Porter, a Miami startup that connects people with what they need to manage illness and injuries at home, aims to grow its market share after securing $5.3 million in funding.
The seed round was led by Grit Capital Partners, Old Line Capital and JLC Family Office. Evergreen Advisors Executive VP George Davis and TapCloud CEO Phil Traylor also joined the the company's board of directors, according to a news release.
"Gaining their wisdom and financial support in step with our growth is positioning us well to deliver on the model we're building here at Porter," founder and CEO John Criswell said.
Founded in 2021, Porter's artificial intelligence-powered platform connects members with curated services, products and information to help patients manage their heath remotely. That includes access to a Porter Care Guide that can explain insurance benefits and coverage, and find and coordinate appropriate care. Members also have access to a team of clinicians who can perform in-home assessments, including lab and diagnostic testing.
"OLC is confident that the marketplace will benefit from Porter's more advanced technology and its more member-centric care model," Old Line Capital general partner John Kessler said.
Porter has at least a dozen employees, according to Crunchbase, a company that provides information about public and private ventures. A representative for Porter did not immediately respond to the Business Journal's request for comment.
The startup previously raised $5.1 million across two fundraising rounds completed in 2021.
The financing news follows a disappointing year for digital health tech firms in the U.S. CB Insights reports funding for health tech startups fell to $3 billion in the third quarter of 2022 from $11 billion the year before. Global funding declined 36% quarter over quarter, to $4.6 billion.
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