Shareable Ink has secured $5M in Series B Financing. The funding will allow the company, for the next 18 months, to address the overarching goal of judiciously growing the business (e.g., more customers, more products, and lots more system activity) and also convincingly demonstrating the potential for future growth beyond 2013. This will mean recruiting good people and putting the right infrastructure and processes in place.
Sophisticated Healthcare Investors Back Enterprise Cloud-Computing Approach to Data & Predictive Analytics
Nashville, TN (June 19, 2012) – Shareable Ink®, an enterprise cloud computing company that transforms handwritten documentation to structured data and predictive analytics, today announced it has secured $5M in Series B Preferred financing from Lemhi Ventures, a top-tier, healthcare-focused venture capital firm dedicated to disruptive change in the marketplace. Shareable Ink plans to utilize the proceeds to expand operations in all areas of the business, including client services and R&D as the company manages the evolving needs of its rapidly growing customer base.
“Today, quality venture capital is highly selective, only focusing on the companies and teams that showcase the most meaningful offerings and the best talent,” said Stephen S. Hau, President and CEO, Shareable Ink. “We are thrilled by Lemhi Ventures’ endorsement and our shared vision of helping the business and practice of healthcare become more data-driven.”
Both providers and patients utilize Shareable Ink’s natural input tools to capture the “first inch” of clinical documentation without compromising productivity. The Shareable Ink cloud platform converts handwritten text and gestures into structured and codified data, which are then fed into core hospital and practice systems. In addition, Shareable Ink Analytics provides unprecedented insight into efficiency, quality, and costs.
“We are encouraged by the practical transformation that Shareable Ink brings to the intersection of clinical and administrative data. We have studied the challenges of provider adoption to health information technology and have been impressed by the ease, cost, and flexibility of the Shareable Ink platform,” said Tony Miller, Managing Partner of Lemhi Ventures, who also becomes Chairman of the Board of Shareable Ink, under terms of the deal. “We are excited to partner with the Shareable Ink team to help them continue to extend their reach and capability in making healthcare more efficient, data-driven, and accountable.”
Tony Miller, a self-described healthcare geek, is a recognized industry expert and frequent speaker on consumer-driven healthcare and health policy. As founder and managing partner, he draws on experiences as varied as a consultant and a CEO to drive Lemhi’s investment decisions and involvement with portfolio companies. Jodi Hubler, Managing Director of Lemhi Ventures, also joins the Shareable Ink Board. As the managing director and an active advisor to several portfolio companies, Hubler leverages a significant background in strategic human capital and in executive and board development.
About Shareable Ink
Shareable Ink helps healthcare organizations of all sizes transition to electronic health records without disruption to workflow or burdensome IT projects. Its enterprise cloud-based platform incorporates natural input tools, including iPads and digital pen and paper technology featuring Anoto functionality. The resulting structured and clinically-encoded output populates the EHR with discrete data, as if typed in directly. Built-in analytics give hospitals and practices insight into their operations — from a clinical, quality and efficiency standpoint — all previously inaccessible from traditional handwritten records. For additional information, visit www.shareableink.com.