Healthrageous, the creator of a multi-tiered personalized health management tool, raised $6 million in a Series A equity sale.
North Bridge Venture Partners of Boston led the round and was joined by fellow Boston-based firm Egan Managed Capital and Long River Ventures of Amherst, Mass.
According to an SEC filing all of the $6 million in equity made available was sold.
The company said proceeds from the deal will be used to commercialize a platform that provides personalized, interactive, motivational self-management tools that are designed to help users end unhealthy habits, improve their adherence to medical advice and embrace healthier lifestyles. The products combines wireless biometric sensors, smart phones, individualized coaching, incentive programs and social network support in a real-time. The Partners Healthcare spinoff, formerly named Hop Skip Connect, has technology based in part on the Partners blood pressure program SmartBeat.
According to MobiHealthNews.com Healthrageous's executive team includes Rick Lee, CEO, a healthcare executive specializing in specialty managed care, most recently president of Employer Solutions at Magellan Health Services, Inc.; Doug McClure, chief technology officer, who oversaw technology research and platform development for remote monitoring and patient self-management at the Center for Connected Health; Mary Beth Chalk, chief strategy officer, a healthcare strategist with multi-industry experience in consumer marketing and data-driven decision support systems, who previously served as a director of business development for Pfizer Health Solutions; and Kevin Naughton, CFO, who was previously head of finance at three venture-backed health IT start-up companies. They are all named on the company's SEC filing as executives.
Bill Geary of North Bridge, Jack Egan of EMC and Will Cowen of Long River all joined the company’s board of directors. Dr. Joe Kvedar, Founder and Director of the Center for Connected Health at Partners, is also named as a director on the SEC filing.