Growth Round Co-Led by Providence Ventures and Health Enterprise Partners
Kno2®, the company that enables interoperability at scale, today announced that it has raised $15 million in a Series A funding round to advance its purpose to connect all participants across the care continuum, human or technology, for the secure, effortless and maximized exchange of patient information. The funding round was co-led by Health Enterprise Partners (HEP) and Providence Ventures.
The new funding will enable Kno2 to accelerate continued expansion of connectivity and workflows across the platform while growing the breadth and depth of the partner base integrated with the company’s APIs. It will also enable Kno2 to expand its reach to underserved markets such as small to medium physician offices, post-acute and behavioral health providers, community services, and more ─ connecting these critical participants to the rest of the healthcare ecosystem.
“Healthcare has become disillusioned with interoperability,” says Jon Elwell, CEO of Kno2. “For years, we have watched rounds of legislation, billions of dollars in investment, and a multitude of predications that soon we were going to wake up to an entirely connected ecosystem. Unfortunately the opposite has been true, but, Kno2 is changing this reality.” Elwell continues, “Through our unique approach which incorporates not only our technology but also our partnership and economic models, we are disrupting the status quo and ensuring connectedness and meaningful exchange are a reality for all, from the smallest to the largest participant.”
“HEP believes that Kno2’s technology will break through the historical barriers preventing clinical information exchange on a broad basis,” says Ezra Mehlman, Managing Partner of HEP. “With the market insight afforded to us by our industry limited partners, including many of the nation’s leading health systems and payers, we are excited to help drive Kno2’s expansion strategy, as healthcare organizations finally start transitioning away from fax as the primary form of communication.”
“Providence Ventures is passionate about funding innovative companies that are demonstrating a positive impact on healthcare,” said Jeff Stolte, Senior Partner of Providence Ventures. “We welcome Kno2 as our newest portfolio company and are excited to support and help accelerate their vision to modernize communication between disparate stakeholders across healthcare.”
Serving as healthcare’s largest network aggregator, Kno2’s patented API technology provides connectivity and secure exchange across every major national network, a growing number of regional networks such as HIE’s, cloud fax, proprietary platforms driving critical workflows such as electronic signature and referrals, and continued expansion of EHR integrations through their native APIs. Based upon the need to Send, Receive and Find patient information, Kno2’s simple set of REST-based APIs enables healthcare technology vendors to quickly gain access to the entire healthcare ecosystem for exchange across nearly every clinical workflow.
For technology vendors, the Kno2 APIs enable a simple, affordable yet meaningful way to connect their technology and end users to the entire healthcare ecosystem. Since the need to exchange and access patient information from different platforms and applications is rapidly evolving in healthcare, technology vendors integrated with Kno2 APIs are wide and varied, from EHR vendors to digital health platforms to remote patient monitoring and even common office equipment manufacturers.
First Analysis Securities Corporation served as exclusive financial advisor to Kno2 in the transaction.