Shareable Ink wraps $10.7M funding round

Existing investors return to provide growth boost

Health care information technology venture Shareable Ink has put a bow on its Series C round, raising $10.7 million from existing investors.

The leaders of Nashville-based Shareable Ink will use the money — which includes $3 million in convertible debt raised earlier this year — to continue to build out the company's operations and staff. Minneapolis-based Lemhi Ventures led the funding round and was joined by a Nashville consortium that includes the Nashville Capital Network and the Martin Companies and was in on the company's 2010 financing.

“Shareable Ink has grown considerably, bringing practical transformation to the intersection of clinical and administrative data with an approach that is easy to use, and keeps clinicians productive,” said Tony Miller, managing partner of Lemhi and chairman of Shareable Ink's board. “We are pleased to have Glen Tullman join the board and look forward to leveraging his experience as we remain committed to Shareable Ink’s mission to deliver the benefits of data-driven healthcare.”

The company now works with more than 2,000 clinicians — many of them anesthesiologists — which CEO Laurie McGraw (pictured) said is up by "hundreds" from when she joined in the spring. Also in the works are plans to expand into other parts of the health care arena as well as efforts to boost the analytics tools in its software.

As part of the funding round, former Allscripts CEO Glen Tullman has joined Shareable Ink's board of directors. Tullman left Allscripts late last year after being unable to take the company private. During the reorganization that followed, McGraw also left her post as chief client officer. McGraw had spent more than a decade at the company.