Verifiable, a healthcare identity startup that recently launched out of Y Combinator, has raised $3 million in seed funding, TechCrunch reports. The money came from institutional investors Tiger Global, Liquid2 Ventures, Struck Capital and Soma Capital, as well as individual backers Jack Altman, Max Mullen and Sahil Lavingia.
WHAT IT DOES
Verifiable has built an API to help organizations confirm the credentials of healthcare providers. According to the company's website, the software connects to "hundreds" of primary sources to verify records such as medical licenses, medical certifications, state controlled substance licenses, National Provider Identifiers (NPIs) and others.
The tool captures an image of those primary sources to automatically generate a report for the organization, and provides a time-stamped audit log of its license verification activities. In addition, the company also provides automated notifications when a potential compliance issue is detected so that it can be addressed with little interruption.
At the time of its launch in August, Verifiable said that it was already verifying and monitoring the credentials of more than 50,000 providers. The company told TechCrunch that it's providing these services to Talkspace, Sesame and Verge Health.
WHAT IT'S FOR
The company did not outline any specific plans for its new funds.
From blockchain to biometrics, healthcare organizations are tapping a number of novel technologies when it comes to ensuring the identities of its providers and patients alike. A major player in this space is Imprivata, which just the other week launched a no-touch device that scans a patient's palm to confirm their identity.
The company has also had a long-standing partnership with Microsoft that brings the company's governance and single sign-on capabilities to the tech giant's platforms.