24 Feb This Startup Raised $45 Million To Connect Healthcare Data In The Cloud
Everyone knows you can’t fit a square peg into a round hole, but imagine that’s what your plumbing connections actually looked like. That’s day-to-day life in the world of healthcare data exchange—pipes of all different shapes and sizes with no good way to connect them. Redox, a Madison, Wisconsin-based startup, has invented a technological soldering iron to tighten these connections, enabling healthcare information to flow in the cloud.
“We think about ourselves as an infrastructure company,” says Redox cofounder and CEO Luke Bonney. “How do we accelerate the adoption of technology in healthcare? Integration is a massive problem.”
Bonney, 35, and his cofounders Niko Skievaski, 34, and James Lloyd, 36, aim to do for healthcare what Plaid did for the financial services industry: get different software systems to talk to each other. Plaid connects an individual’s bank account to financial applications like Venmo. Redox enables hospitals (and ultimately patients) to connect with software developers building the latest healthcare applications.
“The major inspiration for Redox was thinking about a developer-first platform, where we’d be powering a two-sided network,” says Bonney. “One side was going to be the innovators and developers, the people building technology. And on the other side was going to be all the providers and patients, the people who need to use that technology.”