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Healthcare cloud data solutions startup Redox raises $45M
Healthcare cloud data solutions startup Redox Inc. announced today it has raised $45 million in new funding to accelerate product innovation and hire more people.
The Series D round was led by Adams Street Partners and included Avenir, Battery Ventures, .406 Ventures and RRE Ventures.
Founded in 2014, Redox offers a full-service health data integration platform to enable healthcare providers to exchange data more securely and efficiently. Using the company’s platform, healthcare delivery organizations and technology vendors can connect once and authorize the data they send and received across what Redox describes as “the most extensive interoperable network in healthcare.”
Ease of use is at the forefront of Redox’s platform, which it says removes distractions so providers can focus on their patients. Along with selling its service fully managed on the cloud, the company also offers an application programming interface with a standardized, normalized data specification.
The company’s platform integrates with Amazon Web Services Inc. and Salesforce.com Inc. through the AWS Marketplace and the Salesforce AppExchange.
With the COVID-19 pandemic ongoing, Redox says it has seen rapid growth. Integrations have grown by 300% over the last year with more than 1,000 live connections on the Redox network in October. More than 1,400 healthcare delivery organizations, including 95% of the top hospitals in the U.S. and 350 digital health companies, are said to be using Redox’s platform to exchange 12 million patient records per day across more than 50 electronic health record systems.
“2020 will be seen as an inflection point in digital health, as necessity brought five years of innovation forward into a single year,” Luke Bonney, co-founder and chief executive officer of Redox, said in a statement. “Our mission is simple: to make the world’s healthcare data useful. We want patients to feel empowered in their healthcare experience. We do that by making it easy for the best digital health applications to scale integration seamlessly across our national network of connected providers.”
Including the new funding, Redox has raised $95 million to date.
Image: Redox
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