Verto Health, a Toronto-based provider of connection and communication software for the healthcare industry, has closed a C$2 million seed-stage financing. MaRS Investment Accelerator Fund led the round. It was joined by Verstra Ventures, Amplify Capital and angel investors in the digital health sector.
TORONTO–(BUSINESS WIRE)–Verto Health, a leader in connection and communication software for the healthcare industry, announced today it has raised a $2.0M seed round led by MaRS Investment Accelerator Fund in conjunction with Verstra Ventures, Amplify Capital and strategic angel investors in the digital health space.
The Verto platform, based on digital twin technology, leverages smart integrations to connect hospital information systems (HIS), electronic medical records (EMR), laboratory information systems (LIS) as well as devices and mobile app data, making it easier to access relevant information appropriate to a patient’s current stage of care. It debunks decades-old myths that healthcare data connectivity and data sharing need to involve complex, time-consuming and expensive integration work.
More than 50 hospitals, clinics and long-term care facilities use the Verto platform, which demonstrates the values of delivering improved patient outcomes and patient experience, while significantly reducing healthcare provider administration and costs.
“Healthcare is undergoing a rapid shift away from ‘one-size-fits-all’ experiences towards a future where the best patient outcomes are personalized and specific to each of us,” said Craig Leonard, Senior Investment Director, MaRS Investment Accelerator Fund. “We’re excited to support Michael Millar and the Verto Health team as they create a world where every person can reach their best personal health outcome.”
Matan Hazanov, Vice President of Verstra Ventures added, “What piqued our interest in Verto was its ability to address the decades-old interoperability and care coordination problems in healthcare without modifying existing EMRs or workflows. We look forward to supporting Verto in disrupting the healthcare technology industry with little disruption to its customers.”
“Digital twin technology has been deployed in other industries to improve data sharing, interoperability and efficiency and I was confident that similar technology could be applied to the healthcare sector,” said Michael Millar, CEO, who founded Verto Health after 15 years working in healthcare information technology. “COVID-19 has only accelerated digital transformation in healthcare, so we looked to partner with leading investors to support our rapid growth.”
To learn more about Verto Health, please visit https://goverto.com.
About Verto Health
Verto Health is a team of passionate healthcare informaticians and technologists working to use digital twin technology to revolutionize interoperability, health delivery efficiency and cross-sector collaboration with the ultimate goal of dramatically improving patient outcomes and the patient experience, all while significantly reducing administration and healthcare organization costs.
About MaRS Investment Accelerator Fund
MaRS Investment Accelerator Fund (IAF) is an early stage venture capital firm based in Toronto. Since 2008, we have partnered with over 150 founders building world-class companies. For more information, please visit http://marsiaf.com.
About Verstra Ventures
Verstra Ventures invests in exceptional founders who are building enduring software companies. Through its capital, network and extensive knowledge of best practices, Verstra Ventures help its portfolio companies scale in a fast, sustainable way. For more information, please visit: verstraventures.com.
About Amplify Capital
Amplify Capital is a Toronto based Canadian based impact technology venture fund investing in early stage ventures focused on solving long term challenges in health, education and the environment. These sector challenges align with the UN Sustainability Goals of #3 Good Health, #4 Quality Education, and #13 Climate Action. Amplify Capital seeks to amplify capital beyond financial returns to drive significant social and environmental outcomes in addition to market risk adjusted venture returns. We measure and set quantitative goals for both financial and impact returns. To learn more visit us at www.amplifycapital.ca