Investors have forked over $33 million in a brand-new circular of funding for Redox, hoping that the company can execute on its bid to serve as the link between healthcare providers and the technology companies bringing brand-new digital services to mart.
The financing comes just two months after Redox sealed a deal with Microsoft to act as the integration partner connecting Microsoft’s Teams product to electronic health records through the swift Healthcare Interoperability Resources quality.
Redox sits at a critically important crossroads in the modern healthcare industry. Its founder, a former employee at the electronic health record app provider saga, knows more than most about the central position that data occupies in U.S. healthcare at the time.
“What we’re doing, we’re construction the platform and connector to assist health systems integrate with technologies in the cloud,” says ruler executive, Luke Bonney.
Bonney served as a group guide in various divisions at saga before launching Redox, and the Madison, Wis.-based company was crafted with the challenges other vendors faced when trying to integrate with legacy systems like the health record provider.
“The fundamental problem is helping a big health system use a third-party equipment that they want to use,” says Bonney. And the biggest obstacle, he said, is finding a path to organize into a format that application developers can work with the data coming from healthcare providers.
Investors including RRE Ventures, Intermountain Ventures and .406 Ventures joined brand-new investor Battery Ventures in financing the $33 million circular. As part of the deal, Battery Ventures general partner Chelsea Stoner will take a seat on the company’s board.
Application developers pay for the number of integrations they have with a health system, and Redox enables them to connect through a quality application programming interface, according to the company.
Its come allows secure messaging across any format associated with an organization’s electronic health record (EHR), the company said.
Redox works with more than 450 healthcare providers and hundreds of application developers, the company said.
High-profile healthcare networks that work with the company include AdventHealth, Atrium Health, Brigham & Women’s, 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.