Cultivation Capital led a $1.6 million funding round in BlueStrata, which provides an electronic health record system built for the long-term care market. Cultivation invested $500,000. Bill Schmidt, managing partner of Cultivation, will join the BlueStrata board.
Cultivation Capital leads a $1.66M financing round by making a $500,000 investment in BlueStrata, a SaaS model electronic health record system designed and tailored specifically for the needs of the long-term care market. BlueStrata’s mission is to improve the quality of resident care while increasing operational, administrative and financial performance.
BlueStrata, a St. Louis based company, is well positioned to compete with the largest providers in the fast paced field of HealthIT. When implementing their solution, a focus on understanding the customer’s needs and working to fully implement their product faster than others, has allowed them to differentiate their approach. Since its inception in 2012, the company has been building a base of business in the Midwest and is now working to expand its geographic reach.
Bill Schmidt, Managing Partner of Cultivation Capital Life Sciences fund will be joining the board as part of the investment.
“BlueStrata’s penetration into the expanding long term care market has been impressive. With a growing customer base and a well sought after platform solution, we see BlueStrata as well positioned to be a key player in an attractive market,” stated Bill Schmidt, Managing Partner at Cultivation Capital.
BlueStrata plans to use the investment for executing a strategic vision and plan for growth, which includes sales expansion, marketing, partnerships and current implementation of SaaS solution.
“A key to maintaining our continued growth is working with experienced leaders to help quickly navigate any obstacles and accelerate our strategic plans,” says Tony Coco, President at BlueStrata. “We consider our partnership a perfect fit, blending the expertise at Cultivation Capital with the organizational momentum we have built at BlueStrata.”
About Cultivation Capital
Cultivation Capital is a St. Louis-based early stage Venture Capital firm investing in high potential technology and Life Sciences companies throughout the Midwest. Cultivation Capital is managed by a team of experienced entrepreneurs, who have started more than 30 companies, raised more than $200 Million dollars and had several successful exits. For more information, visit http://www.cultivationcapital.com.
BlueStrata EHR is a SaaS model electronic health record system designed and tailored specifically for the needs of the long-term care market. Our mission is to improve the quality of resident care while increasing operational, administrative and financial performance. The BlueStrata implementation process incorporates the customer’s work-flow into the training program and allows users to adapt quickly, integrating the full EHR solution throughout the organization. When using our software, the user experiences simplicity in entering information one time in a clinical interface and increases their productivity as the data is shared throughout the system. The system provides reliable, secure and HIPAA compliant storage of resident health records.