{"id":3407,"date":"2022-12-23T10:47:13","date_gmt":"2022-12-23T10:47:13","guid":{"rendered":"https:\/\/regtechafrica.com\/healthcare\/?p=3407"},"modified":"2022-12-23T10:47:13","modified_gmt":"2022-12-23T10:47:13","slug":"global-healthcare-data-is-a-mess-and-metriport-is-here-with-a-broom","status":"publish","type":"post","link":"https:\/\/regtechafrica.com\/healthcare\/global-healthcare-data-is-a-mess-and-metriport-is-here-with-a-broom\/","title":{"rendered":"Global: Healthcare data is a mess and Metriport is here with a broom"},"content":{"rendered":"

You\u2019d have thought that the quantified self movement was stalling out, but Metriport<\/a>would like to tell you otherwise, thank-you-very-much. We covered the company back in February, and now it has raised $2.4 million to evolve to the next level.<\/p>\n

The company went through Y Combinator, and in the process discovered how fractured the healthcare IT space was.<\/p>\n

\u201cOne major issue that exists in the U.S. today is the fact that many individuals still aren\u2019t able to access their own medical data, largely due to gatekeeping by hospitals and other medical providers. This is because these hospitals and providers use proprietary software systems that make it difficult for patients to access their own medical records or to share them with other providers,\u201d says Colin Elsinga, co-founder & COO at Metriport, in an interview with TechCrunch. \u201cWe realized that there was so much work to be done in this space to make the data more accessible and that hardly anyone in the space was working on an open source, non-proprietary solution. Since we\u2019ve always been mission-driven founders, having previously built a consumer health app, we decided to go after this larger problem with the goal of democratizing access to healthcare data and ultimately improve patient health outcomes.\u201d<\/p>\n

The funding round came together with investment from Y Combinator, Triple Impact Capital, Nueterra Capital, Leonis Investissement, Zillionize, VentureSouq, Stonks and MyAsiaVC, along with a number of angel investors.<\/p>\n

\u201cThe fundraise allowed us to grow our team and accelerate our engineering velocity, which is great since we have a lot of product to build. Additionally, it allows us to pave our way through the various compliance and legal fees tied to entering the healthcare space, which is extremely regulated. Today we\u2019re excited to have launched our first product, our Health Device API, which allows digital health companies to gain access to their users\u2019 consumer health data from various wearables, RPM devices and mHealth apps,\u201d says Elsinga. \u201cThe next steps for us in the near term will be launching our second main product, our Medical API, which will allow companies to gain both access to their patients\u2019 medical records and interface with EHRs. Both of these products are open source, which is a huge differentiator in the market.\u201d<\/p>\n

The company tells me it raised a $2.4 million seed round at a $20 million valuation, all on post-money SAFEs, and are working to launch its Medical API in 2023.<\/p>\n

\u201cBeing the first open source solution of its kind, we\u2019re really excited to see what sort of community contributions will come out of this, and how it will enable new companies to make innovations in the space that weren\u2019t previously possible. We will set a new standard for dev-friendliness, transparency and accessibility in the health tech data space,\u201d co-founder and CEO at Metriport, Dima Goncharov explains.<\/p>\n

The company thinks of itself as the medtech equivalent of what Plaid did for fintech; opening up a door for emerging digital health companies to get access to the data they need to grow and scale quickly.<\/p>\n

\u201cBased on the volume of customers lining up eager to use our product, we ask ourselves the same thing,\u201d says Goncharov, when asked why nobody is doing this already. \u201cThe way we see it is that in every industry, when the existing players stagnate from being comfortable off of profits from the status quo, the market is open for disruption by younger, hungrier and more modern companies. That time is now in the healthcare data space, we know this needs to be built, and we\u2019ll be the company to spearhead those efforts \u2014 setting industry standards along the way.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"

You\u2019d have thought that the quantified self movement was stalling out, but Metriportwould like to tell you otherwise, thank-you-very-much. We covered the company back in February, and now it has…<\/p>\n","protected":false},"author":1,"featured_media":3408,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[73,80],"tags":[],"class_list":["post-3407","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-global","category-news"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/i0.wp.com\/regtechafrica.com\/healthcare\/wp-content\/uploads\/2022\/12\/D7F3B177-733F-4263-B40B-E1EE3F466AE2.jpeg?fit=631%2C486&ssl=1","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/regtechafrica.com\/healthcare\/wp-json\/wp\/v2\/posts\/3407","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/regtechafrica.com\/healthcare\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/regtechafrica.com\/healthcare\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/regtechafrica.com\/healthcare\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/regtechafrica.com\/healthcare\/wp-json\/wp\/v2\/comments?post=3407"}],"version-history":[{"count":1,"href":"https:\/\/regtechafrica.com\/healthcare\/wp-json\/wp\/v2\/posts\/3407\/revisions"}],"predecessor-version":[{"id":3409,"href":"https:\/\/regtechafrica.com\/healthcare\/wp-json\/wp\/v2\/posts\/3407\/revisions\/3409"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/regtechafrica.com\/healthcare\/wp-json\/wp\/v2\/media\/3408"}],"wp:attachment":[{"href":"https:\/\/regtechafrica.com\/healthcare\/wp-json\/wp\/v2\/media?parent=3407"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/regtechafrica.com\/healthcare\/wp-json\/wp\/v2\/categories?post=3407"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/regtechafrica.com\/healthcare\/wp-json\/wp\/v2\/tags?post=3407"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}