Washington, D.C.-based Kit Check closed out 2015 as a DC Inno 50 on Fire winner and isn't slowing down in 2016. The hospital pharmacy tracking software and RFID hardware maker is kicking off the new year with a $2.7 million raise. The money, raised out of a $5 million equity offering, is all from previous investors and comes in just a year or so after the company's $12 million funding round.
"The money will help us with a lot of near-term opportunities for growth," said Kit Check chief marketing officer Bret Kinsella."
Funding like this is going to matter for Kit Check this year as its growth has accelerated of late, with new staff and a new office in Dupont Circle, along with new clients added on a regular basis, nearing 300 hospitals total. There's also a new product in the works, though Kinsella couldn't say as yet what it would be, only that it fits into the technology that Kit Check has become successful with. Notably, Kinsella said that using Kit Check, hospitals are reporting a time savings of 71 to 96 percent and a higher rate of accuracy.
"We weren't even going to announce this funding, it's a pretty standard thing," Kinsella said. "But, 2016 will be a big year for us and we're enjoying a lot of success even before we roll out our next project."
