BoardVitals raises $1.1M to build the Wikipedia of medicine
Continues to grow market share across siloed medical education and accreditation landscape
NEW YORK, NY – (August 3, 2015) — BoardVitals, a rapidly growing healthcare startup based in New York City, announced today that it has raised $1.1 million in Series A funding from Rock Creek Capital, a Salt Lake City based growth equity fund. This follows initial seed funding from several investors, including Blueprint Health, Rothenberg Ventures, and Charles Boorady, the number one healthcare investor, according to Forbes.
BoardVitals has rapidly gained market share by redefining a siloed industry, medical assessments and certifications, and the company has been on a growth tear since it was founded in 2013. BoardVitals has trained over 30,000 doctors and the product has been purchased by over 150 institutions in the past year alone. The company was also named the ‘Most Promising Startup in New York’ as the winner of the 2014 Gust Catapult startup contest.
“BoardVitals will revolutionize the training of health care professionals in a way that will improve the quality of their lives and the quality of care they provide,” says Rick Stratford, a partner of Rock Creek Capital. “The exceptional talent and leadership of Dan Lambert and Dr. Andrea Paul has propelled BoardVitals into a market-leader in healthcare education in less than two years.”
Stratford will join the board of directors following the close of the Series A round. The board of directors also includes Greg Samios, former president of Kaplan Health and a long time adviser to the company.
“During my time working with Dan and Andrea, I have been extremely impressed by their ability to develop a unique assessment tool, which they have rapidly scaled across the healthcare marketplace,” said Samios.
The founding team is no stranger to fast growth companies. BoardVitals CEO Dan Lambert is a Harvard Business School graduate who co-founded Pushpins, a mobile couponing app that was acquired in 2013. Dr. Andrea Paul, chief medical officer, left her successful practice after 8 years of clinical experience to oversee content development. Dr. Paul was recently named one of 10 Disruptive Women in Life Sciences for her work on BoardVitals.
The company offers digital assessment tools that bring together medical content from major sources: publishers, research institutions, and more than 200 individual practitioners.
“It’s not only about new technology, it’s about building a new ecosystem for Medical Education,” says Lambert. “For the first time medical content is not just peer reviewed, but it’s now reviewed by hundreds of doctors within each specialty. Every piece of content on our platform is continually rated and we receive hundreds of feedback notices every week that ensure content is up to date.”
The $1.1M Series A round will be used to grow the team and increase the company’s market penetration. BoardVitals is also the first Manhattan-based company to be accepted into the recently created START-UP NY tax free zone.
BoardVitals is a healthcare education startup based in New York City that develops digital assessment tools and medical content to prepare physicians, nurses, and medical health professionals for specialty board exams and certifications. Bringing together content from major publishers, universities, and leading healthcare providers, BoardVitals provides the largest and most up to date training ecosystem in medicine. The company uses machine learning and crowd curation to identify and improve medical knowledge as information is published. BoardVitals is backed by several investors including Blueprint Health, Rothenberg Ventures, and Rock Creek Capital. For more information, visit http://www.boardvitals.com.
About Rock Creek Capital
Rock Creek Capital, LLC is a growth equity investment firm based in Salt Lake City, Utah. The partners of the firm, Rick Stratford, Tony Horsley and Jordan Clements, have collectively over thirty years experience in partnering with CEOs in building outstanding, high growth businesses in a range of industries, including business services, healthcare, specialty finance and manufacturing. High growth companies they have previously helped build include Vivint, Energy Solutions, Health Equity, Packsize, Signature Products Group, and Snap Finance, among others.