Martin Cos. funds Chicago Healthbox grad

Former Vanguard VP looks to scale physician payment system

Local venture capital firm The Martin Companies has pumped $1 million into a Chicago startup with a technology platform that lets doctors log their hours and hospital administrators streamline their approval and payment processes.

The funding raised by Ludi Inc. — Ludi stands for "Lets u do it" — is its first formal round and Martin Companies was the only investor. Ludi is run by Gail Peace, pictured below, a former vice president of business development for Vanguard Health Systems, which was led by Martin Companies CEO Charlie Martin until its $4.3 billion sale last October. Peace plans to use the money raised to scale the company.

Ludi was launched in 2012 and recently completed the four-month Healthbox business accelerator program in Chicago. (Healthbox organized its first Nashville cohort last fall and is reassessing its local approach with an eye to 2015.) Its DocTime Log technology promises more accurate and efficient record-keeping for doctors and physicians.

“We are proud to support emerging companies, like Ludi, that offer real solutions to hospitals,” Martin said. “The physician payment platform developed by Ludi is a tremendous tool that assists health care systems in assuring regulatory compliance while simultaneously improving physician engagement.”

Ludi is the second recent Healthbox graduate to catch the eye of Martin Companies. This spring, the firm invested in Nashville- and San Francisco-based Clariture, which is rolling out a marketing platform for hospital systems and urgent care providers.