Digital health firm MD Revolution announced Monday that it has completed a $23 million financing round co-led by Chicago-based Jump Capital and an undisclosed global healthcare technology company.
The financing comes in conjunction with the appointment of Dr. Garrett Vygantas, partner at Jump Capital, to MD Revolution’s board of directors.
The San Diego company’s software (called RevUp) pools health and fitness data from a variety of sources — digital blood pressure monitors, FitBits and others — and enables patients to track their health in real time on a digital dashboard. Predictive-intelligence algorithms built into the app can differentiate which users are more likely to stick with health regimens, and which ones might drop off and require more encouragement, based on the data they input.
With RevUp -- a Medicare-compliant, patient-engagement platform -- physician practices can leverage an end-to-end solution for chronic care management with minimal disruption to practice workflow.
MD Revolution’s first chronic care management customers were enrolled in February 2015, according to a recent news release. MD Revolution now serves over 100 practices and plans to add hundreds of additional practices representing several hundred thousand patient users next year, according to a MD Revolution news release. Under new Medicare rules, physicians and other providers are now reimbursed for 20 minutes of non-face-to-face time each month for their patients with chronic disease.
This recent round of financing brings the company’s total raised capital to over $30 million.