Medivo, cloud-based health monitoring platform, raised a $15m Series B financing round led by the Merck Global Health Innovation Fund (GHIF), with participation from existing investors Safeguard Scientifics, and MentorTech Ventures.
To date, Medivo has raised more than $22m including a $7m Series A financing in late 2011.
Sundeep Bhan, CEO and a co-founder of Medivo, said, “For the past three years, Medivo has doubled its growth year-over-year and is well-positioned for continued growth. The new round of funding will be used to continue expanding our clinical data platform, enriching our analytics services and building out connectivity to additional data sources. We also will broaden and enhance our product offerings for physicians and consumers, and develop new patient engagement services.”
“Health information technology is one of the prime investment areas for Merck’s Global Health Innovation Fund, and Medivo’s technology and analytics platform are at the forefront of innovation in this space,” said Joe Volpe, investment principal for GHIF. “We also are impressed with the team at Medivo and believe they have the experience and the track record to scale a leading health tech company.”
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