What You Should Know:
- Rymedi, a healthcare data exchange platform with advanced blockchain security, has announced a Series A totaling $9 million with plans to expand the reach of their platform.
- The round was co-led by RW3 Ventures and White Star Capital with participation from Blockchange Ventures, Avalanche’s Blizzard Fund, and strategic angel investors from the healthcare industry. Rymedi, which serves over 1 million patients in over 1,200 locations across the US, Africa, and Australia, will use the financing to increase data security and healthcare record accessibility for patients while reducing data entry errors and costs for healthcare data infrastructures on a global scale.
Using Financing to Increase Data Security and Healthcare Record Accessibility
“We are always searching for great teams that are using blockchain technology to solve real-world problems with the potential to address global markets,” said Pete Najarian, Managing Partner of RW3 Ventures. “The Rymedi team and product suite fit that thesis perfectly, and we are delighted to be on this journey with them. While healthcare data management has remained inefficient and expensive, we believe Rymedi’s blockchain-based solution is having a meaningful impact on cost, connectivity, security, and user experience.”
The Rymedi platform, which currently supports Clemson University and many other large organizations throughout the world, removes the friction of a manual, paper filled operation to quickly connect with customers and patients and scale lab processes with higher testing throughput and lower total cost of ownership.
In the areas of occupational health, clinical trials, and laboratory information management systems, it automates data transfer with flexible interoperability, streamlines data entry with real-time results, and meets global regulatory compliance standards with unrivaled security. This is all made possible by Rymedi’s innovative blockchain-based backend, which is uniquely suited to facilitate data access across multiple parties and platforms.
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