BurstIQ, a Colorado Springs, CO-based provider of a digital health data platform, raised a venture capital funding of undisclosed amount.
Colorado Springs based venture capital firm PV Ventures made the investment.
Led by Frank Ricotta, CEO, BurstIQ provides a digital health platform that allows users to collect structured and unstructured data across multiple disparate sources, to protect them, to interact with other frameworks and to assemble prescriptive analytics modules that adapt to behavior patterns and characteristics.
The company was spun-out of the health innovation program 10.10.10 powered by the Colorado Health Foundation.
BurstIQ Secures Investment Round
BurstIQ, the first company to spin-out of the recently held health innovation program 10.10.10 powered by the Colorado Health Foundation, has secured seed round funding from Colorado Springs based PV Ventures. BurstIQ is dedicated to creating a secure cloud platform to power the digital health revolution.
Colorado April 21, 2015
BurstIQ makes it possible for individuals and providers to quickly make sense of the deluge of data generated from digital health technologies. “The combination of sensors, mobile, and platform will make healthcare personal again, and it will also generate a lot of sensitive data,” said Frank Ricotta, BurstIQ CEO. “We believe data should be secure and private; that is our first priority. We also believe that the need for a highly secure platform shouldn’t limit the benefits and use of data. Data needs to be sharable, accessible, and usable. Insights derived from the data will drive individual empowerment, personalized care relationships, better outcomes, and reduced costs.”
“This is a game-changer for digital health data access and we believe that the innovative security features that are at the core of the product can extend beyond digital health, providing a foundational capability to protect an individual’s privacy. We are happy to welcome BurstIQ into our portfolio,” noted Bill Miller, Managing Director, PV Ventures.
“Health data is a ‘wicked problem’, one of 10 we selected for our inaugural 10.10.10 Health program this past February,” said Tom Higley, Founder and CEO of 10.10.10. “With the creation of BurstIQ, Frank becomes the first of our 10.10.10 CEOs to accept the challenge of developing a market-based solution to the health data problem. The market is crying out for an innovative and secure health data platform, and I believe the BurstIQ platform can be that solution. We are excited to be part of the company and look forward to helping make it a success.”
“The Colorado Health Foundation partnered with 10.10.10 as part of our efforts to explore an innovative philanthropic approach with the potential to spark market-based solutions to wicked problems in health,” said Jesse Wolff, Director of Private Sector Initiatives at the Colorado Health Foundation. “We are excited to see BurstIQ step up as the first company out of 10.10.10 to accept the challenge – and embrace the opportunity – that this problem represents.”
About BurstIQ (http://www.burstiq.com)
BurstIQ creates cloud solutions that liberate and protect health data, enable the rapid development of insights, and engage individuals in a smart and intelligent way while enforcing robust security and privacy protections. The BurstIQ digital health platform accelerates the creation of next generation digital health and patient engagement applications saving both time and cost. Our goal, create cloud solutions that help change the world and make it a healthier place.
About PV Ventures (http://www.pvventuresllc.com)
PV Ventures is venture capital firm that invests in seed and early-stage technology companies. We partner with entrepreneurs to help them turn great ideas into great companies. With offices located in Colorado Springs, the firm invests in companies primarily along Colorado’s Front Range with reach into other top venture markets.
About 10.10.10 (http://www.101010.net)
Founded by Colorado entrepreneur Tom Higley, 10.10.10 helps connect startup communities to thought leaders, entrepreneurs and investors throughout the country. 10.10.10 is . ..
● 10 Wicked Problems (with significant market opportunity)
● 10 Prospective CEOs (from all over the United States, each of them looking for their next big thing)
● 10 days spent together exploring marketable solutions that can form the basis for creating fundable companies
During the 10 days, these prospective CEOs connect with each other and with 10-20 Validators (for profit and nonprofit companies, thought leaders, researchers and others who understand the need and the market)
About the Colorado Health Foundation (http://www.ColoradoHealth.org)
The Colorado Health Foundation works to make Colorado the healthiest state in the nation by ensuring that all Colorado kids are fit and healthy and that all Coloradans achieve stable, affordable and adequate health coverage to improve their health with support from a network of primary health care and community services. To advance our mission, the Foundation engages the community through grant making, public policy, investing in evaluation, private sector partnerships and strategic communications.