RALEIGH – A Raleigh startup that provides a medication management platform, Truentity Health, has raised a $1 million pre-seed funding round to accelerate the company’s product development and to make key hires.
“We are thrilled to announce that Truentity Health has raised $1M in Pre-Seed funding,” a LinkedIn post from company cofounder and CEO Mike Desai reads.
Truentity Health cofounders Mike Desai and Rajeev Tipnis.
The company saw demonstrable results in its initial deployments, according to a statement issued by the startup. The company’s platform “generated more accurate medication data” than data already within electronic health records, and providers were found to save as much as 40 minutes per patient during pre-admission or post-discharge medication reconciliation, the company stated.
“Medication errors are now the leading cause of medical-related injuries, and non-optimized medication therapy costs over $528.4 billion annually,” Desai’s post reads. “Our north star is to eliminate medication-related errors and optimize medication therapy for millions by building a modern cloud-based medication management system that is patient-centric and provider-focused.”
Desai added that the company is only starting its journey. The statement notes that the company has doubled its growth in the three prior months. Desai’s LinkedIn profile notes that the company is hiring, and the statement notes that the firm plans to hire key staff for the startup’s go-to-market plan.
The company participated in the virtual CED Venture Connect event in 2021. Desai’s LinkedIn profile notes participation in and completion of a Y Combinator program, Startup School, in 2020.
“Our funding is being used to grow our team and expand our platform to better meet the needs of our customers,” Desai’s post reads. “A special shoutout to our early customers, investors, advisors, friends, family, and everyone who helped make this possible: Thank you!”
The company’s website does not list any open jobs, nor does the company’s LinkedIn page, however, Desai’s LinkedIn profile notes that the company is hiring.
Startup co-founded by Duke health execs aims to help people with multiple chronic health conditions
