Athletes and non-athletes alike deal with injuries all the time, especially as more folks hit the gym in the pursuit of New Year's resolutions. An Albuquerque startup that wants to help these people stay healthy has opened a pre-seed round of funding to help develop and market its health management system.
WaveOn Health launched in 2020. The startup is developing a digital athlete health management system with a mobile application that includes a "digital toolbox" with other health and wellness platforms, its founder and CEO Adam Halpern told Albuquerque Business First.
"What we're building is [a] central hub that allows us to integrate with existing technology platforms that are evaluation tools, assessment tools and programming tools," he said. "We're just lumping all that together into our digital toolbox."
WaveOn opened its pre-seed funding round in December and hopes to close the round by the end of the first quarter of 2023, Halpern said. Money from the round would go toward what he described as a "three-pronged approach" to building out the startup.
The first prong is developing a minimal viable product. WaveOn is working with a company called Mile Marker to build the product and develop its end-user experience.
The goal, Halpern said, is to keep users of the app in the same central hub "environment" instead of having to download other apps or search the internet for answers.
WaveOn also wants to use the money raised to hire four new full-time employees. Halpern said that the startup plans to hire people that have already been working on the application on the side for full-time roles. He also plans to bring on some independent contractors.
And, third, WaveOn wants to use the money raised to grow its marketing and sales.
Some of the technology partners WaveOn is currently working with include Fusionetics, a tool to capture movement, and SWAY, a cognition and balance tool. Halpern also said that the startup is in talks with healthcare-based tools to include in WaveOn's digital toolbox.
WaveOn announced a partnership with Chicago-based advanced healthcare platform PatientMD to help streamline the app's medical record process in February. Halpern and David Novosad, WaveOn's chief operating officer, said that they plan for the app to use a subscription-based model, with an annual fee of $65.
The startup has received some financial backing from Albuquerque-based angel investment firm GOS Capital. GOS Capital's investment portfolio includes other New Mexico startups like Ganymede Games, Electric Playhouse and Build With Robots.
