Total amount raised
$95 Million
Latest funding date
02/01/2021
Location
Redox has successfully raised funding through nine rounds, with the latest being a convertible note. The company has attracted a total of 13 investors, including notable names like Dreamit Ventures and RRE Ventures.
Keep reading to explore the intricacies of Redox's fundraising journey and the investors backing this innovative healthcare data integration platform.
What Is Redox?
Redox is a private company based in Madison, Wisconsin, specializing in healthcare data integration and interoperability. The company facilitates seamless data exchange across various healthcare systems, including EHRs, providers, payers, and life sciences.
With an employee count ranging from 101 to 250, Redox has established itself as a significant player in the healthcare and information technology sectors. The company emphasizes security, reliability, and scalability, holding certifications like HITRUST and SOC 2.
Redox aims to fuel the future of connected healthcare by enabling the easy movement of clinical and administrative data into preferred cloud environments for analytics, AI workflows, and smarter operations.
How Much Funding Has Redox Raised?
- Seed Round
- Amount Raised: USD 470,000
- Date: November 2014
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To kickstart the development of their healthcare data integration platform.
- Series A
- Amount Raised: USD 3,530,000
- Date: October 2015
- Lead Investors: .406 Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand their team and enhance their platform's capabilities.
- Non-Equity Assistance
- Amount Raised: Not publicly disclosed
- Date: December 2016
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To receive strategic support and resources without diluting equity.
- Series B
- Amount Raised: USD 9,000,000
- Date: January 2017
- Lead Investors: RRE Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and increase market penetration.
- Series B
- Amount Raised: USD 1,000,000
- Date: April 2017
- Lead Investors: RRE Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further accelerate growth and product development.
- Debt Financing
- Amount Raised: USD 3,000,000
- Date: August 2018
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support ongoing operations and manage cash flow.
- Series C
- Amount Raised: USD 33,000,000
- Date: April 2019
- Lead Investors: Battery Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand their market reach and enhance technological infrastructure.
- Series D
- Amount Raised: USD 45,000,000
- Date: February 2021
- Lead Investors: Adams Street Partners
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To accelerate product innovation and meet growing demand.
- Convertible Note
- Amount Raised: USD 12,281,727
- Date: May 2025
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To provide flexible financing for strategic initiatives.
Total Amount Raised: USD 107,281,727. Current Valuation: Not publicly disclosed.
Key Investors
- Dreamit Ventures
- Details: Dreamit Ventures is an early-stage venture fund that accelerates startups in health tech and other technology sectors. They provide strategic support and resources to help startups scale rapidly.
- Investment Focus Areas: Health tech, cybersecurity, urban tech
- Notable Investments: Adaptly, LevelUp, SeatGeek
- RRE Ventures
- Details: RRE Ventures is a venture capital firm that invests in early-stage and growth-stage companies across various sectors. They have a strong focus on technology and healthcare.
- Investment Focus Areas: Technology, healthcare, financial services
- Notable Investments: BuzzFeed, Venmo, SpaceX
- Adams Street Partners
- Details: Adams Street Partners is a global private equity firm managing $44 billion in assets. They specialize in primary and secondary private fund investments, co-investments, private credit investments, and direct growth equity investments.
- Investment Focus Areas: Private equity, private credit, co-investments, direct growth equity investments
- Notable Investments: Not publicly disclosed
- Battery Ventures
- Details: Battery Ventures is a global, technology-focused investment firm. They invest in companies at all stages, from seed to growth and buyout.
- Investment Focus Areas: Software, industrial technology, consumer technology
- Notable Investments: Glassdoor, Nutanix, Sprinklr
- .406 Ventures
- Details: .406 Ventures is an early-stage venture capital firm that invests in innovative technology and healthcare companies. They focus on building long-term partnerships with their portfolio companies.
- Investment Focus Areas: Healthcare, cybersecurity, data and cloud
- Notable Investments: Abacus Insights, Iora Health, Redox
What's Next for Redox?
Redox stands at the cusp of significant growth opportunities, driven by the increasing demand for healthcare data integration. With over 1,400 healthcare delivery organizations and 350 digital health companies already on its platform, the company is poised to expand its reach even further. The recent $45 million Series D funding will enable Redox to accelerate product innovation and hire new talent, ensuring they meet the growing needs of the healthcare industry.
Future fundraising opportunities seem promising as the company continues to scale and innovate. The ongoing digitization of healthcare and the need for seamless data exchange present a fertile ground for additional investments. Redox's strategic partnerships with major technology companies like AWS and Salesforce further bolster its market position, making it an attractive candidate for future funding rounds.
However, challenges lie ahead. Navigating the rapid changes brought on by the COVID-19 pandemic, maintaining efficiency while scaling operations, and staying ahead of competitors are significant hurdles. Additionally, adapting to legislative changes and ensuring compliance will require continuous effort. Despite these challenges, Redox's focus on innovation and strategic growth positions it well for a bright future.
Use Clay to Get Funding Data
Sales professionals, take your strategy to the next level by leveraging Clay’s platform to access comprehensive fundraising data on companies like Redox and gather other critical business insights.
Sign up for free to start unlocking valuable information that can drive your sales success.
