Axuall, a Cleveland, OH-based Real-time Digital ID & Credential Network, closed a $3m seed financing round.
The round was led by JumpStart, with participation from Zapis Capital Group, M25, North Coast Angel Fund, Kettledrum Ventures, and Drummond Road Capital.
The company intends to use the funds to hire additional software engineering and product personnel, conduct several large scale pilots, develop its partner network, and complete research and development for commercial release.
Led by CEO Charlie Lougheed, Axuall is a digital network for verifying identity, credentials, and authenticity in real-time to eliminate waste, prevent fraud, and manage risk in healthcare, financial services, manufacturing, government, and other industries where proof matters.
The company’s network enables healthcare providers to request and receive digitally signed credentials from primary sources that they can securely share with employers, health systems, and insurance plans. The Axuall network proactively monitors conditional events, such as expirations and dependencies, allowing practitioners to address issues the moment they arise. This means credentials will always be up-to-date, ready to present, and aligned with standards.