Durham, U.S.A-based market-leading digital health and remote care company, Validic raised USD 12 million in the latest financing. The company announced the fundraise on November 14, 2022. National strategic healthcare investment program focusing on solutions that meaningfully improve quality, service and affordability for patients, providers, healthcare delivery systems, and the larger community, Kaiser Permanente Ventures led the financing for the firm. Meanwhile, existing and new investors, including Arkin Digital Health, Green Park & Golf Ventures, Ziegler, Gore Range Capital, Greycroft Partners, and SJF Ventures, joined in the funding.

Purpose of financing for Validic

With the recent proceeds, Validic intends to continue investing in its digital health as well as remote care platform. Its platform sets the standard for EHR integration of digital health data and clinical data within the clinician workflow. Moreover, it ensures the most complete and up-to-date patient health data is always available.  

What the CEO of the company has to say

CEO of Validic, Drew Schiller, said, “With the rapid growth of digital health technologies, people expect a more personalized, engaging and convenient experience with healthcare providers. Blending in-person and virtual care modalities, as well as incorporating personal health data and devices into the standard of care, enables greater collaboration, better care, improved patient satisfaction, and care team efficiency.”

He further continued, “Validic’s proven remote care technology and infrastructure make this an easy and seamless experience for providers and patients and can be deployed on a national scale. We are incredibly fortunate to have investors like Kaiser Permanente Ventures and others who share our mission of improving the quality of human life by making personal data actionable.”

What the investor has to add 

Chris Stenzel, executive managing director for KP Ventures, said, “Validic has been and continues to be an important part of Kaiser Permanente’s efforts to improve quality of care for our 12.6 million members in a way that is more convenient, accessible, and affordable. We are proud to lead this latest funding round, which will help us continue to deliver technology as well as tools for health promotion, disease prevention, state-of-the-art care delivery, and world-class chronic disease management.”

About the company 

In 2010 founders Drew Schiller and Ryan Beckland launched the company. The company built the world’s largest healthcare IoT platform to transform personal data into insights and actions that improve healthcare delivery. Validic’s platform boasts more than 540supported devices, including Accu-Chek, Apple Health, Dexcom, FitBit, Garmin, Google Health, iHealth, Misfit, Omron, Samsung Health, Strava, Withings, Zewa, and more, with over 15 billion annual data transactions.

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Jasleen Bhatia works as a content writer for VCBay News. She is pursuing her final semester in Bachelor of Business Administration from IIPS, DAVV. Driven by her keen interest in entrepreneurship and finance, she writes business-related articles.

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