Medivo Raises $7M in Series A Funding Round Led by Safeguard Scientifics

Health care IT company Medivo in New York raised $7 million in a Series A funding round led by Safeguard Scientifics (NYSE: [[ticker:SFE]]) in Wayne, PA according to a press release issued Thursday. Medivo, founded in 2010, provides a platform for data analytics and connects lab testing services with physicians and patients. According to the press statement, the new funding will go toward product development, sales, and marketing.

Patients can use Medivo’s online platform to become better educated about their lab results. Medivo’s platform also relays information to primary care physicians and identifies patients who need testing services. Prior to Medivo, co-founder and CEO Sundeep Bhan co-founded Medsite, an interactive medical education and physician recruitment company which was sold in 2006 for $41 million to WebMD (Nasdaq: [[ticker:WBMD]]).

Author: João-Pierre S. Ruth

After more than thirteen years as a business reporter in New Jersey, João-Pierre S. Ruth joined the ranks of Xconomy serving first as a correspondent and then as editor for its New York City branch. Earlier in his career he covered telecom players such as Verizon Wireless, device makers such as Samsung, and developers of organic LED technology such as Universal Display Corp. João-Pierre earned his bachelor’s in English from Rutgers University.