Irvine, Calif-Based Health Tech Firm Acquires Growth Strategy Funding for NICU Mobile App
IRVINE, Calif., Nov. 17, 2016 /PRNewswire/ -- Rapid Healthcare Inc., a mobile medical apps software company based in Irvine, California, is proud to announce an important alliance that will increase growth strategies for improved access to health care professionals through funding provided by Watermark Venture Capital. Watermark is a privately held California firm currently deploying its services to support large national companies to start-ups. Watermark Venture Capital selects award candidates for capital infusion, based in key technology growth areas such as the healthcare, artificial intelligence, SaaS and more.
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The funding will support the advancement of Rapid Healthcare's core products for national and international markets. Rapid Healthcare rose to prominence with its app Mother's Milk, which prevents misfeeds in the Neonatal Intensive Care Unit (NICU) of a hospital. The app has continued to evolve to track and validate the feeding of the mother's expressed milk, the donor milk and the donor milk nutritional products.
Rapid Healthcare has successfully implemented its Mother's Milk app at one of the largest NICU wards in Southern California. Utilizing this app, the hospital eliminated dual nurse sign-off and manual workarounds, improved staff ratios and costs, and reduced liability.
"Our apps assist in the prevention of human error during the administration of patient care. Rapid Healthcare has focused on providing mobile first-based workflow solutions through its innovative platform, which ensures adherence to patient safety standards, and most importantly, integration into hospital medical record systems," says Anton Ansalmar, Founder and CEO for Rapid Healthcare.
"The announcement of venture capital funding by Watermark Venture Capital is a significant testament to the work we are doing and a validation of the opportunities ahead of us. My team and I are energized to take Rapid Healthcare to the next level, bringing more innovative, mobile health solutions to the market and reducing patient safety issues using smart mobile devices. Additionally, this funding supports the development of our core suite of products scheduled to launch next year on our new cloud-based platform," says Ansalmar.
"Rapid Healthcare is an innovative company for our firm because they are in a niche growth vertical in healthcare, software as a service (SaaS), which supports better clinical outcomes through software distribution in a recurring business model. Rapid Healthcare creates great potential for launching new products through its platform and secondary data-mining capabilities that are yet to be realized. It fits the pro forma of the kind of company in which we like to invest, as well as meets our interest in the quality of the product, the industry space, the shift in demographics that we see and the quality of the team," says Mangesh Mahajan, Partner, Watermark Venture Capital.
About Rapid HealthcareRapid Healthcare Inc., headquartered in Irvine, California, is a mobile medical app software company, focusing on the development and implementation of integrated clinical apps using smart mobile devices and a modern platform that integrates with any hospital medical record system. Rapid Healthcare's solutions have been developed within the hospital setting, in coordination with the nursing staff, thereby adhering to standards of care for patient safety and individual hospital workflows.
About Watermark Venture CapitalWatermark Venture Capital is a privately held California firm currently deploying capital for growth strategy companies. Watermark invests in artificial intelligence, SaaS, cloud-based encryption and security, patentable innovations and products, and process engineering optimization software. Their Investments are primarily made in California for early-stage companies up to $1 million. Watermark Venture Capital's long term strategy includes working side by side with CEOs, which has gained the firm a reputation for great relationships with start-up companies.
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SOURCE Rapid Healthcare