A Houston-based health data company has closed a $17 million Series B fund raise along with an additional $10 million in debt financing.
Medical Informatics Corp., which provides data and analysis for virtual care providers, said Nov. 29 the funding was co-led by New York-based Catalio Capital Management and Intel Capital. Jonathan Blankfein, a principal at Catalio, will join MIC’s board of directors as part of the round.
“Health care systems’ need for high-caliber, cost-saving, data-driven technology is only going to increase, and MIC’s proprietary platform is perfectly positioned to address some of the most critical clinical challenges that health care organizations face,” Blankfein said in the announcement.
The round included new investment from TGH Innoventures, the venture fund of Tampa General Hospital in Florida. Returning investors from the company’s $12 million Series A round in April include California-based Data Collective Venture Capital and the Texas Medical Center Venture Fund.
MIC’s flagship product is Sickbay, which captures and processes health care data from biomedical devices attached to patients. The data is then filtered through analytics and artificial intelligence to provide medical insights.
“We have seen an increased demand for our solution as our clients face significant staffing challenges and are looking for ways to amplify and empower their workforce,” CEO and co-founder Emma Fauss said in the Nov. 29 announcement. “Some of the largest health care systems in the country are standardizing their infrastructure on our Sickbay platform while consolidating IT spend.”
Incorporated in 2010, MIC received an initial investment from the TMC in 2013 before raising $11.9 million in Series A funding in 2019. At the time, Fauss told the Houston Business Journal that the funds would go toward increasing the company’s headcount. Houston Inno has reached out for the company's current number of employees.
In 2021, MIC was one of three Texas startups named to the Amazon Web Services Healthcare Accelerator program, which targeted early-stage companies and offered opportunities to collaborate with AWS health care clients.
