Medcurity, the Spokane, Wash.-based startup that makes it easier for healthcare organizations to comply with federal privacy and security laws, has raised an additional $200,000 as part of a seed funding round.
The added cash from Washington Research Foundation brings Medcurity’s total for the round to $737,500.
Amanda Hepper, who co-founded the startup alongside Joe Gellatly and launched in December 2018, said the additional investment will be used to increase Medcurity’s digital marketing presence and to expand its offerings to include HIPAA Security and Privacy training.
As a health tech company in the midst of a global pandemic, Medcurity knows its customers are focused on that fight, while others are dealing with HIPAA compliance.
PREVIOUSLY: Medcurity raises cash to be the TurboTax for federal healthcare law compliance
“We serve the healthcare community including hospitals and practices who are in the forefront of the COVID-19 pandemic,” Hepper said. “Many are 100 percent focused on addressing COVID with reduced staffs.”
Hepper said Medcurity has seen a slight decrease in business, but many organizations are using this time to address HIPAA assessments and policies.
Medcurity’s approach is similar to that of TurboTax, the online tax processing tool, according to a 2019 GeekWire report on the startup. The product takes users through a series of questions that assesses the administrative, physical and technical risks that an organization might face. Based on those responses, it creates action items that can be assigned to people within the organization and tracked over time.
Medcurity has six employees and in the next few months plans to hire a CISO, web developer, and in sales.
Update, Wednesday, July 15, 8 a.m. PT: Medcurity’s funding success continues with a $500,000 investment from SeaChange Fund. Hepper said the additional cash will be used to expand sales and marketing efforts. The startup has added a chief information security officer, sales executives and added five interns, bringing total employee count to 13. Additional funds are also being used to expand the Medcurity platform to include HIPAA Security and Privacy training for health organization employees and compliance officers.
“They are addressing tremendous market needs in HIPAA compliance with their platform, Susan Preston, SeaChange managing partner, said of Medcurity. “We were impressed by their ability to listen to healthcare organizations of all sizes and to systematically address their HIPAA pain points by providing thoughtful compliance tools, resources and guidance. Our team believes this solution is needed now!”
