Iggbo Closes $13 Million Series A Financing Round
Monday, June 27, 2016
Iggbo, a healthcare technology company focused on bringing personalized medicine to more people through on-demand blood draws and medical testing, has closed a $13 million Series A financing round. The financing was led by Heritage Group, a healthcare-exclusive, venture capital firm based in Nashville, TN. Iggbo, which currently operates in over 120 cities, will use the funds to offer on-demand blood collection services to diagnostic laboratories, health systems, providers, retailers, and payers.
"Blood is the starting point for healthcare. 70% of medical decisions made by providers begin with a blood draw," said Nuno Valentine, Chief Executive Officer and Co-founder of Iggbo. "Until now, however, the system of blood diagnostics was disconnected. It was outdated, fragmented, and inconvenient. We solved this problem by using smartphone technology and an on-demand, flexible workforce to collect blood diagnostics and other vital signs anywhere, anytime."
Iggbo uses an on-demand delivery approach to more efficiently organize and manage the entire laboratory test collection process. The Iggbo network consists of over 8,000 phlebotomists who perform fixed and on-demand blood draws at a convenient location, chosen by the patient and their healthcare provider, with the push of a button. Once an appointment has been set at the patient's desired location, a series of reminders take place – email, text, and automated phone calls – to ensure appointments are never missed. Every sample is monitored, tracked, and connected digitally. As a result, Iggbo saves time and money while improving compliance and patient outcomes.
"This is an exciting time for healthcare. We are pleased to be able to offer a solution to a significant challenge in the industry and are grateful to have Heritage as our partner for the journey," said Dr. Shaiv Kapadia, Chief Medical Officer and Co-founder of Iggbo.