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22 July 2015

Bright investment by Stanford-StartX

Stanford-StartX part of investment consortium backing healthcare SaaS Bright.md.

Author: Gregg Bayes-Brown, editor

Bright.md, a software-as-a-service (SaaS) platform for healthcare, has closed a series A worth $3.5m and backed by Stanford-StartX fund.

The fund, which focuses on startups which have graduated from Stanford’s student-led incubator StartX, was joined by Seven Peaks Ventures and Oregon Angel Fund, which led the round.

Bright.md’s SaaS platform, SmartExam, offers a service which the Oregon-based company is billing as a virtual physician assistant. The platform allows patients to connect online with their primary care providers and undertake an evidence-based online examination at a lower cost than a trip to the doctors in person.

Co-founder Mark Swinth attained his MBA from Stanford’s Business School, and attended StartX’s medical programme StartXMed earlier in the year.

Ray Costantini, CEO of Bright.md, said: "As an early stage company, it's exciting to see such strong support for our product, which has been underscored by the success of our Series A raise. In addition to the funds we closed, we had more than $1 million of additional investor commitments, and were able to be very selective in our capital strategy. We've attracted a stellar group of early-stage investors to help us take a more aggressive approach. Their support helps us capitalise on the accelerated market momentum we’re seeing, including expansion of our initial implementations and the addition of multiple, exciting new clients.”

Copyright Mawsonia Limited 2010. Please don´t cut articles from www.globaluniversityventuring.com or the PDF and redistribute by email or post to the web without written permission.

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