the New York Digital Health Accelerator,” said Todd T. Pietri. “Their innovative mobile technology platform is already allowing them to address their customers’ critical and growing communication needs of providers and helping to diminish compliance and security risks.”
“As a physician delivering care in a busy specialty hospital, the ability to rapidly and effectively communicate among the members of my care teams is paramount,” said Dr. Andrew Nightingale, a resident at the New York Eye & Ear Infirmary. “Until now, there simply were not adequate tools available to providers to deal with the day-to-day challenges of treating patients and navigating the many complex clinical workflows at a hospital. Cureatr has delivered that solution to the market.”
In October 2012, Cureatr was honored to be selected, from 250 applicants, to be part of the inaugural eight-company class of the New York Digital Health Accelerator (NYDHA), which is supported by The New York eHealth Collaborative (NYeC), the Partnership Fund for New York City (Partnership Fund), and over twenty leading payer and provider organizations.
Cureatr is the nation’s fastest growing mobile care coordination solution for healthcare providers. By combining HIPAA-secure text messaging with workflow navigation tools to enhance care-teams’ efficacy at carrying out critical, often-repeated clinical workflows Cureatr makes it easier for doctors, nurses and others to provide high quality care to their patients. The solution is available as an Android, iPhone, and Web app. Led by a physician trained at Columbia, the former Director of Engineering of 23andMe, and the former head of sales at athenahealth, Cureatr focuses on making critical day-to-day tasks easier for all care-team members, while improving standardization and reporting for health system executives.
For more information, visit www.cureatr.com.
About Cardinal Partners
Cardinal Partners is an early stage healthcare venture capital firm, which specializes in healthcare IT. For more information, visit http://www.cardinalpartners.com.
About Milestone Venture Partners
Milestone Venture Partners, located in New York City, is an early-stage, information technology venture capital fund with $100 million under management. Milestone has invested in 17 Digital Health businesses, which provide technology solutions to hospitals, physicians, pharmaceutical firms, health plans and consumers. Prior successful exits include Medidata Solutions (Nasdaq:MDSO), CareGain (sold to Fiserv), Octagon Research Solutions (sold to Accenture), MedPage Today (sold to Everyday Health) and Premise Development (sold to Eclipsys). Please visit www.milestonevp.com for additional information.
About JMI Services, LLC.
JMI Services, LLC is the venture capital vehicle for the family investment company of John J. Moores, the founder and former Chairman and Chief Executive Officer of BMC Software, Inc. Representative investments include the San Diego Padres, ServiceNow (NYSE: NOW) and hotel properties in California, Hawaii, Texas, Wyoming and Colorado.
About the Partnership Fund for New York City
The Partnership Fund for New York City (www.pfnyc.org) — formerly the New York City Investment Fund — is the vision of Henry R. Kravis, founding partner of Kohlberg Kravis Roberts & Co., who serves as its Founding Chairman. The Fund has raised over $110 million to mobilize the city’s world financial and business leaders to help build a stronger and more diversified local economy. It has built a network of top experts from the investment and corporate communities who help identify and support New York City’s most promising entrepreneurs in both the for-profit and not-for-profit sectors. The Fund is governed by a Board of Directors co-chaired by Richard M. Cashin, Managing Partner of One Equity Partners, and Charles “Chip” Kaye, co-president of Warburg Pincus LLC. The Partnership Fund is an affiliate of the Partnership for New York City (www.pfnyc.org), an organization of the leaders of New York City’s top corporate, investment, and entrepreneurial firms. They work in partnership with city and state government officials, labor groups, and the nonprofit sector to promote the interest of the city and its neighborhoods.
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Michael Schneider, 917-821-3441