Texas hospital-software startup Valify raised $2 million in a Series A round of financing, according to Xconomy.
Dallas, Texas-based Valify produces software and analytics to improve hospital spending awareness and to streamline vendor relationships, the company said.
“Strangely enough, it’s hard for a health system to know many (vendors) they’re using across the system. We provide pure visibility. We can find, for example, hey, you’re spending $30 per square foot, while the average is $20 per square foot,” CEO Chris Heckler told Xconomy.
Funds from the round are slated to go towards increasing sales and marketing staff, as well as software developers, the company said.
The funding round was co-led by Frist Cressey Ventures and Step 5 Capital, as well as existing investors, Xconomy reports.