Partnership will Help Accelerate New Market Growth for SaaS Company
Minneapolis, MN (Nov. 18, 2014) – Arthur Ventures, a venture capital firm focused on software companies in the healthcare market, has invested in the seed round for SaaS start-up, Zipnosis, a simple-to-use online diagnosis and treatment option for minor health conditions (www.zipnosis.com).
Minneapolis-based Zipnosis partners with health systems across the country to power virtual care services that are white labeled. By connecting patients and local clinicians online, Zipnosis makes mainstream medicine not only affordable, but easily accessible to anyone with a web-enabled device.
According to new research by Deloitte, 75 million “virtual” doctor visits, or 1 in 6 will occur this year alone. Revenue in the telehealth services industry is expected to increase by an annualized 30.7 percent to $320.2 million in the next five years, including revenue growth of 23.1 percent in 2014, according to a new report from market researcher IBISWorld.
“We recognize the increasing role telehealth will play in improving the country’s existing healthcare landscape,” said James Burgum, managing partner of Arthur Ventures. “Arthur Ventures invests in businesses that help solve clearly defined problems by leveraging the power of technology as a business amplifier and accelerator. We believe Zipnosis is making it easier and faster to connect for care—impacting healthcare delivery in our country by improving access and increasing clinical capacity.”
“Arthur Ventures’ investment will help accelerate our exponential, organic growth over the next two years,” said Zipnosis Co-Founder and CEO Jonathan Pearce. “Their experience growing massively successful software companies provides Zipnosis with key strategic guidance through this exciting phase of our company.”
Through the Zipnosis platform, patients can receive prompt, high-quality care for common medical conditions such as sinus infections, female bladder infections, pink eye, or cold, cough and flu through via mobile phone, computer and tablet—all for a flat-rate $25-$35 service fee payable by a credit card or health savings card.
The company’s asynchronous model ensures adherence to evidence-based medicine, while guiding connections between clinicians and patients. The platform is incredibly efficient, leading clinicians to provide diagnosis and treatment for common ailments in less than two minutes a visit. Additionally, the platform attracts new patients to a health system, building an incremental revenue stream for hospitals without adding additional clinical headcount.
As one of the nation’s leading virtual care providers, Minneapolis-based Zipnosis is defining digital medicine, providing virtual care for common medical conditions from the convenience of a web-enabled device. Founded in 2008, the company is continuing to improve patient care one click at a time by making it easy for patients and providers to connect online. Whether through Zipnosis.com or its white label product offered by hospital and clinic partners around the country, users can be diagnosed, treated and triaged if necessary, to the appropriate level of care—receiving infallible care in a manner that is most convenient to them. Zipnosis’ asynchronous model ensures compliance to the evidence-based clinical guidelines by more than 70 percent for many of the conditions it treats. Find out more about Zipnosis, at www.zipnosis.com, Facebook.com/Zipnosis, and Twitter.com/Zipnosis.
About Arthur Ventures:
Founded in 2008, Arthur Ventures is a venture capital firm focused on early-stage software companies. The firm has offices in Fargo, North Dakota and Minneapolis, Minnesota. Additional information on Arthur Ventures can be found at www.arthurventures.com.