The fund will be used to expand operations
The healthcare start-up BurstIQ which base its business catering healthcare industry issues through blockchain services. The firm with Elsewhere Partners has sealed the deal for 5.5 million dollars funding through a Series A capital raise. The new funds will be used for financing sales, marketing, and network operations for cumulative growth.
Denver-based BurstIQ, which was founded back in 2015, has been garnering millions in annual earning. The profit is due to the commercial partnership with well-known names in healthcare such as Empiric Health, Medical Group Management Association, and the Colorado Regional Health Information Organisation. This is the first big institutional funding of the firm.
Initiated by Brian Jackson and Frank Ricotta, BurstIQ established itself as an enterprise-level blockchain service provider since 2015. The firm provides HIPAA and GDPR compliant platform that smoothly utilizes blockchain technology, advanced security, Big Data, and machine intelligence to allow international health data network which can be accessed by other healthcare businesses and people for information about their health. The healthcare institutions, insurers, life science, and government use platform-as-a-service to get their problem sorted out.
The new opportunities will be unraveled
BurstIQ is the pioneer in blockchain services in the healthcare sector. As of now, it is the only one that provides HIPAA-compliant blockchain services for on-chain data management, complex data ownership, and granular consent. Elsewhere, a capital venture firm decided to invest in BurstIQ due to the top of the rack blockchain services which have strong traction in the market and attract marquee enterprise customers which opens up new opportunities.
Frank Ricotta, CEO of BurstIQ said, “Elsewhere Partners shares our vision of enabling a people-centric future for healthcare, and we are proud to have them as an investment partner. Their partnership will allow us to grow exponentially, both in the US and globally.”