Medical data company Moxe Health raised $30 million from investors to grow its team and improve its technology, the Madison firm announced earlier this month.
The Series B financing round was led by growth equity firm Piper Sandler Merchant Banking and health tech venture and growth equity firm Vensana Capital, according to the June 1 announcement.
Moxe Health digitizes medical charts and enables data exchanges between health providers and payers. It serves payers that represent 75 million patients and more than 60 hospital systems, Moxe founder and CEO Dan Wilson said in a statement.
The company says its solution helps make health care more affordable by reducing administrative waste. Its solutions are compatible with the leading electronic health records providers, including Epic and Cerner.
"Moxe eliminates administrative waste by evolving patient-centric interoperability and improving payer-provider collaboration," Wilson said in a statement.
The company didn't immediately respond to questions about details including the number of employees it plans to hire. It currently has open roles in customer success, engineering, implementation, product, sales and more, according to its website.
The company's $30 million round is likely to be among the largest investment deals closed by Wisconsin companies this year. In 2021, the average investment round for Wisconsin entrepreneurs was $7 million and the median was $1 million, according to a report from the Wisconsin Technology Council.
Moxe Health has raised a total of $36.2 million in funding to date, according to Crunchbase. Its other investors include BrightStar Wisconsin Foundation Inc.; 3M Ventures, the venture capital arm of The 3M Co. (NYSE: MMM); technology capital provider Safeguard Scientifics (NYSE: SFE) and others.
Moxe Health was founded in 2012, according to the company's LinkedIn page.
