Total amount raised
$95 Millions
Latest funding date
02/01/2021
Location
Redox has successfully raised funds through multiple rounds, with the latest being a Series D that closed on February 24, 2021. The company is backed by 13 investors, including notable names like RRE Ventures and Avenir.
Keep reading to explore the intricacies of Redox's fundraising journey and the investors backing this innovative healthcare data interoperability platform.
What Is Redox?
Redox, founded on July 4, 2014, in Madison, Wisconsin, is a healthcare data interoperability and EHR integration platform. The company was established by James Lloyd, Luke Bonney, and Niko Skievaski.
Redox accelerates the development and distribution of healthcare software solutions by enabling real-time data exchange. They connect healthcare delivery organizations and technology vendors to securely and efficiently exchange data.
With a team of 101-250 employees, Redox continues to innovate in the healthcare sector, providing solutions that improve data integration and healthcare outcomes.
How Much Funding Has Redox Raised?
- Seed Round
- Amount Raised: $470K
- 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: $3.5M
- Date: October 2015
- Lead Investors: .406 Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand their team and accelerate product development.
- 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 gain strategic support and resources without diluting equity.
- Series B
- Amount Raised: $9M
- Date: January 2017
- Lead Investors: RRE Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and enhance their platform's capabilities.
- Series B
- Amount Raised: $1M
- Date: April 2017
- Lead Investors: RRE Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further support their growth and market expansion.
- Debt Financing
- Amount Raised: $3M
- Date: August 2018
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To manage cash flow and fund ongoing projects without equity dilution.
- Series C
- Amount Raised: $33M
- Date: April 2019
- Lead Investors: Battery Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand their market reach and invest in new technology.
- Series D
- Amount Raised: $45M
- 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.
Total Amount Raised: $95M. Current Valuation: Not publicly disclosed.
Key Investors
- Adams Street Partners
- Details: Adams Street Partners is a global private markets investment manager with over 45 years of experience. They manage investments across primary, secondary, and co-investment strategies.
- Investment Focus Areas: Private Equity, Venture Capital, Growth Equity
- Notable Investments: Redox, GoFundMe, BigCommerce
- Battery Ventures
- Details: Battery Ventures is a global, technology-focused investment firm that invests in companies at all stages of their growth. They have been investing for over 35 years and manage over $9 billion in capital.
- Investment Focus Areas: Software, IT Infrastructure, Consumer Technology
- Notable Investments: Redox, Glassdoor, Wayfair
- RRE Ventures
- Details: RRE Ventures is a venture capital firm that invests in early-stage companies. They focus on companies that are transforming industries through technology and innovation.
- Investment Focus Areas: Fintech, Healthcare, Enterprise Software
- Notable Investments: Redox, BuzzFeed, Venmo
- .406 Ventures
- Details: .406 Ventures is a venture capital firm that invests in early-stage, high-potential companies. They focus on sectors where they have deep domain expertise and can add significant value.
- Investment Focus Areas: Healthcare IT, Cybersecurity, Data and Analytics
- Notable Investments: Redox, Abacus Insights, Iora Health
- Avenir
- Details: Avenir is a private investment firm that focuses on long-term investments in high-growth companies. The firm aims to partner with exceptional management teams to build enduring businesses.
- Investment Focus Areas: High-growth companies, Long-term investments, Technology and innovation
- Notable Investments: Redox, Not publicly disclosed, Not publicly disclosed
What's Next for Redox?
Redox stands at the cusp of significant growth opportunities, driven by the increasing digitization of healthcare. With over 1,400 healthcare delivery organizations and 350 digital health companies already using its platform, the company is well-positioned to expand its reach. The recent $45 million Series D funding will enable Redox to accelerate product innovation, hire new talent, and meet the growing demand for its health data integration platform.
Future fundraising opportunities seem promising as the demand for digital health solutions continues to rise. Redox's partnerships with major technology companies like AWS and Salesforce further bolster its market position. However, the company may face challenges in adapting to rapid changes in the healthcare industry, especially due to the COVID-19 pandemic, and maintaining efficiency while targeting high-growth verticals.
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