Care Thread, a healthcare mobile messaging app provider, has raised $350,000 in a $750,000 seed round.
Leading the funding round was the Slater Technology Fund with $250,000. Also taking part were angel investors who offered an additional $100,000, according to news reports. The identity of the angel investors was not released.
The money will be used to advance development and commercialization of the firm’s mobile messaging offering.
Also, Care Thread was recently named “App of the Month” by Nuance Healthcare. Care Thread provides healthcare pros a HIPAA-compliant mobile messaging solution that features real-time content on the status and treatment of patients. Care Thread also provides tools featuring care summaries and lists of tasks for a patient’s care team.
“Care Thread is solving a really important problem in a mission-critical setting,” Thorne Sparkman, managing director of the Slater Technology Fund, said in a statement. “Teams of doctors and nurses are collaborating twenty-four hours a day to save lives, and they’re trying to reach each other with pagers. Now that many members of care teams are carrying sophisticated mobile devices in their pockets, the time for the messaging paradigm to change is here.”
Care Thread was founded in 2011 by Dr. Scott Guelich, who is now the company’s CEO. He sees communications as vital for hospitals.
“Very rarely do you see a hospital where everyone’s on a common messaging solution,” Guelich told Mobile Health News. “This is an industry that still spends over a billion dollars a year for pagers. And non-physicians don’t typically carry pagers.”
The Slater Fund is a Rhode Island-backed economic development fund that invests in technology companies. Slater supports entrepreneurs who want to build commercial enterprises, with likely jobs to be created in Rhode Island. Many of their projects relate to academic institutions and/or government research labs. The Slater Fund invests in the seed stage of a venture, often involving: life sciences; software, Internet and media; or energy technology, according to the fund’s investment strategy.
Edited by Brooke Neuman