Medicom Technologies, a Raleigh-based company developing software to improve medical care has raised $5.2 million in a private equity offering, according to a filing Friday with the Securities and Exchange Commission.
Medicom raised the money from 11 investors, according to the filing. The company said it will use the money for working capital.
The company had earlier raised $250,000 in June and another $275,000 in July 2016, according to filings.
Medicom is a web application for the medical industry that provides fast and secure file transfers.
The company was founded in 2015 by Malcolm Benitz, a North Carolina State University graduate.
Along with three tech friends, Benitz developed technology with military-grade encryption that is HIPAA compliant and allows physicians and health care providers to quickly share files through a peer-to-peer connection versus through the cloud.
Private companies similar to Medicom, which rely on a Reg D exemption, aren’t required to register securities offerings with the SEC, but instead they must file a Form D electronically with the SEC after they sell the securities.
Note: This story is from the North Carolina Business News Wire, a service of UNC-Chapel Hill’s School of Media and Journalism