Redox, a Madison, Wisconsin-based healthcare technology company that is transforming the way healthcare providers and software vendors share data, announced it has raised $33 million in Series C funding led by Battery Ventures. Also participating in this round is .406 Ventures, RRE Ventures, and Intermountain Ventures. In conjunction with this funding round, Battery general partner Chelsea Stoner is joining Redox’s board.
Over the last year, Redox has seen tremendous growth as it is offering faster and more secure data sharing between healthcare vendors and providers. Specifically, the Redox platform is addressing one of the biggest barriers to innovation in healthcare — which is the inability to easily use and exchange data among healthcare organizations and software solutions being used. This is due to inconsistent data formats and slow redundant connections.
The way Redox changes this is by dramatically simplifying communication and making data actionable and more shareable. Using Redox, software developers are able to enable easy access through a standardized application programming interface (API). And Redox’s vendor-agnostic approach allows messages to be sent or received securely in any format associated with an organization’s electronic health record (EHR).
“Redox’s success is built on the success of our customers, the most innovative software solutions and healthcare organizations in the market today,” said Redox co-founder and CEO Luke Bonney. “We have a saying at Redox: ‘We are all patients.’ This informs our perspective about what we do as we build the infrastructure our customers rely on every day. We’re grateful to be in a position to help solve one of healthcare’s thorniest challenges.”
There are more than 450 healthcare providers and hundreds of cloud-based applications that use Redox’s Interoperability Platform for exchanging information with partners. Some of these organizations include AdventHealth, Atrium Health, Brigham & Women’s, Clarify Health, Cleveland Clinic, Geisinger, HCA, Healthgrades, Intermountain Healthcare, Invitae, Fitbit, Memorial Sloan Kettering, Microsoft, Ochsner, OSF HealthCare, PointClickCare, R1, ResMed, Stryker, UCSF, University of Pennsylvania, and WellStar.
“Redox is a driving force in solving healthcare’s interoperability challenge,” added Stoner. “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. Given its top-notch leadership team and the important problem it is solving, there was no question that Redox was a company we wanted to partner with.”
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