Bridge Connector Partners with Formativ Health to Provide Turnkey Integration Solution and Optimize Patient-Provider Experience
Palm Beach Gardens, FL (August 28, 2018) — Bridge Connector, which delivers streamlined integration solutions for healthcare organizations, finished their $5.5 million Series A round, led by Tampa-based emerging-technologies firm Axioma Ventures LLC, bringing the company’s total investment to $10 million in funding. The funding will help further expand Bridge Connector’s sales, marketing, and client-services efforts, as well as accelerate the platform’s growth in closing the industry-wide interoperability gap.
“Since our initial seed investment in early June, we’ve been thrilled with the explosive expansion of Bridge Connector, a smart startup that we know will continue to make waves in the healthcare space, especially regarding interoperability," said Howard Jenkins, Bridge Connector’s Chief Strategy Officer, former CEO of Publix Super Markets, and co-founding partner of Axioma Ventures, which also led Bridge Connector’s $4.5 million seed round. "The enthusiasm for innovative healthcare standardization continues to snowball — especially from tech giants like Alphabet, Amazon, IBM, Microsoft, and Salesforce — and with Bridge Connector’s mission to change the way healthcare communicates, we’re especially excited to see how they’ll seize this next round of funding.”
Since the early days of electronic medical records, the lack of interoperability has been a major challenge in healthcare. Integration of disparate systems between medical devices and electronic health records can be both time-intensive and costly, and can lead to dangerous medical errors if done incorrectly. Although some healthcare organizations have succeeded in integrating their systems to streamline data, it has been a slow, expensive process that is also difficult to maintain.
“Between $10 million in total funding and Axioma's expert counsel, we can aggressively pursue our mission to conquer the interoperability challenge with better technology, strategic partnerships, and smart hires,” said David Wenger, CEO and founder of Bridge Connector. “Connecting disparate systems is a tedious, time-consuming, and expensive process, and we have significantly reduced development times and project costs.”
As part of their Series A investment, Bridge Connector is expanding their teams across all three offices — Palm Beach Gardens in Florida and Knoxville and Nashville in Tennessee from 45 employees to more than 100 developers, sales representatives, and support staff by year-end. Additionally, the startup has established strategic partnerships with some of the most prestigious names in the healthcare industry, in both customer-relationship management and electronic medical records.
Bridge Connector aims to grow their Nashville team from 20 to 80 employees, who will be moving downtown to a more than 17,000 square-foot facility at 424 Church Street, formerly inhabited by Intermedix Corp., which left earlier this year after getting acquired by R1 RCM for approximately $460 million.
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