Canid, a healthcare technology company dedicated to streamlining pediatric vaccine management, announced it has raised $10 million in Series A funding led by Telescope Partners with participation from FJ Labs, Brooklyn Bridge Ventures, SeedtoB and others. The funding, which brings Canid’s total funding to $12.9 million, will support the company’s expansion as it serves an increasing number of independent pediatricians across the United States.
Problem being addressed: Vaccinations represent the second-largest expense for most pediatric practices after staff salaries, but a large percentage of pediatricians either break even or lose money on their vaccine programs due to issues with insurance reimbursement, inventory management and administrative overhead. And Canid works to solve these problems through its integrated platform, which replaces manual workflows with an automated system that takes just seconds to use.
Pediatric vaccine management is recognized as one of the most significant challenges for independent practices. And the amount of time pediatricians must devote to administrative tasks negatively impacts a practice’s bottom line and contributes to physician burnout.
By simply scanning a vaccine barcode, pediatricians delegate all the related administrative work, financial risk, and public health compliance requirements to Canid. The company’s platform integrates directly with electronic health records (EHRs) and executes them automatically using a combination of AI, software, and economies of scale. The platform then manages the entire lifecycle of vaccines, giving pediatricians:
— Automated logistics: automatic ordering, reporting,g and billing
— Guaranteed payments: no inventory risk, transparent reporting, and fast payment
—Data-driven patient outreach: smart vaccination tracking for identifying under-vaccinated children to improve completion rates
Launched in 2021, Canid now partners with more than 150 pediatricians in 12 states, with over 300,000 children in patient panels. And the company has facilitated vaccinations for 121,000 patients and counting.
KEY QUOTES:
“Pediatricians spend years training to provide exceptional care for children, not to become experts in revenue cycle management or inventory systems. By handling all the business-side tasks and operations, our platform frees them up to focus on treating patients. We believe Canid will be the technology backbone that allows independent pediatric practices to thrive.”
Canid CEO and founder Pedro Sánchez de Lozada
“When you run an independent practice, all the little costs add up. Vaccine management is full of those little costs. Canid is a true partner for us, embedding themselves in our practice so they can fully handle everything related to our vaccine program on our behalf. This saves the practice money but, most importantly, gives me back time to spend doing what matters most: caring for patients.”
Dr. Julie Capiola, partner at Premier Pediatrics, which joined Canid’s platform in January 2023
“Canid is addressing a major pain point for a critically important population: the doctors who take care of our children. Canid’s platform transforms their vaccination programs from financial burden to efficient operation. We’re excited to support the company as it brings pediatric vaccine management into the modern era.”
Nicole Naidoo, Partner at Telescope Partners
