Redox,
the company that is changing the way healthcare providers and software
vendors share data, today announced that the company closed a $33
million Series C funding round led by global investment firm Battery
Ventures with participation from existing investors .406 Ventures,
RRE Ventures, and Intermountain Ventures.
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to Tweet: Excited to announce @Redox raised $33 million in Series C
funding w/ @BatteryVentures, @406Ventures, and Intermountain Ventures http://bit.ly/battery-redox
#interoperability #funding #digitalhealth
As part of the transaction, Battery General Partner Chelsea Stoner, an
experienced software investor, will join the Redox board. The funding
comes as Redox has shown tremendous customer momentum in its bid to
enable faster, more secure, and reliable data sharing between healthcare
vendors and providers.
The Redox platform squarely addresses one of the biggest barriers to
innovation in healthcare today: the inability to easily use and exchange
data among healthcare organizations and the software solutions they use.
Currently, inconsistent data formats and redundant connections slow, or
completely prevent, the flow of critical health information, hindering
patient care. Redox changes this by dramatically simplifying
communication, making data actionable and more shareable. With Redox,
software developers enable easy access through an intuitive and
standardized application programming interface (API). Redox’s
vendor-agnostic approach allows messages to be sent or received securely
in any format associated with an organization’s electronic health record
(EHR).
As a result, Redox’s technology powers a streamlined workflow for
caregivers, improving care delivery and the patient experience.
Clinicians can use a variety of targeted apps and technology to meet
their needs, instead of a one-size-fits-all approach.
“Redox’s success is built on the success of our customers, the most
innovative software solutions and healthcare organizations in the market
today,” said co-founder and CEO Luke Bonney. “We have a saying at Redox:
‘We are all patients.’ This informs our perspective about what we do as
we build the infrastructure our customers rely on every day. We’re
grateful to be in a position to help solve one of healthcare’s thorniest
challenges.”
Today, a rapidly growing list of over 450 healthcare providers and
hundreds of cloud-based applications use the Redox Interoperability
Platform to easily exchange information with partners. Among the
hundreds of high-profile healthcare organizations and technology vendors
working with Redox are AdventHealth, Atrium Health, Brigham
& Women’s Hospital, Clarify Health, Cleveland Clinic, Geisinger,
HCA, Healthgrades, Intermountain Healthcare, Invitae, Fitbit, Memorial
Sloan Kettering, Microsoft, Ochsner, OSF
HealthCare, PointClickCare,
R1, ResMed, Stryker, UCSF, University of Pennsylvania, and WellStar.
In addition to its numerous customer wins and strategic partnerships, Redox
was selected by Gartner as a 2018 Cool Vendor for the company’s
innovative, high-impact, and pioneering work. This recognition
highlights the company’s unique approach to interoperability through a
networked model utilizing a strictly enforced, consistent data model.
“Redox is a driving force in solving healthcare’s interoperability
challenge,” said Stoner. “We were blown away by the network effects
Redox has already generated and how foundational its platform has become
to achieving the promise of digital health. Given its top-notch
leadership team and the important problem it is solving, there was no
question that Redox was a company we wanted to partner with.”
About Redox
Redox accelerates the development and distribution of healthcare
software solutions with a full-service integration platform to securely
and efficiently exchange data. Healthcare delivery organizations and
technology vendors connect once and authorize the data they send and
receive across the most extensive interoperable network in healthcare.
Redox exists to make healthcare data useful and every patient experience
a little bit better. Learn how you can leverage the Redox platform at www.redoxengine.com.
About Battery Ventures
Battery strives to invest in cutting-edge, category-defining businesses
in markets including software and services, Web infrastructure, consumer
Internet, mobile and industrial technologies. Founded in 1983, the firm
backs companies at stages ranging from seed to private equity and
invests globally from offices in Boston, the San Francisco Bay Area,
London, Israel and New York. Follow the firm on Twitter
@BatteryVentures, visit our website at www.battery.com,
and find a full list of Battery’s portfolio companies here.
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