Medmo – a medical imaging technology company – recently announced it raised $9 million in funding as part of a funding round led by Lerer Hippeau and existing investors Jerusalem Venture Partners (JVP), C2 Ventures, and Stone IsraVentures. An array of notable angel investors participated, including Elliot Cohen, founder of PillPack (acquired by Amazon) and Klara (acquired by ModMed), and co-founders Simon Bolz and Dr. Simon Lorenz. The additional funding will further accelerate the company’s rapid expansion and platform development.
Medical imaging is fundamental to healthcare, from preventative care to diagnosis to treatment. But the way the market operates is archaic, expensive, and difficult to navigate for both patients and providers. As a result, up to 40% of imaging orders are delayed or never completed, leading to worsened patient outcomes, lower provider quality scores, and missed imaging center appointments. Medmo enables all parties to regain control of the care journey by facilitating the seamless scheduling of imaging exams, including MRIs, CTs, Mammograms, Ultrasounds, and X-rays.
Medmo runs seamlessly within existing healthcare systems’ workflows, thus demonstrating real-world effectiveness across various healthcare settings. And it consistently drives better patient outcomes, closes gaps in care, and reduces overall healthcare costs. The company has also expanded nationwide to support various clients, from traditional primary care groups to large multi-specialty health systems to virtual health groups.
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“Medical imaging is especially challenging to coordinate and contains additional layers of complexity for both patients and providers. Providers often lose visibility once a patient leaves the office, while their staff spend time tracking down critical information by phone and fax. Our platform facilitates the process from start to finish, allowing providers to track patient journeys and close the loop on care. This leads to better patient outcomes and less administrative burden on staff.”
— Lucas Takahashi, co-founder and CEO of Medmo
“Investor capital in healthcare has often focused on high-tech solutions to improve diagnostic assessments, but that approach ignores a crucial first step: connecting patients with accessible care. Medmo removes the cost and logistical barriers to diagnostics, improving imaging order completion rates and subsequent quality of care.”
— Isabelle Phelps, Partner at Lerer Hippeau
“We’ve continued our commitment to Medmo as we believe the company is strongly positioned to take advantage of its growth in the imaging market. Medmo has not only demonstrated the ability to drive efficiency in the market, but they have clearly improved patient healthcare at scale. We are sure the unique platform will continue expanding into new and exciting radiology solutions for both patients and healthcare providers.”
— Gadi Porat, General Partner of JVP
