Validic Raises $1.25 Million For mHealth Integration Engine

2014-03-12_21-52-08

Durham, NC-based mHealth startup Validic announces a $1.25 million investment round led by SJF Ventures and with additional participation from several unnamed angel investors. The new capital brings Validic’s total raised to $2.1 million, with all but $100,000 of that funding coming within the last three quarters.

Launched in 2010, Validic markets a one-to-many integration engine that collects health data from a wide variety of activity trackers and fitness apps. Fitbit, Jawbone, Nike, BodyMedia and many others are all integration partners on Validic’s network. Apps, such as Moves and FatSecret’s calorie counter are also represented. In total, Validic connects with 85 mHealth data sources.

Validic markets its mHealth integration engine to several different kinds of healthcare companies, including: payers, provider organizations, pharmaceutical companies, and other health IT developers. By using a mHealth integration engine, organizations are able to access to new datasets without having to build interfaces or establish data exchange agreements with third-party companies. Once implemented, Validic customers are provided a web portal that patients use to authorize data sharing and sync their mHealth apps and devices. Once patients sync their devices on the portal, their mobile health data is captured, normalized, and then incorporated into the customer’s database.

In November 2013, Dallas Mavericks owner Mark Cuban invested $760,000 in Validic. At the time, Validic had just signed a growing population health management vendor based in Dallas. Since then, Validic has grown its end user base from 3 million to 30 million. Cuban describes the company in a November press release announcing the funding, “Personalized health is the future of healthcare, and with the explosive growth of new mobile apps and devices coming on the market, Validic solves a fundamental problem of integrating all those new innovations into the healthcare system.”

In addition to its new funding, the company has announced new additions to its corporate leadership structure. John Turnburke (MedFusion and Intuit Health) has been hired as the SVP of business development. Chris Edwards (Allscripts) joins as SVP of marketing, and Ben Clark (Allscripts and Intuit Health) joins as VP of operations.

Validic has not specified what its plans are for the new funds, other than to support growth and expansion of the company.


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