Redox has closed a USD 9 million Series B round of financing to accelerate product development led by RRE Ventures. Other companies contributing to the achievement include Existing investors, .406 Ventures, HealthX Ventures and Flybridge Capital Partners. The fund raise comes as the company’s efforts to enable API as a vehicle for data sharing more manageable for healthcare facilities. The Madison, WI-based company plans to utilize the latest round of funding to accelerate its product roadmap along the way to building the industry standard platform for seamless interoperability between health technology developers and health systems.
To share a patient’s data across systems is a complex, manual and time-consuming process. Founded in 2014 by former Epic Systems employee engineers, Redox integrates with all major EHR systems by connecting to existing health system infrastructure, significantly reducing implementation time by eliminating the need to account and configure for system variance. Another interesting feature provided by API platform is the ability of the app to push and pull patient data to and from the EHR, creating an expanded, more cohesive record of a patient’s health. As a result, Redox customers experience less disruption, see faster patient continuity of care benefits, and also realize a quicker return on their investment.
“We founded Redox around the idea that a networked approach is the only scalable way to achieve the promise of full interoperability.” said Luke Bonney, CEO and co-founder of Redox in a statement. “We view it as our mission to help the industry break the habit of building point-to-point connections that is expensive, unreliable, and ultimately exacerbate the problem. Instead, the efficiency of our interoperable network increases with each node we add. While we support various healthcare data standardization initiatives, we don’t think our clients will have to wait for these new standards to mature when, today, Redox can unlock the potential that full interoperability brings.”
In addition to application developers, Redox works directly with health systems to integrate with their network of applications, interoperate with affiliated providers and hospitals, and share clinical data with payers.