July 15, 2020
Noteworth, a first-of-its-kind Digital Healthcare platform for modernizing Digital Medicine delivery operations, announced a $5 million oversubscribed seed funding round led by Laconia Capital Group with participation from Draper Associates, Frontier Ventures, Techstars Ventures, Wavemaker360, Springtide Capital and others.
Noteworth states the funding will be used to expand operations of their digital medical technology and make strategic hires necessary to meet the growing demand from healthcare providers and patients.
With this new investment, the company will continue to build upon the delivery of Noteworth’s first-of-its-kind Digital Healthcare platform. The platform provides a number of beneficial capabilities including expanded access to care in order to eliminate the barriers to care by putting health services into the patient’s hands. One of the main goals for the company is working to extend patient engagement by providing clinicians with the tools to communicate directly with patients through video, chat, and push notifications. The Noteworth platform works to help reduce costs by decreasing readmissions and the use of high-cost services with timely interventions. In addition, Noteworth will help clinicians obtain new reimbursements to generate additional income for new streams of revenue.
“The positive response and support of our strategic investors reflect a shared belief that digital medicine is the future of healthcare delivery,” said Justin Williams, Co-founder, and CEO of Noteworth. “With this new round of funding, Noteworth will continue to establish our ability to quickly and efficiently help healthcare providers launch our digital medicine technology platform offering to better serve their patient populations remotely.”
“Noteworth is a rising star in the field of digital medicine,” said David Arcara, Managing Partner of Laconia Capital Group. “Their ability to provide unprecedented healthcare data collection, assessment and proactive intervention across all current digital healthcare information silos, consistent with our investment thesis focused on digital workflow transformation, is what prompted our investment in this critical technology that is modernizing healthcare delivery. Laconia invests in companies that pioneer the digital transformation from legacy software and manual workflow processes into 21st century cloud-based platforms.”
“At Draper Associates, we are looking for companies that can become fundamental to an industry,” said Tim Draper, Founder and Managing Partner of Draper Associates. “Noteworth is an easy to use system that monitors the patient’s progress, improves profitability for the caregiver and derives insightful data for health care generally. We expect every doctor and every patient to be a part of this easy-to-use communications tool.”