
InVivoLink drummed up $1.9 million from 3 investors in a recent equity financing round, according to documents filed with the SEC. The recent $1.9 million is the 2nd wave of an initial funding promise from investors, set to kick in after InVivoLink achieved certain milestones, according to CEO Ryan Wells.
The Nashville, Tenn.-based company sells web-based mobile apps and software that helps healthcare providers and manufacturers keep track of performance measures.
Backing the round were 3 VC subsidiary organizations controlled by Blue Cross Blue Shield and the Hospital Corp. of American. InVivoLink plans to use the proceeds to hire new staff and continue developing the orthopedic application of its evidence-based medicine software.
The company touts the practical applications of its data management service in the orthopedics field, where surgeons, sales reps and nurses can streamline work-flow by inputting data into a web-based portal. The end goal of InVivoLink’s orthopedic service is a dynamic "report card" that summarizes the entire episode of care, including all patient outcomes, surgical notes and emailed communications, Wells said.