Durham startup Validic, which provides a way for health care companies to talk to communicate with the countless number of applications from mobile apps, wearables and other devices, is ramping up with addition executives and $2.1 million in new funding.
The company already has a high-profile investor in Dallas Mavericks owner Mark Cuban, who has put $760,000 into the venture. (Be sure to read WRALTechWire’s report about how Validic convinced Cuban to invest.)
On Wednesday, Validic said it had raised a total of $2.1 million in new funding.
The latest close involves a $1.25 million convertible note from SJF Ventures and angel investors.
Validic had closed recently on some $900,000.
Validic takes all of the data from the various consumer, fitness, home health devices and medical devices and offers to a health care entity a single application programming interface. Instead of trying to integrate with all of these different applications, a health care system, insurance company or corporate wellness vendor just needs a single API connection through Validic. The company launched its platform in April of 2013.
Part of the new funding is being used to expand Validic’s management team with three executives who have extensive healthcare management experience.
- John Turnburke, previously with MedFusion and Intuit Health, as the senior vice president of business development.
- Chris Edwards, previously with Allscripts, as senior vice president of marketing.
- Ben Clark, previously with Allscripts and Intuit Health, as vice president of operations.
Intuit Health had bought Cary-based Medfusion then sold it back to the firm’s original founder last fall.
“Combined, John, Chris and Ben have over 60 years of healthcare and technology experience,” said Ryan Beckland, co-founder and CEO of Validic, in a statement. “They will further advance our customer acquisition strategies, business partnerships and operational excellence. And, with this funding, they will help Validic evolve our position in the mobile health marketplace to create even more value for our clients.”
Beckland added that Validic has recently closed on deals nwith “several significant clients.”