MedcurityThe Spokane, Washington-based startup, which makes it easier for health organizations to comply with federal data protection and security laws, raised another $ 200,000 through a seed capital round of funding.
The additional money from the Washington Research Foundation comes from Medcurity's Overall for the round to $ 737,500.
Amanda Hepper, co-founder of the startup along with Joe Gellatly and start in December 2018, said the additional investment will be used to increase Medcurity's presence in digital marketing and to add HIPAA security and privacy training to the offering.
As a health tech company in the midst of a global pandemic, Medcurity knows that its customers are focused on this struggle while others are concerned with HIPAA compliance.
BEFORE: Medcurity collects money to be the TurboTax for compliance with federal health law
"We serve the health community, including hospitals and medical practices that are at the forefront of the COVID-19 pandemic," said Hepper. "Many are 100 percent focused on tackling COVID with fewer staff."
Hepper said medcurity saw a slight decline in business, but many companies use this time to deal with HIPAA reviews and guidelines.
According to a 2019 GeekWire launch report, Medcurity's approach is similar to that of TurboTax, the online tax processing tool. The product guides users through a series of questions that assess the administrative, physical, and technical risks that a company may be exposed to. Based on these responses, action items are created that can be assigned to people within the organization and tracked over time.
Medcurity has six employees and plans to hire a CISO, web developer, and sales representative over the next few months.
Update, Wednesday, July 15, 8 a.m.PT: Medcurity's funding success continues with an investment of $ 500,000 from the SeaChange Fund. Hepper said the additional money will be used to expand sales and marketing efforts. The startup has added a chief information security officer, sales manager and five interns, bringing the total number of employees to 13. Additional funds will also be used to expand the Medcurity platform to include HIPAA security and privacy training for healthcare organization employees and compliance officers.
“Susan Preston, managing partner of SeaChange, said about Medcurity that they meet huge market requirements for HIPAA compliance with their platform. “We were impressed by their ability to listen to health organizations of all sizes and to address their HIPAA vulnerabilities systematically by providing thoughtful compliance tools, resources and guidance. Our team believes that this solution is needed now! "