Atlanta financial technology startup Medxoom Inc. raised $8 million, according to a filing with the U.S. Securities and Exchange Commission.
Medxoom allows companies and employees to manage their healthcare benefits and compare medical procedure prices on its app. The goal is to create more transparency in medical billing to save money and time.
According to the filing, the company has six investors.
Atlanta fintech investment firm TTV Capital includes Medxoom in its portfolio. Dean Hatton, whose LinkedIn profile says he’s a founding partner at Florida early-stage investment firm Las Olas Venture Capital, is listed in the SEC filing. The startup did not respond to requests for comment before press time.
Usually, an $8 million raise indicates a Series A round, which is a move toward growth from the startup’s beginning stages, where it may still be working out its product market fit.
Medxoom, led by CEO and founder Jeffrey Toewe, brings together healthcare and fintech, two popular industries in the innovation ecosystem that grew out of Atlanta's legacy healthcare and payments infrastructure. The startup presented at Venture Atlanta 2020, the Southeast's largest investor conference.
Toewe has spent his career in tech startups, according to his LinkedIn, and also serves as a tech consultant with Binary Parcels Inc. in Florida.
Medxoom raised a $3.3 million round in 2019, according to an SEC filing.
The startup is located in Tech Square, according to the SEC filing, and has 18 employees listed on LinkedIn.
