Mequon-based Medicardia Health Inc. announced it raised $3 million in its first major financing round.
The virtual health platform was founded last year by chief executive officer Dr. Indrajit Choudhuri, an electrophysiologist with the Froedtert South Medical Group who initially bootstrapped the company, along with his associates.
Veteran angel investor Jeff Rusinow recently provided seed capital for the company and is now its chairman. Rusinow founded Milwaukee’s first angel network, Silicon Pastures, in 2000. Other investors in the funding round included prominent angel investors in Wisconsin, including Milwaukee Venture Partners, and throughout the U.S., as well as Japan, the company said. Northwestern Mutual Cream City Venture Capital also provided funding.
The MediCardia digital health platform is designed to aggregate, organize and operationalize comprehensive clinical data for clinicians. It is in Verona-based Epic Systems’ App Orchard platform.
The new funds will allow the company to ramp up the IT development of its core digital health platform, which includes embedded telehealth, remote patient monitoring, natural language processing for data discretization and automated chart preparation.
The MediCardia platform will launch new features in the coming months including integration for implantable devices, imaging, a research platform and a proprietary “clinical intelligence engine,” the company said.
"In the past two years, we have launched our MediCardia digital health platform with applications available to a wide array of clinicians with a focus on dramatically improving the user interface, improving outcomes, reducing expenses and increasing revenue while improving clinical efficacy. MediCardia is now positioned for rapid growth," Rusinow said.
Medicardia Health said it will soon begin approaching VCs and strategic partners in preparing for a Series A funding round in 2022.