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MedNetworks raises $5M

Mon, 08/09/2010 - 6:38am
Mass High Tech: The Journal of New England Technology

MedNetworks Inc., a social networking-focused technology firm for doctors and patients, has launched today, taking in $5 million in its first funding round from Excel Venture Management.

The Newton-based startup provides technology for analyzing real-life social networks of doctors and patients and mapping out “patterns of influence.”

“This knowledge will empower our clients to leverage existing data to disseminate information and focus interventions more efficiently, rapidly, and effectively,” said Nicholas Christakis, a Harvard University professor, in a press release.

Christakis developed the healthcare-focused social network analytics technology that is licensed exclusively to MedNetworks.

MedNetworks uses the mapping and analysis technology with information related to administrative and communications data, and identifies trends and forecasting in areas of healthcare.

Boston-based Excel Venture Management started its first fund, the Excel Medical Fund in 2009, with the intention of financing both early and late-stage life science firms with the $125 million currently raised for the fund.

 

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