ASHEVILLE – Configo Health has closed a $2 million fundraising round led by the Pisgah Fund and will relocate its headquarters to Asheville, the startup announced this week.
The company, a provider of analytical benchmarking solutions for pediatric hospitals, noted in a statement that the rationale behind the relocation and the fundraising was due to a “broader commitment to grow a health analytics hub in Western North Carolina.”
According to the company, the funding will enabled the firm to bolster customer engagement. It is forecasting 300% growth in 2022, according to the company’s statement.
The Pisgah Fund is managed by Hatteras Venture Partners and is a $50 million venture fund that focuses in healthcare companies that will create jobs in the regional economy through operations that impact 18 western North Carolina counties.
“Western North Carolina has tremendous potential,” a statement on the Pisgah Fund website reads. “With rich and diverse mix of businesses and entrepreneurs, the region is poised for post-COVID growth, particularly as individuals and companies move away from high-density regions. Yet, the region has long been underserved in terms of private equity and venture capital investments.”
Ecobot, founded and headquartered in Asheville, raised $2.8 million earlier this year, including backing from Cary-based Cofounders Capital and the Charlotte Angel Fund.
Craig Manson, CEO of Configo Health, said in a statement that pediatric hospitals are a “historically underserved sector of the market” when it comes to analytical benchmarking.
“Children’s hospitals have historically lacked the data analytics capabilities available to adult hospitals that can help improve healthcare outcomes for children and Configo is dedicated to changing that,” said Lauren Pierce Flickinger, Fund Manager for the Pisgah Fund, in the statement.
The company was founded in 2019 and also operates from offices in New York and Washington, D.C., according to the company’s statement.
“We see a real opportunity to drive innovation and growth in the region by providing entrepreneurs with the growth capital needed to take their businesses to the next level,” the statement on the Pisgah Fund website reads.