Health IT

Health IT firm Axial Exchange completes $1.5 million series A round

Continuity of care across healthcare settings is the goal of Axial Exchange, a Raleigh, North Carolina startup software company that has raised $1.5 million in a series A round of financing. The company’s software can be used to send lab results to doctors in real time, or to streamline the enrollment process for clinical trials.

Health IT startup company Axial Exchange has completed a $1.5 million first round of financing that the company will use to develop its communications technology platform and expand sales and marketing plans.

The series A round was led by Canaan Partners; IDEA Fund Partners also participated in the financing.

Raleigh, North Carolina-based Axial makes software that allows a hospital or other healthcare facility to send real-time electronic alerts. Information can be accessed through the Internet via computer or smart phone. For example, physicians can see a patient’s lab results as soon as they’re finished. The software also has applications in drug development. Clinical research organizations can use the software to shorten the clinical trial enrollment process with better targeting of potential trial participants.

Axial was founded by CEO Joanne Rohde, former COO and director of health IT strategy at Raleigh software company Red Hat (NYSE:RHT). Like Red Hat’s software, Axial’s offering is also open source.