Dec
09
2020
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HealNow raises $1.3 million to bring online payments to pharmacies

As the health tech landscape rapidly evolves, another startup is making its presence known. HealNow has closed a $1.3 million round of funding from SoftBank Opportunity Fund and Alabama Futures Fund.

The company was founded by Halston Prox and Joshua Smith. Prox has worked in healthcare for more than a decade with major organizations such as Providence Health, Mount Sinai and Baylor Scott & White, mostly focused on digitizing health records and designing and implementing software for doctors, nurses, etc. Smith, CTO at the company, has been a developer since 2012.

The duo founded HealNow to become the central nervous system for order and delivery of prescriptions, according to Prox. Your average payments processing system isn’t necessarily applicable to pharmacies large and small because of the complexities of health insurance and the regulatory landscape.

Not only is it costly to facilitate online payments for pharmacies, but they also have their own pharmacy management systems and workflows that can be easily disrupted by moving to a new payments system.

HealNow has built a system that’s specifically tailored to pharmacies of any shape or size, from grocery stores to mom and pop pharmacies and everything in between. It’s a white label solution, meaning that any pharmacy can put their brand language on the product.

“We’re embedded in their current workflows and pharmacies don’t have to do anything manual, even if they’re using a pharmacy management system,” said Prox.

When a user looks to get a prescription from their pharmacy, they are sent a link that allows them to securely answer any questions that may be necessary for the pickup, enter insurance info, make a payment and schedule a curbside pickup or a delivery. The tech also integrates with third-party delivery services for pharmacies that offer deliveries.

This technology has been particularly important during the COVID-19 pandemic, giving smaller pharmacies the chance to compete with bigger chains who have digital solutions already set up that allow for curbside pick up. This is especially true now that Amazon has gotten into the space with the launch of Amazon Pharmacy.

HealNow is a SaaS company, charging a monthly subscription fee for use of the platform, as well as a service fee for prescriptions purchased on the platform. However, that service fee is a flat rate that never changes based on the cost of the prescription.

The space is crowded and growing more crowded, with competitors like NimbleRX and Capsule offering their own spin on simplifying and digitizing the pharmacy. One big difference for HealNow, says Prox, is that the startup has no intention of ever being a pharmacy, but rather serving pharmacies in a way that doesn’t disrupt their current workflow or system.

“We’re not a pharmacy, and we want to enable all these pharmacies to be online,” said Prox. “To do that we have to do that in an unbiased way by focusing on being a complete tech company.”

The funding is going primarily toward building out the sales and marketing arms of the company to continue fueling growth. HealNow has a foothold in the West, Southwest and Middle America, and is opening an office in Birmingham to sprint across the East Coast. Prox says the company is processing thousands of orders a day and tens of thousands of orders each month.

HealNow launched in 2018 after graduating from the Entrepreneurs Roundtable Accelerator .

Nov
16
2020
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Undock raises $1.6M to help solve your group scheduling nightmares

Over the past decade, many startups have tried (and many have failed) to rethink the way we schedule our meetings and calls. But we seem to be in a calendrical renaissance, with incumbents like Google and Outlook getting smarter and smarter and newcomers like Calendly growing significantly.

Undock, an Entrepreneurs Roundtable Accelerator-backed startup, is looking to enter the space.

The startup recently closed a $1.6 million seed round with investors that include Lightship Capital, Bessemer Venture Partners, Lerer Hippeau, Alumni Ventures Group, Active Capital, Arlan Hamilton of Backstage Capital, Sarah Imbach of PayPal/LinkedIn and several other angel investors.

For now, Undock is a Chrome extension that allows users to seamlessly see mutual availability across a group, whether or not all users in the group have Undock, all from within their email. Founder and CEO Nash Ahmed wouldn’t go into too much detail about the technology that allows Undock to accomplish this. But, on the surface, users who don’t yet have Undock can temporarily link their calendar to the individual meeting request to automatically find times that work for everyone in the group. Otherwise, they can see the suggested times of the rest of the group and mark the ones that work for them.

This is just the beginning of the journey for Undock. The company plans to launch a full-featured calendar in Q1 of 2021, that would include collaborative editing right within calendar events, and embedded video conferencing.

According to Ahmed, the most important differentiating features of Undock are that it focuses on mutual availability (not just singular availability) and that it does so right within the email client.

Image Credits: Undock

Scheduling will always be free within Undock, but the full calendar (when it’s released publicly) will have a variety of tiers starting at $10/month per user. Undock will also borrow from the Slack model and charge more for retention of information.

“The greatest challenge is definitely customer education,” said Ahmed, explaining that early on some users were confused by the product’s simplicity. “We messaged it by saying it’s like autocomplete. And early users would get into their email and then ask what to do next, or if they had to go back to Undock or to the Chrome extension. And we’d have to say ‘no, just keep typing.’ ”

The Undock team, which is Black and female-founded, numbers 18 people; 28% of the team is female, 22% are Black and 11% are LGBTQ, and the diversity of the leadership team is even higher.

Jul
07
2020
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Nayya, bringing transparency to choosing and managing healthcare plans, raises $2.7 million

Entrepreneurs Roundtable Accelerator -backed Nayya is on a mission to simplify choosing and managing employee benefits through machine learning and data transparency.

The company has raised $2.7 million in seed funding led by Social Leverage, with participation from Guardian Strategic Ventures, Cameron Ventures, Soma Capital, as well as other strategic angels.

The process of choosing an employer-provided healthcare plan and understanding that plan can be tedious at best and incredibly confusing at worst. And that doesn’t even include all of the supplemental plans and benefits associated with these programs.

Co-founded by Sina Chehrazi and Akash Magoon, Nayya tries to solve this problem. When enrollment starts, employers send out an email that includes a link to Nayya’s Companion, the company’s flagship product.

Companion helps employees find the plan that is right for them. The software first asks a series of questions about lifestyle, location, etc. For example, Nayya co-founder and CEO Chehrazi explained that people who bike to work, as opposed to driving in a car, walking or taking public transportation, are 20 times more likely to get into an accident and need emergency services.

Companion asks questions in this vein, as well as questions around whether you take medication regularly or if you expect your healthcare costs to go up or down over the next year, without getting into the specifics of chronic ailments or diseases or particular issues.

Taking that data into account, Nayya then looks at the various plans provided by the employer to show you which one matches the user’s particular lifestyle and budget best.

Nayya doesn’t just pull information directly from the insurance company directory listings, as nearly 40% of those listings have at least one error or are out of date. It pulls from a broad variety of data sources, including the Centers for Medicare and Medicaid Services (CMS), to get the cleanest, most precise data around which doctors are in network and the usual costs associated with visiting those doctors.

Alongside Companion, Nayya also provides a product called “Edison,” which it has dubbed the Alexa for Helathcare. Users can ask Edison questions like “What is my deductible?” or “Is Dr. So-and-So in my network and what would it cost to go see her?”

The company helps individual users find the right provider for them with the ability to compare costs, location and other factors involved. Nayya even puts a badge on listings for providers where another employee at the company has gone and had a great experience, giving another layer of validation to that choice.

As the healthtech industry looks to provide easier-to-use healthcare and insurance, the idea of “personalization” has been left behind in many respects. Nayya focuses first and foremost on the end-user and aims to ensure that their own personal healthcare journey is as simple and straightforward as possible, believing that the other pieces of the puzzle will fall into place when the customer is taken care of.

Nayya plans on using the funding to expand the team across engineering, data science, product management and marketing, as well as doubling down on the amount of data the company is purchasing, ingesting and cleaning.

Alongside charging employers on a per seat, per month basis, Nayya is also looking to start going straight to insurance companies with its product.

“The greatest challenge is educating an entire ecosystem and convincing that ecosystem to believe that where the consumer wins, everyone wins,” said Chehrazi. “How to finance and understand your healthcare has never been more important than it is right now, and there is a huge need to provide that education in a data driven way to people. That’s where I want to spend the next I don’t know how many years of my life to drive that change.”

Nayya has five full-time employees currently and 80% of the team comes from racially diverse backgrounds.

Feb
11
2020
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Negotiatus, looking to help businesses optimize purchasing, raises $10 million

Negotiatus, a SaaS business meant to optimize and streamline the purchasing and procurement process for businesses, has today announced the close of a $10 million Series A round.

The funding was led by Rally Ventures, with participation from ERA, 645 Ventures, Green Visor Capital and Stage 2 Capital. This brings the company’s total funding to nearly $20 million.

Negotiatus was founded by Zach Garippa and Tom Jaklitsch with an idea to detangle the process of purchasing supplies for a business. Garippa told TechCrunch that most solutions to this problem focus on one piece of the puzzle, serving finance or operations or the purchasers themselves, but ultimately making the process more difficult for the other functions in the business.

Negotiatus pulls all of those stakeholders into a single platform where they can shop, place orders, track delivery information and manage spend all from one place.

For example, finance departments often have to manually review and remit payment for thousands of invoices a month, normally across at least several vendors and various formats. Negotiatus allows the finance department to view all of that in a weekly or monthly invoice.

Before Negotiatus, purchasers had to cross-reference approved brands, vendors and products each time they needed a new set of pens or toilet paper, jumping from one website to another and tracking shipments across multiple websites. Negotiatus scrapes your past purchase history to show purchasers what they want in a single place. And, of course, users can track those products directly from the Negotiatus dashboard.

Operations can centralize order requests and approvals within the Negotiatus platform, and leverage analytics provided by the company to make better purchasing decisions. Negotiatus scrapes the SKUs themselves, across vendors, to make sure that businesses are making the smartest possible decision with their budget.

The company says that it takes less than a day to get going on the platform.

Negotiatus generates revenue in two ways. The first is a regular subscription model that charges on a monthly basis for each location on the platform. The second is based on spend volume on the platform (which comes from the vendor side).

Thus far, Negotiatus has 300 customers, with a particular popularity among health and wellness businesses (SoulCycle, Orangetheory, CorePower Yoga) and co-working businesses (WeWork, Zeus, Domio). The company hopes to soon expand beyond physical products into software services.

Jul
25
2019
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Airbud raises $4 million to add a voice interface to your website

Amazon’s Alexa ushered in a new dawn of user interfaces, bringing voice into the mix as a viable option. Dozens of companies have sprouted because of this, not least of which being Airbud.io.

Airbud allows any company to add a voice interface to its website. The company just closed a $4 million round led by Hanaco Ventures, with participation from ERA and Spider Capital.

Airbud was co-founded by Israel Krush, Uri Valevski and Rom Cohen after the team saw the growth of voice interfaces and wondered how to capitalize on it.

By allowing companies to add voice/chat bot utility to their websites, Airbud hopes to increase retention of end-users on sites and give them easier access to the information they seek. Krush says that Airbud is focusing on websites that you have to be on, rather than the ones you want to be on.

That means Airbud clients are mostly in the healthcare space and travel space, helping end-users find a physician or book a flight using their voice.

Most importantly, Airbud operates on a plug and play system, meaning that clients don’t have to do the usual heavy lifting involved in creating a chat bot. Most of the time, folks who implement chatbots have to build a conversation tree. Airbud uses existing information scraped from the website, paired with an easy plug-and-play system for clients, to automatically build out a knowledge graph and have conversations with end-users.

Airbud charges based on the number of indexed pages and traffic to those pages.

The company plans to use the funding to increase the size of its team from seven to 15.

Mar
29
2019
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User Interviews, a platform for product feedback, raises $5 million

It’s not uncommon to hear CEOs and business leaders talk about focusing on the consumer. But the only way to build for the consumer is to hear what they want, which can be a resource-intensive thing to retrieve.

User Interviews, an ERA-backed company out of New York, is looking to lighten that load with a fresh $5 million in seed funding from Accomplice, Las Olas, FJ Labs and ERA.

User Interviews actually started out as Mobile Suites, an amenities logistics platform for hotels. It was a dud, and the team — Basel Fakhoury, Dennis Meng and Bob Saris — decided to do far more user research before determining the next product.

In the process of talking to customers to understand their pain points, they realized just how difficult collecting user feedback could be.

That’s how User Interviews was born. The platform’s first product, called Recruit, offers a network of non-users that can be matched with companies to provide feedback. In fact, User Interviews’ first sales were made by simply responding to Craigslist ads posted by companies looking for non-users from which they could collect feedback.But because the majority of user research is based on existing users, the company also built Research Hub, which is essentially a CRM system for user feedback and research. To be clear, User Interviews doesn’t facilitate the actual interviews with users, but tracks the feedback, facilitates sending emails and ensures that no one from the research team is reaching out to a single user too often.

With Recruit, User Interviews charges $30/person that it matches with a company for feedback. Research Hub costs starts at $150/month.

“Right now, our greatest challenge is that our clients are the best product people in the world, and we have a huge pipeline of amazing ideas that are very valuable and no one is doing yet that our clients would love,” said CEO and cofounder Basel Fakhoury. “But we have to build it fast enough.”

No mention of what those forthcoming products might be, but the current iteration sure seems attractive enough. User Interviews clients include Eventbrite, Glassdoor, AT&T, DirecTV, Lola, LogMeIn, Thumbtack, Casper, ClassPass, Fandango, NNG, Pinterest, Pandora, Colgate, Uber and REI, to name a few.

Mar
14
2019
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ProdPerfect gets $2.6 million to automate QA testing for web apps

ProdPerfect, a Boston-based startup focused on automating QA testing for web apps, has announced the close of a $2.6 million Seed round co-led by Eniac Ventures and Fika Ventures, with participation from Entrepreneurs Roundtable Accelerator.

ProdPerfect started when co-founder and CEO Dan Widing was VP of engineering at WeSpire, where he saw firsthand the pain points associated with web application QA testing. Whereas there were all kinds of product analytics tools for product engineers, the same data wasn’t there for the engineers building QA tests that are meant to replicate user behavior.

He imagined a platform that would use live data around real user behavior to formulate these QA tests. That’s how ProdPerfect was born. The platform sees user behavior, builds and delivers test scripts to the engineering team.

The service continues to build on what it knows about a product, and can then simulate new tests when new features are added based on aggregated flows of common user behavior. This data doesn’t track any information about the user, but rather anonymizes them and watches how they move through the web app. The hope is that ProdPerfect gives engineers the opportunity to keep building the product instead of spreading their resources across building a QA testing suite.

The new funding will go toward expanding the sales team and further building out the product. For now, ProdPerfect simply offers functional testing, which uses a single virtual user to test whether a product breaks or not. But president and co-founder Erik Fogg sees an opportunity to build more integrated testing, including performance, security and localization testing.

Fogg says the company is growing 40 percent month over month in booked revenue.

The company says it can deploy within two weeks of installing a data tracker, and provide more than 70 percent coverage of all user interactions with 95 percent+ test stability.

“The greatest challenge is going to be finding people who share our company’s core values and are of high enough talent, ambition and autonomy in part because our hiring road map is so steep,” said Fogg. “Growing pains catch up with businesses as a team expands quickly and we have to make sure that we’re picky and that we reinforce the values we have.”

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