MedTrans Go Inc., an Atlanta health technology startup, raised a $1.5 million seed round about a year after Atlanta Inno named the company a 2021 Startup to Watch.
Inside the deal: Morgan Stanley (NYSE: MS) led the round, MedTrans Go CEO Dana Weeks said. MedTrans Go was one of eight startups to participate in the global financial services firm’s 2021 Multicultural Innovation Lab accelerator. The raise brings MedTrans Go’s total investments to $3.2 million. Most other investors are based in Atlanta, Weeks said.
Why it matters: The seed round shows early traction for MedTrans Go, which focuses on allowing more people to have access to healthcare services by providing facilities with transportation, interpreters, prescription delivery and telemedicine options. The COVID-19 pandemic highlighted the need for more technology and the problems with access to healthcare, Weeks said. MedTrans Go is working to alleviate those issues.
About the company: Weeks and MedTrans Go President Obi Ugwonali founded the company in 2017 to deal with cancelled healthcare appointments. The team realized that cancellations, sometimes costly for medical facilities, usually stem from lack of transportation or a language barrier, Weeks said. MedTrans Go is a marketplace for healthcare facilities to find transportation, interpreter services, delivery and telemedicine options to prevent cancellations. The startup operates mostly in the Southeast and is based in the Advanced Technology Development Center startup incubator in Midtown.
What’s next: MedTrans Go plans to expand its customer base with the latest round of funding. The startup operates in 10 states and sees opportunities for geographic expansion, Weeks said. It also plans to target larger, enterprise customers, such as hospitals and insurance companies, as well as growing partnerships with customers. MedTrans Go has about 12 full-and part-time employees and plans to expand to about 22 by the end of the month.
What they’re saying: “The need for what we are doing became even more obvious during the pandemic. Challenges with access can mean significant challenges for your bottom line as a healthcare provider,” Weeks said.
