Sift Medical Data, a Milwaukee-based health care technology startup, announced that it has closed a seed funding round of $665,000.
The funding was led by The Winnebago Seed Fund with additional investment coming from Jeff DeAngelis, president of Northwest Passage Capital. Sift Medical Data is the first startup to be funded by the Winnebago Seed Fund, whose goal is to invest in Wisconsin entrepreneurs and grow startups throughout the state.
The financing will be used to expand Sift Medical Data’s data science team and will allow for further investment in its proprietary health care analytics platform. DeAngelis, along with two directors appointed by the Winnebago Seed Fund, will join Sift’s Board of Directors.
“Between their commitment to Wisconsin-based entrepreneurs and their enthusiasm for technology-driven startups, The Winnebago Seed Fund is an ideal partner for Sift MD as we deepen our data analytics toolset and scale our company,” said Justin Nicols, founder and CEO of Sift MD. “We’re excited to have partners that align with our vision and can help us grow a powerful healthcare technology company.”
“Sift MD is a uniquely positioned technology company with tremendous growth opportunity,” said David Trotter, managing director at The Winnebago Seed Fund. “The platform that Justin and the team are developing is impressive and we’re excited to be working together to scale the business.”
Sift MD provides an artificial-intelligence driven and vertically integrated platform for revenue cycle management. Its platform is designed to help revenue cycle management companies reduce insurance claim denials and increase patient collection rates.