We have an incredible group of innovative client partners, advisors and investors that are helping us accelerate our mission of keeping people happy and healthy in their home. Thanks to John Pletz at Crain’s Chicago Business for helping us announce our recent growth:
PreparedHealth, a Chicago startup that’s using social media and big data to help patients recover more quickly and stay out of the hospital, has attracted $4 million from several well-known investors.
Chicago Ventures led the deal, which also included local funds Pritzker Group Venture Capital; Beverly Capital, a firm led by former GTCR partner Joe Nolan, and Indianapolis-based Meridian Street Capital.
The product resonated with Kevin Willer, a partner at Chicago Ventures, whose father suffered an illness before dying last year. “We think this is a massive opportunity,” he said. “We dealt with some of these issues. They hand you a sheet of paper when you walk out of the hospital. It should be more coordinated. Having access to a platform would help coordinate care and communication.”
“The funding allows us to invest in R&D and enter five to seven markets that are really struggling with a rapidly aging population, and find a way to bend the cost curve,” said CEO Ashish Shah, who founded the company with David Coyle in 2015. “We could have continued to bootstrap but would have had to make choices that would take us off our mission.”
Read the full article here.