Jump Technologies, a supply chain solutions provider, has secured $2 million in follow-on Series B funding, which it will use to expand its sales efforts and support product development.
Black Granite Capital led the round. Mount Sinai Ventures also participated, as did two unnamed previous investors in the company.
The $2.2 million investment follows the $3.5 million Series B round the organization closed in 2017. That money, which came from Black Granite Capital and its partners, was used to enhance Jump Technologies’ solutions and grow its customer success, sales, development and quality assurance teams.
The Eagan, Minnesota-based company offers a cloud-based hospital supply chain software tool called JumpStock, which integrates into existing workflows. It allows supply chain professionals and nurses to track inventory in real time. JumpStock seeks to help organizations improve inventory management visibility, reduce waste and better engage clinical areas like operating and procedure rooms. The ultimate goal is to let hospitals standardize their use of supplies, thereby allowing them to save money.
The company, which was founded in 1998, has more than 100 clients, including Mount Sinai Health System.
In a statement, Jump Technologies CEO John Freund said:
A Deep-dive Into Specialty Pharma
A specialty drug is a class of prescription medications used to treat complex, chronic or rare medical conditions. Although this classification was originally intended to define the treatment of rare, also termed “orphan” diseases, affecting fewer than 200,000 people in the US, more recently, specialty drugs have emerged as the cornerstone of treatment for chronic and complex diseases such as cancer, autoimmune conditions, diabetes, hepatitis C, and HIV/AIDS.
Additional investment capital helps us expand our footprint more quickly to hospitals and health systems across the country. Hospitals invest in cutting-edge technology to treat patients, but when it comes to inventory management, some facilities still rely on individuals counting materials in store rooms every day. We’re improving this dramatically with our powerful automation and data analytics and simple user interface.
Photo: CaptureTheWorld, Getty Images
