Zipnosis, a Minneapolis, MN-based provider of a virtual care solution, raised $17m in Series A funding.
The round was led by Safeguard Scientifics, Inc. (NYSE:SFE) with participation from Ascension Ventures, a subsidiary of Ascension, a large non-profit and Catholic health system as well as existing investors Fairview Health Services, Hyde Park Venture Partners, Arthur Ventures, Waterline Ventures and Omphalos Ventures. In conjunction with the funding, Al Wiegman, Managing Director, Healthcare at Safeguard, will join Zipnosis’ Board of Directors.
The company intends to use the funds to expand sales and marketing efforts and to accelerate product development.
Led by Jon Pearce, co-founder and CEO, Zipnosis allows health systems to launch their own branded virtual care service line staffed with their own clinicians. The company’s white-labeled software solution guides health systems through clinical, marketing, compliance and operations workflows, integrates with their electronic medical record and patient portal, and allows them to serve both existing and new patients.
Zipnosis’ platform mimics an in-person interaction between clinician and patient, gathering the necessary information for diagnosis and providing clinicians with appropriate treatment options. The patient can log into the health system’s branded virtual care site and completes a short online interview that gathers information about their condition. Then, an algorithm of triage tools sends the interview to the appropriate clinician within the health system for diagnosis and treatment. The clinician is presented with structured information, can triage the patient with a phone or video visit for more information, if needed, and can e-prescribe medication to be sent to the patient’s pharmacy of choice. The patient receives a response in under an hour.
The company currently works with approximately 17 health system customers including Fairview Health Services, University of Alabama-Birmingham, Group Health, and John Muir Health, offering virtual care for more than 90 conditions. It is also expanding into chronic care conditions.