CellTrak, an early entrant into the mobile health space that focuses on connecting home caregivers, has raised $11 million. Boathouse Capital led the round with participation from existing investor MK Capital. This brings the company's total funding to $23 million.
CEO Mark Battaglia told MobiHealthNews via email that there are a number of reasons the company decided to raise money now. For one, the company has seen a boost in business over the last year, owing partly to new integration with Epic. They've added Adventist, Aspirus, Childrens Mercy Hospital, Maine Health, Halifax Health, and St Joseph’s in Liverpool, New York, as well as some larger, undisclosed systems.
"We expect to see even more rapid growth in next few years due to 21st Century Cures Act and its requirement for Electronic Visit Verification in the Medicaid market (that drives demand for our mobile apps, which use the GPS capabilities of the mobile device)," Battaglia said.
"The shift to value-based models across all segments means that providers and payers in all segments (and all countries) want more information from the point-of-care. That both drives demand for our current software as well as a desire to expand our platform."
Schaumburg, Illinois-based CellTrak launched in 2006 and started out making tools for feature phones and Blackberry devices to connect staff members of home health agencies. We profiled them way back in 2010, noting that they already had 50,000 users and more than 50 customers.
Today, the company has more than 200 customers and offers a device-agnostic care delivery management platform that connects home caregivers with their home offices, with extended care teams, and with other technologies including electronic health records.
"CellTrak is unique in the industry with its focus on the full scope of care delivery management," Battaglia said in a statement. "Today, we offer agencies proven real-time interoperability; secure connections that enable collaboration across the extended care team; and the ability to use data in smart ways, including to meet Electronic Visit Verification regulations that fight fraud, to improve point-of-care responsiveness, to optimize care delivery, and to better manage the people who deliver care.”
The company plans to use the funding to innovate its platform, hire more sales and support staff, and to support future acquisitions. CellTrak has already made at least one acquisition: Canadian clinical decision support and care documentation tool MedShare, which CellTrak purchased in 2011.