Local investment firm FCA Venture Capital has put $4 million into a Chicago-based software company that helps hospitals improve their supply chain operations. Procured Health is being led by former McKinsey & Company consultant Hani Elias and will now be advised by former HealthTrust boss Jim Fitzgerald.
Progressive healthcare providers have demonstrated that effective product analysis and outcomes-driven sourcing can reduce costs by more than 30% across multiple service lines. Procured’s web-based solution enables hospital systems and caregivers to improve both clinical and financial performance by incorporating evidence into their procurement strategy, driving vendor competition where outcome differentiation is unproven, improving utilization and physician compliance, and leveraging scale.
Nashville-based Jumpstart Foundry was named one of the 15 best business accelerators in the nation, according to CrunchBase data and original reporting presented Monday at SXSW. MIT professor Yael Hochberg and Susan Cohen of the University of Richmond and the University of Virginia compiled the results, ranking Jumpstart 14th.
The accelerators were measured using several criteria, including the valuations their portfolio companies achieved in the years after graduation, the number of exits an accelerator had, the ability of companies to receive additional financing after they left the program and opinions of venture investors and graduation entrepreneurs.
Just last month, the business incubator became an independent entity after leaving Solidus.
Find CrunchBase's full list here.
A group of investors affiliated with Jumpstart Foundry has taken the lead on a $1.2 million fundraising round for PandoDaily, the Silicon Valley news and event company. Sarah Lacy, the editor of the two-year-old site pictured here, says Jumpstart's role in bringing together the "unconventional group of investors" stemmed from her involvement with the Southland conference, which debuted last June.
$1.2 million is more than we initially set out to raise, and we are still wrapping up a few last conversations, so the final total may tick up to $1.5 million before it’s all done (I’ll update this post and our disclosure page if that happens). We were lucky to raise that money at a healthy valuation, which I won’t disclose, because no entrepreneur ever does if she can help it. The new investment brings our total raised to date to $4.2 million.
HT: Southern Alpha
Four-year-old business incubator Jumpstar Foundry is leaving the Solidus nest to become an independent entity. The venture has raised an undisclosed amount of money from an investor group led by Clayton Associates that will fund both its start-up program and its Jumpwerx arm that looks to stimulate innovation in established businesses. Twenty-one of the 27 JumpStart graduates are still around and have gone on to raise more than $11 million.
For Clayton, the investment rounds out the firm's lineup of investment vehicles. Chairman Stuart McWhorter says his firm “has always been passionate about seed and very early-stage investing. Our investment in Jumpstart provides our firm the opportunity to strengthen our presence in the seed stage investment cycle. It further enhances the continuum of venture capital investing by complementing our angel fund, Rolling Hills Ventures, and our venture capital fund, FCA Venture Partners.”
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