Today, UptimeHealth, a health technology company that simplifies medical device service through automation and predictive analytics, announced a Series A capital raise of $4.5 million. The raise was co-led by Caduceus Capital Partners and Wavemaker Three-Sixty Health (Wavemaker 360) and will support plans to accelerate growth and expansion in the healthcare services market.
Healthcare is rapidly moving away from hospitals closer to people’s homes, a shift that is spurred by advances in technology, new regulations, value-based payment models and consumer demand. UptimeHealth was created to support this transformation. UptimeHealth’s software platform provides administrators and operators of healthcare facilities with the ability to manage compliance tasks, predict equipment repair and replacement needs, and tap into the largest network of qualified biomed technicians to service medical devices.
“The teams at Caduceus Capital Partners and Wavemaker 360 have deep healthcare industry expertise, and we’re fortunate to have their partnership and guidance,” said Jinesh Patel, co-founder and CEO, UptimeHealth. “We have built a lot of momentum in recent months and look forward to serving even more clients in 2023.”
Founded in 2020, Caduceus Capital Partners invests in early-stage digital health companies that can make a significant impact on healthcare by expanding access, improving patient outcomes, reducing costs and enhancing the daily working lives of care providers.
“At Caduceus Capital Partners, we follow a rigorous selection process to source the right companies for investment. Having known the UptimeHealth team for several years, we are confident in their business model and mission,” said Dave Vreeland, senior managing partner, Caduceus Capital Partners. “By offering a simple and effective way to optimize equipment management, UptimeHealth is enabling higher-quality, lower-cost care in outpatient settings.”
Wavemaker 360 is a seed-stage healthcare venture fund focused on disruptors in the areas of health-tech, digital health, medical device, telehealth, artificial intelligence, pharma-tech, science and marketplaces. The fund has a robust portfolio of healthcare companies and a proven track record of growing companies from early-stage ideas to large-scale global businesses.
“We invest in entrepreneurs that are making a dent in the healthcare universe,” said Jay Goss, general partner at Wavemaker 360. “UptimeHealth offers a revolutionary service that is in demand throughout the growing outpatient sector and will enable better patient experiences and outcomes. We look forward to this partnership and working alongside them in their growth journey.”
Goss and Eric Thrailkill, venture partner with Caduceus Capital Partners, will serve on UptimeHealth’s board of directors.
About Caduceus Capital Partners
Caduceus Capital Partners is a venture capital and private equity company focused on early-stage digital health investments. The Caduceus Capital Partners investment model actively supports portfolio companies from the first check to the exit phase with operational expertise and network access to potential customers and partners. For more information and investment interest, follow on LinkedIn and visit www.caduceus.vc.
About Wavemaker Three-Sixty Health
Wavemaker Three-Sixty Health (Wavemaker 360) is the nation’s leading seed-stage healthcare pure-play venture fund, focused singularly on early-stage healthcare disruptors in the areas of health-tech, digital health, medical device, telehealth, pharma-tech, science and marketplaces. Wavemaker 360 stands apart as one of the few venture funds in the U.S. that discovers, vets and invests solely in healthcare startups at the seed funding stage. The fund connects its portfolio companies to a network of 300 Limited Partners (LPs), comprised of healthcare organizations and executives in virtually every area of healthcare. Headquartered in Pasadena, CA, Wavemaker 360 is led by a cross-functional, bi-coastal team of eight visionary partners, with additional guidance from a distinguished Council of Strategic Advisors. For more information, follow on LinkedIn and visit www.wavemaker360.com.
UptimeHealth, headquartered in Boston, is a software company focused on providing healthcare administrators and operators with simple-to-use software to manage compliance tasks, improve access to actionable data to increase operational efficiencies, and tap into the largest network of qualified biomed technicians to support their medical devices. For more information visit www.uptimehealth.com.