Healthcare data is a mess and Metriport is here with a broom – TechCrunch
You’d have thought that the quantified self movement was stalling out, but Metriport would like to tell you otherwise, thank-you-very-much. We covered the company back in February , plus now it has raised $2. 4 million to evolve to the particular next level.
The organization went through Y Combinator, and in the process discovered how fractured the healthcare IT space has been.
“One major issue that exists in the particular U. S. today is the fact that many individuals still aren’t able to access their own medical data, largely due in order to gatekeeping by hospitals plus other healthcare providers. This is because these hospitals and providers use proprietary software systems that make it difficult for patients to access their own medical records or to share them with other companies, ” says Colin Elsinga, co-founder & COO at Metriport, in an interview with TechCrunch. “We realized that there had been so much work to be done in this space to make the data more accessible and that hardly anyone in the space was working on an open source, non-proprietary solution. Since we’ve always been mission-driven founders, having previously built the consumer health app, we decided to go after this larger problem with the goal of democratizing access in order to healthcare data and ultimately improve patient health outcomes. ”
The funding round came together with investment from Con Combinator, Triple Impact Capital, Nueterra Funds, Leonis Investissement, Zillionize, VentureSouq, Stonks and MyAsiaVC, along with a number of angel investors.
“The fundraise allowed us to grow our team plus accelerate our own engineering velocity, which will be great since we have a lot associated with product to build. Additionally , it allows us to pave the way through the various compliance and legal fees tied to entering the particular healthcare space, which is usually extremely regulated. Today we’re excited to have launched our first product, our Health Device API, which allows digital health companies to gain access to their own users’ consumer health information from various wearables, RPM devices and mHealth apps, ” states Elsinga. “The next steps for us within the near term will be launching our own second main product, the Medical API, which will allow businesses to gain both entry to their particular patients’ healthcare records plus interface along with EHRs. Both of these products are open resource, which is a huge differentiator in the market. ”
The particular company tells me it raised a $2. 4 mil seed circular at the $20 million valuation, all on post-money SAFEs, and are working to launch its Medical API in 2023.
“Being the first open supply solution of its kind, we are really capable to see what sort of community contributions will come out of this, and how it will enable new companies to make innovations in the space that weren’t formerly possible. We will set a new standard for dev-friendliness, transparency and accessibility in the health tech data area, ” co-founder and CEO at Metriport, Dima Goncharov explains.
The company thinks of itself as the particular medtech equivalent of what Plaid did for fintech; opening up a door with regard to emerging electronic health companies to get entry to the data they need to grow and scale quickly.
“Based on the volume of customers lining up eager to use our item, we ask ourselves the particular same thing, ” says Goncharov, when asked why nobody is definitely doing this particular already. “The way all of us see it is that within every industry, when the existing players stagnate from being comfortable off of profits from the status quo, the market is open regarding disruption simply by younger, hungrier and more modern companies. That time is now in the particular healthcare data space, we all know this needs in order to be built, and we’ll be the company to spearhead those efforts — setting business standards along the way. ”
UPDATE: This article included a couple of quotes that were mis-attributed. The particular names above are now correct.