Redox raises $33 million Series C for healthcare data interoperability
Redox, which enables healthcare data exchange, has closed a $33 million Series C funding round, led by Battery Ventures.
Amongst a large number of companies tackling the challenge of healthcare data exchange, Redox has closed a $33 million Series C funding round, led by Battery Ventures with participation from existing investors .406 Ventures, RRE Ventures, and Intermountain Ventures.
Interoperability has become a major challenge for healthcare providers: different software vendors have inconsistent data formats, which impede the flow of data, including potentially critical information for patient care. In the UK, the NHS Long Term Plan published in January 2019, highlighted the need to create the right environment and infrastructure for innovation to thrive, requiring every technology supplier to the NHS to comply with published open standards to enable interoperability and continual improvement.
Redox provides an API for software vendors to exchange data securely in any format associated with an organization’s electronic health record. The company claims 450 healthcare providers and hundreds of cloud-based applications use the Redox Interoperability Platform, such as Microsoft, HCA, and Fitbit.
Chelsea Stoner, general partner at Battery Ventures joins the board. She said: “Redox is a driving force in solving healthcare’s interoperability challenge. We were blown away by the network effects Redox has already generated and how foundational its platform has become to achieving the promise of digital health.”