Redox has closed a $9 million Series B round of financing to accelerate product development. The fundraise comes as the company’s efforts to enable API as a vehicle for data sharing more manageable for healthcare facilities continues to gain ground, according to a company press release.
Seed and early stage investor RRE Ventures led the round but existing investors took part as well, including .406 Ventures, HealthX Ventures, and Flybridge Capital Partners.
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In emailed responses to questions, Redox President and Cofounder Niko Skievaski articulated some of the product developments underway.
He noted that Redox is adding components to its platform to support new health system enterprise users in a reflection of how its user base has expanded beyond the developers who originally accounted for many of its users.
“We’re increasingly getting demand from health systems to provide various workflows and tools into our dashboard,” Skievaski said.
Skievaski also pointed out that the company is investing in improving the developer experience for developers integrating applications with Redox tools to help them go faster such as sample applications, software developments kits, more electronic health records (the company currently has integrations with three dozen healthcare vendors such as drchrono, athenahealth, and Allscripts), and larger sample data sets.
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Luke Bonney, CEO and cofounder of Redox said in a company statement: “We’ve broken the industry’s habit of building point-to-point connections that only exacerbate the problem. Rather, our interoperable network becomes more efficient with each node. The industry doesn’t have to wait for the government to mandate interoperability, or for new standards to mature. Redox has enabled innovations from startups rethinking how care should be delivered to large companies deployed at scale across the care continuum.”
Redox, founded by former Epic Systems engineers, previously raised $3.5 million in 2015 as part of a Series A round to bolster its workforce across sales, customer service, and development teams. The Madison-based company also used the funding to grow its network of integrated health systems and applications.
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