Healthcare data exchange startup Moxe Health raised $30 million in a Series B funding round led by Piper Sandler Merchant Banking and Vensana Capital with participation from existing investors.
The company most recently announced an undisclosed investment led by 3M Ventures in early 2021.
WHAT IT DOES
The company makes tools for sharing patient health record information. For providers, it offers its digital release of product information that automates requests for medical charts. Payers can also access the chart retrieval tool, and both can use Moxe’s convergence product that allows payers to input their insights into the EHR for providers to use.
The startup plans to use the investment to expand its team and advance its data exchange technology.
“We have a straightforward healthcare objective: Make it as easy as possible for the patient records that have been diligently digitized to inform how we deliver and pay for in this country. Moxe eliminates administrative waste by evolving patient-centric interoperability and improving payer-provider collaboration,” founder and CEO Dan Wilson said in a statement.
Interoperability is a perennial problem in healthcare, but the transition to value-based care alongside legislative and technological advances may be creating an inflection point for data sharing.
Another startup focused on interoperability is Health Gorilla, which announced it had raised $50 million in Series C funding in March. Avaneer Health, which offers a network using blockchain and FHIR technologies to allow for secure data exchange between healthcare organizations, also raised $50 million in seed funding early this year.
Meanwhile, healthcare and life science-focused data-sharing ecosystem Datavant scooped up $40 million in Series B funding in 2020.