Austin, Texas-based MDisrupt announced Monday that it has raised $5.7 million in seed funding to build out its digital health intelligence platform that would help accelerate the adoption of digital health tools. Investors in the seed round included AKESOgen co-founders Mark Bouzyk and Robert Boisjoli, Bren Investments, Chantell Preston, Grail co-founder Jessica Owens, Matthew Holt, and Syrona Ventures, among others. The company declined to disclose the full investor list.
Most digital health products often fail to be adopted in healthcare systems because payers and employers do not have a method to evaluate the system’s effectiveness, according to Ruby Gadelrab, CEO and founder of MDisrupt.
MDisrupt addresses the lack of widespread adoption of digital health products via its data-driven platform, which allows digital health companies to generate datasets through clinical crowdsourcing, giving a way to evaluate the system in place. The idea is that the healthcare company can show payers why they should cover their technology, health systems why they should implement the technology, thereby prompting providers to adopt the system, Gadelrab said.
“MDisrupt is transforming into a digital health intelligence company that organizes the world’s digital health products by performance, so everyone (patients, consumers, providers, health systems, payers, and employers) can make data-driven healthcare decisions,” Gadelrab said in an email.
In the last two years, over $50 billion has been invested in digital health, according to Gadelrab. As a result, she says enablement platforms, benchmarks, and standards are needed. Therefore, MDisrupt positioned itself as a marketplace for companies in the digital health industry. If the company is successful, it can help startups scale up. Gadelrab believes that overseas companies looking to commercialize in the United States can also benefit from the platform MDisrupt is trying to build.
“We are expanding our platform to enable digital health innovators to rapidly generate the real-world performance data needed to successfully commercialize and scale their products,” said Gadelrab. “The objective dataset built on real-world clinical performance from every digital health product from the MDisrupt platform will inform the company’s digital health intelligence engine.”
MDiscrupt will utilize the $5.7 million in seed funding to not only further develop its digital health intelligence platform, but to also build out its product and engineering teams in Austin, according to Gadelrab. Further, the seed funding will help grow its commercial teams in addition to its community of heath industry experts and clinicians who will be early adopters of the technology.
“We have been deliberate about building our cap table to be diverse by design,” Gadelrab said. “We have a great balance of women, minorities, clinicians, health system executives, and health industry experts.”
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