TransformativeMed Secures $5.8M Series A Funding to Enhance EHR Usability with Machine Learning

On May 13, 2019, VCBeat (WeChat ID: vcbeat) learned that TransformativeMed announced the completion of a $5.8 million Series A financing round. The round was led by Alliance of Angels, with participation from SWAN Venture Fund. The funds will be used to bolster its sales and marketing efforts and to promote the CORES Value Suite application across the United States.

TransformativeMed, founded in 2011, is a healthcare software company headquartered in Seattle, USA, dedicated to developing Cerner-integrated applications. The CORE Value Suite application optimizes caregivers’ workflows and enhances the use of clinical intelligence tools to support complex disease management. By leveraging machine learning technologies, the application seamlessly integrates patient-specific and specialty-specific care information, significantly reducing redundant data entry and thereby streamlining workflow and decision-making processes.

Currently, tens of thousands of clinicians at more than 130 hospitals and health systems (such as Dignity Health, Baptist Health, and MedStar) are using the CORE Value Suite application to optimize electronic health record (EHR) usability, thereby improving clinician productivity and satisfaction.

TransformativeMed’s CORE Value Suite application leverages the Cerner MPages toolkit, offering plug-and-play functionality without the need for interface integration. The CORE Value Suite includes:

• Applications for Optimizing Workflows:The application enhances the efficiency of notifications and messaging, incorporating an extended application development strategy across inpatient settings.

  
  

• Applications of Augmented Intelligence:This application supports clinical decision-making and the management of complex conditions, such as diabetes. The initial product offerings are GlycemiCare™ and CarbCare™.

  
  

• Modern Clinical Integration:The CORE application and the EHR innovation platform can ensure data transparency and on-demand accessibility without HL7 interfaces. The application uses machine learning to filter EHR data and, through voice integration capabilities, allows healthcare providers to access information on mobile devices such as smartphones.

Doug Cusick, President and CEO of TransformativeMed, stated: “TransformativeMed enjoys a strong reputation in the clinical communication and collaboration market. The market has proven that our EHR approach is effective, and the CORE Value Suite is redefining the clinical communication and collaboration landscape. Investors have full confidence in our applications, and with their support, we will accelerate the company’s growth.”

Alliance of Angels is the largest and most active angel investment group in the Pacific Northwest. Each year, the organization invests over $10 million in more than 20 companies. Since 1997, it has invested over $100 million in more than 200 companies, generating returns exceeding $1 billion. Alliance of Angels boasts over 140 active angel investors and a $6.6 million seed fund.

SWAN Venture Fund is an investment group composed of entrepreneurs and industry experts. Based in the Seattle area, the firm focuses on B2B technology companies with strong teams, early-stage revenue, and competitive advantages. It typically participates in seed-stage financing, with investment amounts ranging from $500,000 to $1.5 million.

(Compiled by: He Qiongfeng)