Local immunization data venture MedPass Health has raised $760,000 from its founders and seven angel investors and aims to grow its staff to 20 from today's half dozen over the next year. CEO Hallett Ogburn and his team also have struck a partnership with the University of Alabama Management Information Systems program. Milt Capps has that info and more — including another capital raise — here.
The UA alliance helped MedPass develop its initial platform by drawing on a formalized team of six UA MIS students, who each work 20 hours per week, with guidance from MedPass engineers and oversight by a sponsoring faculty member, Joanne Hale, Ph.D. The UA MIS students are now working on MedPass iOS and Android mobile apps, which are to be available by late Summer.
Milt Capps at Venture Nashville has touched base with the team at Life Science Tennessee, which will next week visit Capitol Hill to make their case for tens of millions in funding from various sources. Along with Life Science Tennessee Chairman Steve Bares and other board members, Hall Strategies Partner Abby Trotter will represent the organization.
Bares and Trotter told VNC that LSTN does not yet have sponsors for legislation to provide the support the association seeks, but LSTN is on the lookout for such opportunities and is steadily engaging legislators on the matter. They do not pretend that success this year is do-or-die, and say they plan to persist, regardless the outcome in this session.
Three-year-old patient engagement and case management company RoundingWell is ready to "step on the gas," co-founder John Smithwick tells Milt Capps at Venture Nashville Connections. The company is putting the finishing touches on a $3 million capital raise and preparing to move to Church Street's Midtown section.
By year's-end, Roundingwell could hit 30 full-timers on its payroll, up from its current total of 13 full-timers and some dedicated consultants. Its website shows openings for both tech developers and sales and marketing.
Last week, InCrowd Capital reported its expansion into Huntsville as accredited angel investing becomes more popular through the South. Angel investing isn't a new concept, but InCrowd Founder and CEO Phil Shmerling took some time to tell Kelley Boothe at Southern/alpha why he thinks this investment style is on the rise.
Shmerling pointed out that it's cheaper than ever to start a business. Access to the internet, access to the marketplace, cheaper storage costs and little overhead are all factors that make it easier for angels to say yes when they know the startup has traction. Additionally, Shmerling's model is built to handle groups of investors so individuals don't have to invest as much per round.
"We make anyone feel comfortable investing in startups," Shmerling said.
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