Health technology startup MDMetrix has raised its first venture capital funds.
The company raised just over $758,000 in seed funding, according to an SEC filing. MDMetrix CEO and Co-founder Dan Low confirmed the new funding but declined to comment further on the round because it is ongoing.
Low, a career anesthesiologist working at Seattle Children’s Hospital, was inspired to found MDMetrix to tackle a big problem for many doctors: Accessing patient data.
We tell his full story on a recent episode of GeekWire’s Health Tech podcast.
On that episode, Low said his “aha” moment came when the hospital made a small change in procedure and began using a new drug in a common surgery. Low wanted to find out if the new drug worked better than the one by analyzing patient data, which the hospital already owned.
But accessing that data was a long and painstaking manual process. He founded MDMetrix to offer an alternative: A completely automated platform that lets doctors pull up and compare real-world efficiency data on any number of drugs, procedures and devices.
Low and his co-founder, longtime software engineer Matthew Goos, incubated MDMetrix inside Seattle Children’s and the company recently became Seattle Children’s first spin-out.
MDMetrix has four full-time employees working across the country. Low doesn’t include himself in that count — he doesn’t take a salary and intends to hand over the reigns to a new CEO once the company is off the ground. He and Goos are both based in Seattle.