Florida Funders has kicked off its second fund, helping lead a $4 million investment for a Miami startup.
HealthSnap, which provides an analytics and remote patient monitoring platform to help manage chronic disease virtually, raised $4 million on Tuesday, according to reports.
Florida Funders co-led the round, investing $1.4 million. The number was a combination of its Seed FL Fund, the FL Institute and its Florida Funders Fund 2. According to U.S. Securities and Exchange Commission filings, $791,500 was from 52 investors.
“With chronic diseases being among the most prevalent and costly health conditions in the United States, HealthSnap’s platform is giving health care providers the ability to better manage their high-risk chronic patients at home, while also empowering patients to keep track of their health,” Tom Wallace, managing partner at Florida Funders, said in a statement. “Their innovative approach to health care management is connecting patients and providers in a way that has been missing from the marketplace.”
The deal will also bring the addition of Florida Funders' Steve MacDonald to its board of directors. He was the founder of myMatrixx and is currently launching his own venture fund.
“We’re a proud Florida company and have known for years that the Sunshine State is truly the Startup State," HealthSnap's CEO Samson Magid said in a statement. "What better place to transform health care than Florida, which is becoming a true hub for innovation and technology.”
This is the second investment in Florida Funders' second fund, which has raised more than $10 million with the goal of $75 million total. Its first fund closed in August 2020, totaling $18 million. This month alone, the crowdfunding/angel investing hybrid also participated in a $3.6 million investment in marketing tech company SiteWit.
