A first close of $795,000 was initiated on December 26th 2013 by GDD HCAnalytics on its fundraising effort. The company, which is marketing its healthcare analytics tool as Artemis, is named after its founders Gordon Grant, Allred Dallen, and Regehr Dallin. 80% of the $1 million non-brokered equity offering was subscribed by nine investors, one of whom is believed to be the startup accelerator Blueprint health. This is the first time the company, founded in March 2013, is raising money on the private placement market.
Artemis is a Software as a Service (SaaS) platform which combines big data and data visualizations to guide benefits managers directly to the insights that will save them the most money. The company claims about 9% of healthcare cost can be saved using its platform. Its target audience is self-insured employers who want to reduce healthcare spending by turning their health claims and assessment data into insights. The healthtech company had anticipated to have 350,000 lives on the platform by the end of 2013. Artemis is offered via an annual SaaS licence fee that ranges between $50,000 to $150,000 depending on the size of the company.
The company was previously headquartered in Provo UT and has relocated to New York City according to its website. Revenues were not disclosed. The executive team includes Grant Gordon (Product Development), Dallin P. Regehr (CTO), and Allred Dallen (Business Development).
Status: First close
Company: GDD HCAnalytics
Industry: Other Technology
Amount offered: $1 million
Amount placed: $795,000
First sale: 12/26/13