MATH Closes Second Venture Fund

This article was originally published on PRNewswire

CHICAGO, April 30, 2019 /PRNewswire/ -- MATH Venture Partners (MATH), a Chicago-based early stage venture capital firm, announced the closing of a new $46 million fund. MATH's new fund, its second since 2014, will continue to invest in early-stage technology companies that demonstrate an unfair advantage in customer acquisition and retention.

MATH invests in digital technology companies across industries including B2B/B2C software, marketplaces, ecommerce and IoT. MATH II will make approximately 15 venture investments with initial investment size up to $2 million. The fund will also make 20-25 seed level investments of $100,000 each. With a primary focus in the Midwest and other under-capitalized markets, the fund invests across the U.S. and Canada. 

MATH's investment team consists of three managing directors, Mark Achler, Troy Henikoff, and Dana Wright and principal, Samara Mejia Hernandez. The four-person team has been together since 2015, establishing a track record of partnering with entrepreneurs to lay the foundation for repeatable, scalable sales. MATH's first fund made 16 venture investments including Acorns, Apervita, BuiltIn, Cardflight, EatStreet and SpotHero. 

About MATH Venture Partners
MATH Venture Partners is an early-stage venture capital fund managed by an experienced team of hands-on technology investors and operators. The fund invests in digital technology companies demonstrating a competitive advantage in acquiring and retaining customers. MATH Venture Partners has more than three dozen companies in its portfolio, including Acorns, BuiltIn, Cardflight, ChefHero, Chowly, EatStreet and SpotHero. For more information visit, http://www.mathventurepartners.com/.

CIOReview Names Apervita a Top 10 Most Promising Healthcare Tech Startup for 2019

Apervita announced today it was selected by CIOReview as a top 10 most promising healthcare tech startup for 2019. Apervita is a healthcare cloud platform that allows enterprises to easily and quickly build applications for a wide array of clinical, financial, and operational use cases. In 2018, the startup onboarded nearly 1,000 hospitals to its platform, with over 3,000 expected by the end of 2019.

CardFlight Drives Small Business Payments Space Forward with Introduction of SwipeSimple Terminal

NEW YORK, NY, April 16, 2019 – CardFlight, the leading SaaS payment technology company, today unveiled SwipeSimple Terminal, the expansion of their signature software to the smart terminal payment space. Designed to change and enhance the way small businesses process payments and handle other key related services, SwipeSimple Terminal will bring simple, reliable payment acceptance to even more small businesses than before. By integrating CardFlight’s industry-leading software, SwipeSimple Terminal offers the payment acceptance and software management tools that over 50,000 small businesses already rely on, via an enhanced, intuitive and easy-to-use format that resellers are familiar with and can

Healthcare Tech Outlook Names Apervita a Top 10 Artificial Intelligence Solution Provider for 2019

CHICAGO, IL — April 3, 2019 — Apervita announced today it was selected by Healthcare Tech Outlook Magazine as a top 10 artificial intelligence solution provider for 2019. Apervita is a healthcare cloud platform that allows enterprises to easily and quickly build analytic & data applications for a wide array of clinical, financial, and operational use cases. Along with numerous other healthcare-specific tools, Apervita allows artificial intelligence (AI) and machine learning (ML) to be embedded into any application.

12 Chicago VCs You Should Know About

Chicago is quietly becoming a hotbed of venture capital that fuels technology startups — not just in Chicago but across the country and in a wide range of industries. For example, did you know that Calm, SpaceX, and Coinbase all received funding from Chicago VCs? There are dozens of top VCs in the area that anyone in the startup world should know about, especially those in healthcare, marketplaces, and logistics.

Review: Jiobit Location Monitor

Every kid is different. Some remain still, focused and content with their books or Legos. Others get on a sled, immediately rocket into a snowy woods, and disappear for days on end. (Just kidding.) (Kind of.)

As a parent, it can be hard to know when to grab your children and when to pull back. But on a recent sunny, Saturday morning, in a mostly empty park, I decided to try something different. When my four-year-old took off down the trail, I resisted the urge to sprint after her. Instead, I opened the Jiobit app and turned on Live Mode.

Apervita Announces Record Growth Year, Adds to Executive Team

This article was originally published on Apervita.com.

Pioneering Healthcare Platform-as-a-Service Now Connected to Approximately 1,000 Hospitals, Grows Annual Recurring Revenue More Than 1,000%

CHICAGO, Feb. 7, 2019 /PRNewswire/ — Apervita, Inc., the nation’s first healthcare cloud platform, today announced that it ended 2018 serving approximately 1,000 hospitals and is on track to support more than 3,000 hospitals by the end of 2019.  At the same time, the company has doubled the number of applications built on its platform.  This rapid market adoption led to a 1,000% growth in annual recurring revenue for the year ending in December 2018.

Healthcare stakeholders are looking to reduce costs across the board while improving clinical outcomes and operational efficiency.  However, maintaining hundreds of separate point IT solutions in support of these cost reduction efforts is hugely costly and ultimately unsustainable.  At the same time, government bodies like The Centers for Medicare and Medicaid Services and other industry associations are driving their customers and members to adopt electronic computable specifications.

Apervita’s secure, massively scalable Platform-as-a-Service (PaaS) allows healthcare stakeholders to build, connect and transact in the cloud across three main areas: quality performance, clinical pathways and data sharing.  As a result, costs for stakeholders using Apervita are 70-80% less expensive than maintaining numerous point solutions. Additionally, stakeholders have complete control of their information, allowing them to share only what they need to, and avoid technical, business and privacy issues associated with legacy data sharing processes.

“The healthcare industry is at a digital inflection point,” said Apervita President Ken Jakobsen. “All stakeholders are looking to more fully leverage their IT spend and operations.  We are leading the transformation effort from individually developed, maintained and paid for software solutions, to those developed on a cloud platform.  The market’s rapid adoption of our platform is a testament to its powerful value proposition and is analogous to experiences in other industries.”

To help direct and further accelerate its growth, Apervita also announced that industry veteran Kevin Weinstein has been named Chief Growth Officer. Weinstein has a proven track record of scaling high-growth healthcare enterprises. Prior to Apervita, he most recently served as CEO of Analyte Health. His other experience includes Chief Growth Officer at Valence Health (acquired by Evolent), and executive positions at ZirMed (acquired by Bain Capital) and Allscripts.

“We are fortunate to have someone with Kevin’s background of successfully building and scaling healthcare startups to drive value for our customers,” Apervita founder and CEO Paul Magelli said. “Kevin will add tremendous value as we cement our position as the industry-leading healthcare cloud platform.”

“I’ve worked in healthcare for two decades and have never seen this type of opportunity,” said Weinstein. “The growth Apervita experienced in 2018 is clearly just the tip of the iceberg. I’m excited to bring the power of Apervita’s cloud platform to an ever-increasing group of healthcare customers and partners. Apervita is a true game changer in improving outcomes and lowering costs across the entire healthcare ecosystem.”

About Apervita:

Apervita, Inc. is the first healthcare Platform-as-a-Service (PaaS) that allows providers, payers and the health enterprises that support them to easily build and share applications that decrease cost, improve patient and clinician experience, and improve outcomes. With Apervita, health enterprises can collaborate freely and securely within and outside of their organizations, streamlining, standardizing and auditing quality measures, operational metrics and care pathways. Apervita is used by approximately 1,000 hospitals nationwide.

Fast facts:

  • Healthcare Platform-as-a-Service

  • Founded 2012

  • Headquarters Chicago, IL

  • Approx. 1,000 hospitals connected

  • Customers in all 50 states

  • Gartner Cool Vendor

  • First company to offer Clinical Quality Language execution services

Life Sciences AI Company rMark Bio Raises $1.5 Million In Seed Funding

This article was originally published on PRNewswire.

CHICAGO, Feb. 7, 2019 /PRNewswire/ -- rMark Bio, which delivers AI solutions that accelerate innovation and scientific discoveries for life sciences companies, recently closed $1.5 million in growth funding. Lincoln Park Capital led the Seed funding along with support from investors M25 Group, SaaS Ventures and MATH Venture Partners.

"We appreciate that investors recognize our unique value proposition. Our ability to help accelerate innovation, especially in highly complex life sciences fields such as therapeutic development, by effectively analyzing and aligning internal and external data with their business strategies, means we help them bring their data to life for the ultimate benefit of patients," said Jason M. Smith, rMark Bio co-founder and CEO. "This vital funding ensures we are able to expand our ability to bring our end-to-end intelligence solutions to companies that want to harness the transformative power of their data but struggle with how to make it a reality."

With the close of investment, MATH Venture Partners Managing Director Mark Achler joined rMark Bio's Board of Directors. "I'm excited to be part of an AI venture that can help accelerate discovery and innovations within the life sciences and the healthcare industry," said Achler. "Jason and his team understand how to build AI in order to help define and deliver data-driven insights."

The funding will be used to grow rMark Bio through market expansion, enable the hiring of key personnel and support rMark Bio's transition into its new headquarters office at 440 N. Wells in Chicago.

Fabric, rMark Bio's patented platform, is an end-to-end AI solution that accelerates innovation and scientific discoveries for life sciences companies by fostering awareness and collaboration. The Fabric platform employs several key capabilities in a three-step process:

  1. It enables automated aggregation and preparation of data for machine learning.

  2. Neural networks are trained to analyze data and surface scientific insights and discoveries.

  3. Fabric's APIs integrate with existing apps to deliver insights.

Specifically, Fabric is trained to understand petabytes of life sciences unstructured text, videos, voice, proteomics, genomic and free form data from existing business applications such as Microsoft™, Salesforce™ and Veeva™ along with third party data sources from IQVIA™ and Symphony Heath™.  Working in unison, Fabric's neural networks surface the most relevant insights and discoveries based on each department or user's specific business needs, without the cost of multiple systems.

Fabric currently is licensed and deployed in several top-20 pharmaceutical companies who are benefitting from savings with its unified data intelligence solution. For example, rMark Bio is saving one customer millions of dollars during the next 12 months compared to what it would have spent for traditional SaaS or consulting services.

"Ahead of that customer's product launch, the Fabric platform provided its marketing department and commercial sales leadership with one-click access to real-time, compliant and, most importantly, relevant target lists," said Smith.

About rMark Bio
rMark Bio, Inc. was created to transform the life sciences and pharmaceutical industries by making artificial intelligence simple to adopt, easy to use and continuously transformative through a holistic approach incorporating strategy, technology and people power. Founded in 2015 by Jason M. Smith, CEO, and Lev Becker, Ph.D., Chief Scientist, rMark Bio is based in Chicago and Seattle. rMark Bio provides services to the top 20 pharmaceutical companies globally and has partnered with industry-leading technology and healthcare organizations, including Microsoft, nVidia, Apigee/Google, and MATTER.