Bridge Connector Secures $10 Million in Convertible Debt to Advance iPaaS Solutions for Healthcare Interoperability

VCBeat (WeChat ID: vcbeat) has learned that on April 16, medical information technology company Bridge Connector completed a $10 million convertible note financing round. The investor, Axioma Ventures, is a venture capital firm primarily focused on early-stage technology startups.

It is reported that Bridge Connector has raised a cumulative total of $20 million from Axioma Ventures, having previously secured seed funding and Series A financing in June and August 2018, respectively.

Bridge Connector plans to utilize these funds to advance the technology of its integration Platform-as-a-Service (iPaaS), further refine its product offerings for vertical markets, and expand its sales, technical, and product teams. Additionally, the company intends to conduct a Series B financing round by the end of the year.

Bridge Connector, founded in 2017 and headquartered in Nashville, Tennessee, is transforming communication across all facets of healthcare. Through its integration platform as a service (iPaaS) tools and other solutions, any healthcare organization can automatically transmit data between disparate systems without requiring internal IT support. Bridge Connector’s business model aims to create an ecosystem where all healthcare organizations, regardless of size, can share data equitably.

Scope of Platform-Integrated Information (Image source: company website)

Bridge Connector’s products eliminate the need for months-long deployment of traditional integration platforms, instead enabling the connection of disparate data systems within days via a “no-code” platform. On one hand, this platform automates workflows in both business and clinical use cases. On the other hand, by delivering transparency and true interoperability, it empowers healthcare providers, payers, and patients to make more confident care decisions.

With the rise of value-based payment service models, achieving data interoperability has become a consensus among healthcare-related enterprises. “When we rethink the integration of health information from the perspectives of ‘workflow’ and solutions, the realization of interoperability is no longer distant; companies can more rapidly deliver the value demanded by the market through their own integration platforms. We have already partnered with the world’s largest healthcare organizations, and this transformation is just beginning,” said David Wenger, Founder and CEO of Bridge Connector.

After one year of operations, Bridge Connector has received multiple awards and was named one of the Best Places to Work by the Nashville Business Journal in 2019. David Wenger stated, “Our team continues to grow; we started with just five people and have now expanded to 70, with plans to exceed 100 employees by the end of this year.”

Axioma Ventures is a venture capital firm ranked among the Fortune 1000 in the United States, renowned for its strong execution capabilities, leadership, and global influence. Axioma drives rapid growth in shareholder value by investing in technology-driven startups.

Integration Platform as a Service (iPaaS) is a set of automation tools used to connect software applications deployed in different environments. iPaaS can aggregate on-premises applications and data with cloud-based applications and data, and is frequently applied to data connectivity and sharing between B2B enterprises.

(Compiled by Wang Yue)