Rittenhouse Ventures is a Philadelphia-based, emerging-growth venture capital firm with a 15-year history of investing in technology businesses. We partner with entrepreneurs to deliver right-sized investments, deep expertise, strategic relationships, and successful financial outcomes.

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Partner from Investment to Exit

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Right Amount of Capital at the Right Time

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Repeatable Financial Returns

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Partnerships with Strategic & Regional Investors

Featured Investments

Core Solutions

  • Active Investment
  • Wayne, PA
  • Healthcare

Integrated behavioral health platform that provides comprehensive Electronic Health Record (EHR) capabilities for various behavioral health settings.

www.coresolutionsinc.com

Energage

  • Active Investment
  • Exton, PA
  • Human Resources - Employee Engagement

Software solutions that measure and improve employee engagement through ongoing workplace feedback tools and annual surveys.

www.energage.com

Vida Diagnostics

  • Active Investment
  • CoralviIle, IA
  • Healthcare — Precision Imaging Software

Precision Imaging platform for pulmonary applications in clinical trials and treatments, providing image analysis tor repeatable lung measurements and sophisticated software for lung bronchoscopy and volume reduction planning.

www.vidadiagnostics.com

GSI Health

  • Active Investment
  • Philadelphia, PA
  • HealthCare — Population Health Management

Patient care coordination platform, empowering providers and care teams to manage, analyze, and engage patients as they move through the care delivery system.

www.gsihealth.com

Tabula Rasa Healthcare

  • IPO (2016, NAS: TRHC) – Fully Realized
  • Moorestown, NJ
  • Pharmaceuticals — Medication Management

State-of-the-art medication management system, combining software and decision support tools that aim to decrease medication related risks, enhance compliance, increase quality of care, and improve medication outcomes.

www.tabularasahealthcare.com

Piano

  • Active Investment
  • New York, NY
  • Media & Advertising – Digital Media Subscriber Management

Software platform for the business management of digital media publishing, providing tools to magazines, newspapers, and new media companies to manage prospective and existing subscriber experiences.

www.piano.io

Latest News

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Rittenhouse News

May 8, 2023Excited to announce that I have taken on a new role as General Partner at Rittenhouse Ventures! I’m thrilled to have the opportunity to use my 20+ years of investing, operating, and advisory experience to continue supporting emerging growth companies. While a new platform for me, the strategy is almost identical to what I have pursued my entire career: invest in real businesses run by good people, deploy the right amount of capital at the right time, and invest in a way that aligns everyone involved. It is a simple, clear, and effective approach that has worked for me during booms, busts, and all the valleys in-between. The people part of this equation is equally important to me, and I’m energized by the opportunity to work with this team. Saul Richter and I have known each other for more than a decade, and half of that time was probably us trying to figure out how to get into business together. We see eye-to-eye on most things in investing and in life, although his misguided dedication to a Microsoft/Android ecosystem was almost a deal breaker. (It’s ok Saul, we will eventually help you see the light…) Sushma Rajagopalan is a global tech CEO with a wealth of experience in scaling companies and operations that perfectly complements our investing backgrounds. And Steve Holstad is unique as a CFO in his understanding of the intricacies of running both venture capital firms and the companies the invest in. I’m thrilled as well to be able to build a business here in the Greater Philadelphia region and continue to support entrepreneurship in our local ecosystem. Although consistently supplied with a wealth of great entrepreneurs, our region has yet to scale up its corresponding growth capital base. While Rittenhouse isn’t exclusively focused here, our location in the heart of Philly means we have some of the best and brightest in the country right at our doorstep. I’m expecting we will find lots of opportunity to fill that capital gap and propel our local startups to the next level. I’ve been a part of growing dozens of companies over the last several decades, but I don’t think I’ve ever been as excited to build a business as I am right now. Looking forward to what’s next! [...]
March 31, 2022Adam Boehler, former director of the Center for Medicare & Medicaid Innovation (CMMI), in partnership with venture capitalist firm, Martin Ventures, today announce their investment in StationMD, a healthcare company that uses telemedicine to deliver medical care to people with intellectual and developmental disabilities (I/DD). That includes individuals with autism spectrum disorder, Down syndrome, and cerebral palsy. Read on original publication The investment is part of a trend to back innovative home- and community-based care models that keep high-risk/high-cost populations out of the emergency room and hospitals, while cutting costs and improving health outcomes. “I’ve watched StationMD expand from serving 1,300 individuals in three states to 32,000 in 12 states and counting in just two years,” said Boehler. “Payers, patient advocates, and policymakers have been seeking solutions to close the health equity gap for vulnerable populations. I’m passionate about supporting companies like StationMD that leverage their expertise, specialization, and telehealth tools to improve the patient experience while improving the quality of care and reducing healthcare costs.” “We are making meaningful investments to expand healthcare to a population that has always been underserved. StationMD offers an unrivaled capability to tailor medical care to people with I/DD, and we are excited that our investment will help expand the service. It’s an important step to improving care for millions of people.” said Devin Carty, CEO of Martin Ventures. The pandemic has been a catalyst for increased telemedicine use and is deemed widely effective. For people with I/DD, the value of telemedicine is more pronounced as they struggle with chaotic emergency rooms, transportation, and finding specially trained doctors. They are often high ER utilizers, incurring significant health care costs as a result. StationMD provides alternative access to medical care for this population. StationMD clients have reported data that shows the service translates to better health outcomes and cost-savings into the millions. “Last year, StationMD doctors performed nearly 25,000 virtual consultations and resolved patients’ medical concerns 93 percent of the time, averting the need to travel to the ER or urgent care,” said Dr. Maulik Trivedi, cofounding doctor at StationMD. “We have consistently found that our specialized telemedicine service provides people with I/DD better care at a fraction of the cost of going to the ER.” The investment from Boehler and Martin Ventures is a strong signal to insurers to offer in-home care to members and encourage its use going forward to reduce costs. [...]
January 18, 2022CHICAGO–(BUSINESS WIRE)–Litera, a global leader in legal technology solutions, announced today it has entered into a definitive agreement to acquire Prosperoware, an enterprise software company for the adoption and governance of collaboration systems. The acquisition will enable teams within law firms collaborate more efficiently and securely when working in the office or from home. Read on original publication Founded in 2009, Prosperoware has developed the industry’s most comprehensive integrated software platform, bringing order to a hybrid workforce’s digital collaboration chaos. Prosperoware solutions provide the missing layer of modern collaboration by provisioning and managing the people, data, and risk associated with information exchange inside and outside the firm. Avaneesh Marwaha, Litera CEO, said that the acquisition would “help Litera execute its vision to transform the way legal teams collaborate. The addition of Litera’s tools and other core applications into Prosperoware’s platform will automate the new matter, budget, and deal creation process and provide legal teams with a single pane of glass to view and manage their work. Further, this acquisition continues our commitment to partner with law firms to build connections between Litera tools and other core tools lawyers depend on to get their work done, including Microsoft Teams, iManage, NetDocuments, Windows File Shares, and other systems.” “We are thrilled to join the Litera family; the breadth and utility of their solutions are amazing and complement our vision to help teams collaborate more efficiently and securely,” said Keith Lipman, Prosperoware CEO and Co-Founder. “The combined solutions will provide firms with everything they need – in the one place – to work more efficiently, especially as legal teams become increasingly remote or hybrid,” he added. The acquisition provides Litera with a broader range of solutions to improve client relationships and manage matters throughout their lifecycle. “The addition of Prosperoware to the Litera family brings new possibilities of better iManage integration and governance for Transact, and deeper integration with Microsoft Teams,” said Vince Cordo, Chief Revenue and Legal Project Management Officer, Holland & Knight LLP. Litera clients will be able to develop business more effectively and deliver matters more efficiently with innovative solutions that reduce overall matter cost while securing and governing the data. Also, the acquisition will bring third-party ISVs into Litera’s platform vision, including Microsoft M365, time and billing, and document management systems. Douglas Caddell, Global Chief Information Officer, Mayer Brown LLP, commented, “The combination of Litera and Prosperoware is exciting since the blending of their technology offers a better experience across the firm’s global user community. Both are strategic vendors for Mayer Brown.” Both Keith Lipman, CEO and Co-Founder, and Sheetal Jain, Chief Technology Officer, and Co-Founder will join Litera. The terms of the agreement have not been disclosed. Holland & Knight LLP, led by M&A partner Paul J. Jaskot, served as legal counsel to Litera. AGC Partners served as financial advisor to Prosperoware and Blank Rome LLP served as its legal counsel. About Litera Litera has been at the forefront of legal technology for 25+ years. As a global leader in workflow, AI-powered due diligence review and analysis, collaboration, and data management solutions, Litera provides legal teams with streamlined technology for creating, analyzing, and managing their documents, deals, cases, and data. Litera’s solutions help law firms and corporate legal teams around the world to work more efficiently, accurately, and competitively to provide their clients with usable and actionable information. For more information about Litera, visit litera.com or follow the company on LinkedIn. About Prosperoware Prosperoware helps teams collaborate more efficiently and securely. The company’s software solutions add the missing layer of digital collaboration by providing team-specific context and security to users, data, and projects. This is all enabled through the solution’s capabilities to allow organizations to better manage their collaboration systems by making it easier to provision, classify, protect, move, and minimize data – ultimately mitigating data chaos and risks related to privacy and cybersecurity. Over 370 clients across industries, 66% Am Law 100, 50% Global Top 20, 24% UK Top 50 have trusted Prosperoware solutions to enable them to collaborate safely with confidence, not chaos. For more information, follow us on Twitter and LinkedIn.   [...]
September 13, 2021HRSoft, the global leader in compensation, rewards and goals based performance management solutions, has been named one of the Top 25 HR Software Companies of 2021 by The Software Report. Read on original publication The list recognizes 25 companies that have continually and successfully adapted staff management resources to cater to the human resources software needs of businesses of all sizes, even in the face of the COVID-19 pandemic and its impacts on the workforce. The Software Report awards have achieved industry wide recognition among corporate executives, CTOs, CIOs, software professionals, institutional investors, private capital firms, and consultants among other software industry participants.  Today they are among the most respected and sought-after professional awards for software executives, companies and professionals. “HRSoft is honored to receive this award from The Software Report, which validates our growth and position as a trusted global leader,” said Eric Dirks, Executive Vice President, HRSoft. “As more organizations look to embrace digital transformation, HRSoft’s enterprise software allows them to seamlessly manage employee compensation, rewards and performance management all at once. We are pleased to be recognized for our commitment to innovating and improving human resource processes.” The full list for the Top 25 HR Software Companies of 2021 can be found here. About HRSoft HRSoft is the trusted global leader in Compensation Management, Total Rewards Communication and goals-based Performance Management solutions. The company’s COMPview™ product is the leading compensation management system for enterprise clients. COMPview is proven to systematically control, simplify and streamline the process of managing even the most complex compensation plans.  HRSoft’s proprietary low-code development platform allows the company to quickly create or configure client specific features, functions and workflows within its products. For more information, visit www.hrsoft.com. [...]
June 17, 2021PHILADELPHIA–(BUSINESS WIRE)–Prosperoware, a thought-leading enterprise software company for governance and adoption, announces its newest product, PowerDesktop – the hybrid Desktop Client for Power Users of Collaboration Systems. PowerDesktop currently supports iManage Work through the iManage Universal API. Read on original publication PowerDesktop is developed for power users to address complex import, export, and reorganization needs in collaboration systems. For over a decade, Prosperoware has been the leading provider in supporting transfer of matter files (import & export) between clients and firms. This next generation of products addresses complex needs of organizations that move large groups of documents and emails between organizations. PowerDesktop, an intuitive and user-friendly desktop tool, will be available in five modules: PowerDesktop – Bulk Operations (available now) Enables users to leverage rich search capabilities to perform bulk operations across tens of thousands of documents, ability to drag-n-drop content, rearrange large workspaces, including moving 10,000+ documents simultaneously. PowerDesktop – Import (available now) Enables users to import tens of thousands of documents and emails from a folder structure or CSV file. Allows for easy remapping of metadata, such as client, matter, and document type, to enable transfer of matter files between firms. PowerDesktop – PST Import (available July 2021) Enables users to import email from .PST files. PowerDesktop – Export (available August 2021) Enables users to export documents, folders, and workspaces in bulk with features to handle special characters, long file names, and more. PowerDesktop – Migrate (available Fall 2021) Empowers integrators and administrators to migrate file shares. “We’re very excited to introduce the first import and export solution based on the iManage Universal API,” says Keith Lipman, CEO & Co-founder of Prosperoware. “As a solution designed for power users, PowerDesktop is tailored to meet the needs of the modern cloud organization, and we look forward to offering it for other collaboration systems in the future.” Key features of PowerDesktop include: Support for iManage Work 10.3 and other upcoming systems Select any destination to import, down to the document level Drag-n-drop documents and folders to rearrange workspaces Download & browse thousands of documents from the iManage server View & access content beyond the current 10,000 document limit Limit types of files that can be imported Secure document import with appropriate access to document content [...]

Portfolio News

November 4, 2023—StationMD, a healthcare company that uses telemedicine to deliver care to individuals with intellectual and/or developmental disabilities (I/DD), announces today the formation of its Board of Advisors. The purpose of the Board of Advisors is to assist the management of the company with various strategic matters including providing input on business planning, identifying growth opportunities and new markets, assisting in resource prioritization, and assessing and recommending new products and offerings. The members of the new Board of Advisors are: Brian Litten (Chair): Healthcare strategist and former Chief Strategic Growth Officer of Tabula Rasa HealthCare (NASDAQ: TRHC) Hoangmai (Mai) H. Pham: President of Institute for Exceptional Care Becky Levy: Chief Strategy Officer and General Counsel of Summit Health/CityMD Charles Curie: Former Head of the Federal Substance Abuse and Mental Health Services Administration Susan Constantino: Former CEO of CP Unlimited and UCP of NYS John Dickerson: Disabilities tech developer and former executive at The Arc Kristin Darby: Chief Information Officer of U.S. Medical Management Craig Escudé: President of IntellectAbility Paul McBride: Former health insurance executive John L. Martin: Former Director of the Ohio Department of Developmental Disabilities StationMD was established in 2016 and has grown by over 800 percent since 2018, serving over 25,000 individuals across 15 states. The Board will provide guidance and expertise on industry trends, innovation, and policy initiatives that will help the company scale while maintaining focus on improving health outcomes for individuals with I/DD and reducing healthcare costs for payers. “StationMD conducts nearly 30,000 telemedicine consultations a year with individuals with I/DD. To sustainably expand the service to more who request it, it’s imperative that we have a diverse Board of Advisors with deep expertise in the areas of Medicaid, Medicare, health administration, clinical and non-clinical aspects of living with disabilities, and technology to be a sounding board on how we establish goals going forward,” said Dr. Matthew Kaufman, CEO of StationMD. “As one of the only physician practices in the country focused on improving healthcare quality for individuals with I/DD, StationMD is true leader in the medical community, and its growth reflects that. Members of the new Board are experts in scaling healthcare companies. They have critical insight on the population with I/DD, they understand the technology required to scale, and they can forecast payer and policy challenges and opportunities,” said Board Chair Brian Litten. “It’s an honor to support StationMD’s mission and help drive meaningful impact for those with disabilities.” For people with I/DD, the value of telemedicine is more pronounced as these individuals often have complex medical conditions that require immediate attention from a doctor, but they struggle with access to transportation, caregiver availability, and finding doctors who understand their medical nuances. People with I/DD are often high healthcare utilizers, incurring significant costs as a result. StationMD expands access to medical care for this population by offering 24/7, on-demand virtual consultations with board-certified doctors who are specialized in treating people with I/DD. With more than 90% of StationMD consultations, the doctor is able to resolve the issue virtually. StationMD clients have reported data that shows the service averts the need to travel to the ER or urgent care, it results in better health outcomes, and translates into millions of dollars in cost-savings for payers. For more information, please visit StationMD.com. ### About StationMD StationMD is a healthcare solution that delivers sophisticated medical care through telemedicine, offering immediate access at any time to high-quality, board-certified doctors who are specially trained in the care of individuals with I/DD. Through HIPAA-compliant two-way video technology, and with the use of Bluetooth medical tools, StationMD physicians can assess individuals in their home setting. They can provide treatment plan recommendations and quality medical care to keep patients safe, healthy and in place whenever possible. Learn more at www.StationMD.com and follow along via Twitter (@StationMD) and on Facebook and LinkedIn (StationMD). [...]
September 18, 2023Ad Revenue Insights allows publishers to see the precise revenue associated with each granular ad impression We are pleased to announce the launch of Ad Revenue Insights, a first-of-its-kind tool that enables publishers to capture the precise advertising revenue associated with their audiences, content, marketing tactics, page formats, and ad inventory. Publishers can now comprehensively measure and analyze ad performance data to identify the tactics that drive the most revenue. iNews.co.uk, a leading online news platform under DMG Media, was one of several major publishing participants who became an early adopter of the new product. Their analysis included: Understanding the relationship between advertising revenue and subscription revenue Monitoring and pinpointing causes of ad revenue shifts, while finding ways to boost earnings Which content, referral sources and geographic regions are most valuable for advertising Measuring the advertising value of anonymous, registered and subscribed users Balancing ad experience and subscription conversions to maximize total revenue The iNews team has been actively using Ad Revenue Insights to answer fundamental questions about the business. The quantitative results speak for themselves as iNews performed an analysis to identify gaps in their ad setup that were costing them over £200,000 per year in lost revenue. Through specific analysis enabled by ARI, they were able to: Identify a dip in ad impressions and revenue due to a mistakenly deactivated ad unit in specific site sections, leading to substantial revenue recovery upon reactivation Assess the influence of subscription messaging on ad viewability, confirming no adverse effect and addressing a critical query for enhancing prioritized actions Analyze subscription conversions and ad revenue geographically, offering essential guidance for effective monetization strategies beyond the UK “On top of the revenue impact iNews saw from Piano’s Ad Revenue Insights, it helped us join our Ads and Subscription teams’ efforts, giving us the ability to optimize our ad placements to recapture lost revenue,” said Harry Fawkes, Head of Subscriptions at dmgMedia. “This project has exposed how imperative it is for publishers to always advance their ad strategies hand-in-hand with the subscription strategies and discover ways to engage with their most impactful audiences.” “This tool transcends conventional analytics, offering a solution that tells you how your strategic and tactical choices directly relate to revenue-marking a pivotal moment in the evolution of digital publishing. Ad Revenue Insights empowers publishers to move beyond surface-level metrics and truly understand the impact of their content on revenue generation,” said Michael Silberman EVP of Media Strategy for Piano. “Ad Revenue Insights is an important step toward unifying publisher data across advertising and subscriptions. We’re excited to finally unleash this technology and offer publishers the ability to harness data in new and transformative ways.” In a highly competitive publishing landscape, the launch of Ad Revenue Insights signifies our commitment to equipping publishers with tools that drive revenue streams and deepen audience connections. As publishers navigate the complex intricacies of the digital realm, we remain steadfast in our mission to provide cutting-edge solutions that redefine industry norms. Check out the details on Ad Revenue Insights [...]
July 26, 2023Cecelia Health, a leading virtual specialty medical practice for chronic care management, announced another successful demonstration of its virtual specialty care solution, which has proven to deliver a 3.7x return on investment (ROI) for a health plan customer within six months of program launch. Virtual care is largely recognized in primary care settings and its utility has increased exponentially over the last five years. However, with millions of people in the US living with one or more chronic condition, the need for more accessible specialty care is growing. Leading this paradigm shift, Cecelia Health is expanding access to specialty care, including licensed clinicians and specialty providers, through a comprehensive virtual clinic platform. “In today’s evolving healthcare landscape, access to quality care is essential to achieving and sustaining better clinical and financial outcomes,” said Mark Clermont, Chief Executive Officer of Cecelia Health. “Our virtual clinic is not only expanding access to but modernizing the delivery of specialty care while proving its value for health plan customers by way of more engaged members with improved health outcomes.” Working with a Midwest health plan, Cecelia Health demonstrated a 3.7x return on investment for its virtual diabetes care program within six months of launch. The analysis compared members (including Medicare and Medicaid populations) referred to the Cecelia Health program for those enrolled vs. non-enrolled. Medical claims cost pre- and post- program were analyzed as well as cost savings between the two groups. The outcomes revealed that the program had a significant impact on: Lowering per member per month (PMPM) costs Reducing diabetes claims cost Decreasing inpatient costs Cecelia Health leverages virtual specialty care for several cardiometabolic and chronic conditions, including diabetes, cardiovascular disease, chronic kidney disease, obesity and weight management, as well as respiratory conditions like asthma and COPD. To view details of this ROI analysis, download the report here. About Cecelia Health Cecelia Health is a virtual specialty medical practice for proactive health condition management. Since 2009, our clinician-led, tech-enabled practice supports the clinical, social, and behavioral needs of patients while leveraging rich sources of data for insights to focus care and measure outcomes. The clinician-patient relationships we build result in high engagement rates, increased patient satisfaction, and durable health outcomes. Our solution is adaptable and scalable to health organizations such as health plans, health providers, retail healthcare, and life sciences. [...]
July 10, 2023People with disabilities can see a specialized doctor for most urgent care and behavioral health issues from home, avoiding challenging & expensive ER visits July 10, 2023, Pittsburgh, PA and Maplewood, NJ — Mainstay Life Services (Mainstay), a support provider agency for people with intellectual and/or developmental disabilities (I/DD) in Western Pennsylvania, reports that using StationMD’s I/DD-specialized telemedicine service across all its residences over the last two years achieved the following outcomes: 245 telemedicine visits took place across Mainstay’s 42 residences over nearly two years 92% of individuals who used StationMD’s telemedicine service had their medical matter resolved without leaving home 27% of incidents (67 incidents) traditionally would have resulted in a trip to the ER or urgent care clinic but were resolved by StationMD’s telehealth service Reducing ER transfer rates by 27% decreased hospital and operations costs by $98,758 Utilization of StationMD grew by more than 288% since January 2022 “For many of us, when we get sick, we want answers quickly and using telemedicine is such a benefit. It’s no different for the people we work for with intellectual disabilities and autism and our team members that support them,” said Mainstay’s Chief Executive Officer Kim Sonafelt. “Getting to a provider such as an ER or urgent care comes with complications for the people we work for – including risking exposure to other illnesses, disruption of schedules, and staffing coverage.” Sonafelt explains, “StationMD has helped the people we support to connect immediately from the comfort of home with doctors who understand them best. We’re seeing better health outcomes. Their team is happier, and the cost-savings allow us to offer better services.” Dr. Maulik Trivedi, co-founding physician at StationMD said, “People with I/DD often have complex medical issues in addition to their underlying disability diagnosis. Our clinicians are able to address and resolve over 90% of the medical concerns via our telehealth solution. We’re providing a backbone of care and serving as a critical medical resource 24/7 for individuals, families, and support staff.” StationMD currently serves 21 states and performs 35,000 virtual consultations a year exclusively with individuals with I/DD. StationMD can be used 24/7 for urgent care matters like fever and vomiting, seasonal illness, a seizure, a rash, or a fall, but also when an individual or their direct support staff just have a medical question or need a prescription refilled.  Kelley Shepherd is a direct support professional at Mainstay. She often supports up to four people at once and says, “StationMD makes my job easier because I know that I’m not going to get stuck in a scenario where I’m by myself. Working solo for most of my shift, what am I going to do if the person I’m supporting falls? I’ve got two other people who’d have to come with me if I have to go to the ER. Having StationMD is peace of mind.” When StationMD users are surveyed on their satisfaction, 97% say the StationMD doctor helped them and 98% say they would use StationMD again if they needed it.  Mainstay expects to increase utilization of StationMD’s services and has recently expanded the use of StationMD to its life-sharing partners. StationMD and Mainstay will be co-presenting data from their partnership at the annual RCPA conference in October 2023 in Hershey, PA. ### About Mainstay Life Services Mainstay Life Services provides life-long, high-quality supports to ensure that people with developmental disabilities lead fulfilling lives and realize their vision of a desirable future. Mainstay currently supports 375+ people with developmental disabilities, and their families, throughout Allegheny and the surrounding counties. Services are provided through 24-hour full-care homes, supported living, home & community supports and lifesharing. Mainstay also provides behavioral supports and employment services. Mainstay is the only regional provider that specializes in services and supports for people with Prader-Willi Syndrome, a rare genetic disorder. About StationMD StationMD is a telehealth company dedicated to serving individuals with I/DD. All StationMD clinicians are board-certified and specially trained to treat individuals with I/DD. Clinicians are available 24/7 via telemedicine for urgent and non-urgent medical matters. StationMD also offers scheduled psychiatry via telemedicine to individuals with I/DD. In providing this suite of services, StationMD enables individuals with I/DD faster access to high-quality care and substantially reduces unnecessary medical costs. Learn more at www.StationMD.com and follow along via Twitter (@StationMD) and on Facebook and LinkedIn (StationMD). [...]
June 15, 2022CORALVILLE, Iowa, May 4, 2022 /PRNewswire/ — VIDA Diagnostics, Inc. (VIDA), the leader in lung and respiratory intelligence, announced it has secured financing as it scales up to support strong demand for its VIDA Intelligence Portal, an AI-powered solution that supports clinical trial decentralization and improves site recruitment, onboarding, staff training, image data management and data quality. Since launching this latest addition to VIDA’s platform five months ago, demand has driven VIDA’s network to reach more than 1,000 sites, leading to substantially increased bookings and annual recurring revenue. Read original publication Financing was supported by Listwin Ventures, long-term customer UW Health, Mathers Associates, University of Iowa Research Foundation, Live Oak Bank (debt facility) as well as existing investors. VIDA intelligence adopted by over 1,000 sites globally”At VIDA, we are tapping into the growing biopharma market demand for clinical data intelligence to address inefficiencies and data quality issues in developing lung and respiratory therapies,” said Susan Wood, Ph.D., VIDA’s president & CEO. “The new funding supports strategic senior hires, builds on revenue momentum and accelerates the pace of innovation, particularly as biopharma companies seek new strategies to support the digitization, automation and decentralization of clinical trials.” To broaden VIDA’s strategic opportunities and to support rapid commercial growth, Jon Freeman recently joined VIDA as chief financial officer. Freeman has a long track record of strategically guiding innovative healthcare companies through fundraising and acquisitions. “I’ve been fortunate to provide strategic financial counsel to some exciting growth companies,” said Freeman. “I was drawn to VIDA’s compelling value proposition, the team’s passion and commitment, and the company’s growth trajectory. The opportunity to build on that strong base was highly attractive.” Other senior team members joining the team based on VIDA’s strong potential include Keshav Datta, Ph.D., vice president research & development; and Martin Henehan, vice president, business development. Collectively, Freeman, Datta and Henehan bring decades of experience building and growing financially successful biopharma and healthcare intelligence companies. In early April 2022, VIDA received market authorization in Japan for its VIDA Insights software, which is a complementary data-driven solution used by lung care teams at the point of care, aiding them to detect disease early, diagnose with more confidence, make more personalized treatment decisions and use precision lung intelligence to better manage population health. VIDA will be showcasing its lung intelligence solutions, including the VIDA Intelligence Portal, at the American Thoracic Society (ATS) International Conference May 13 – 18 in San Francisco and at the Precision Medicine World Congress (PMWC) June 28 – 30 in Santa Clara. At PMWC Dr. Susan Wood will deliver a talk, AI-Powered Lung Intelligence to Drive Clinical Trial Efficiencies. About VIDA DiagnosticsVIDA is a precision lung health company, accelerating therapies to patients through AI-powered lung intelligence. VIDA DiscoverySM services enable more efficient respiratory clinical trials by providing more precise quantitative endpoints, AI-powered data quality controls, site training, and more to help biopharma sponsors save millions in drug development costs. VIDA Insights™ empowers physicians to better manage patients with or at risk of chronic obstructive pulmonary disease (COPD), interstitial lung disease, asthma, emphysema, lung cancer, and COVID-19. VIDA’s software is FDA cleared, CE-marked, Health Canada licensed, TGA registered, and PMDA certified for clinical use in the US, European Economic Area, Canada, Australia, and Japan. Learn more at https://vidalung.ai. Follow @vidalung on Twitter and LinkedIn. SOURCE VIDA Diagnostics, Inc. [...]