MedStack, a Toronto, Canada-based privacy and security compliance solution for healthcare apps, raised a $2.4m in seed funding.
The round was led by Telus Ventures, with participation from ScaleUP Ventures and Panache Ventures and existing investor Ontario Centres of Excellence and several existing angel investors. In conjunction with the funding, Telus Ventures and ScaleUP.
The company intends to use the funds for:
– channel development for the recently-launched MedStack Control, a system that brings real-time hands-on infrastructure control and more flexibility for client companies,
– expansion of the engineering, sales and support teams to enhance and support the platform’s capabilities, and
– earning additional third-party security certifications and attestations.
Co-founded in 2015 by CEO Balaji Gopalan and CTO Simon Woodside, MedStack is a cloud automation technology company that builds and manages healthcare privacy compliance into cloud hosting tools. The company now provides enhanced app hosting and actively managed compliance policies in several countries to over 50 healthcare app vendors in various spaces.