TechCXO Assists PokitDok on $34 million Series B Raise
PokItDok, the API provider for the healthcare industry, announced the close of a $34 million Series B. TechCXO Managing Partner Kent Elmer advised on and assisted in the capital raise as acting CFO.
The company, launched back in 2011, provides software framework for things like payment processing, eligibility checks from insurance companies, referrals, claims submissions, online scheduling, patient identity management and provider search.
In other words, any mobile or web developer can tap PokItDok’s APIs to build out a healthcare based application or service, ranging from consumers scheduling a doctors’ appointments, connecting to insurance companies for eligibility checks, or quick payments or referrals in the doctor’s office.
The new round was led by Lemhi Ventures, a health care services VC firm with more than $330M in assets under management. This brings PokItDok’s total funding to $39 million following a $4.3 million Series A round in June of last year.
As it stands now, PokItDok has relationships with more than 300 insurance providers nationally to allow easy transfer of data between patients, providers, and insurers.
The healthcare industry has historically been quite tech-averse and slow to move into the digital age, but with a framework in place (such as PokItDok), developers can finally build applications and services that are easy for various parties in the healthcare industry to adopt and ultimately, start saving people time and energy.