MILWAUKEE, Nov. 2, 2017 /PRNewswire/ -- Sift Medical Data, a Milwaukee-based healthcare technology startup, has closed a seed funding round of $665,000. Funding was led by The Winnebago Seed Fund with additional investment coming from Jeff DeAngelis, President of Northwest Passage Capital. The financing will be used to expand Sift MD's data science team and will allow for further investment in its proprietary healthcare analytics platform. Mr. DeAngelis, along with two directors appointed by the Winnebago Seed Fund, will join Sift MD's Board of Directors.
Sift MD provides the first artificial-intelligence driven and vertically integrated platform for Revenue Cycle Management (RCM). Sift MD's healthcare analytics platform holistically leverages medical data from both structured and unstructured sources. Applying machine learning and proprietary text mining technology, Sift MD's platform uncovers key data points that enable revenue cycle management companies to reduce insurance claim denials and increase patient collection rates.
"Between their commitment to Wisconsin-based entrepreneurs and their enthusiasm for technology-driven startups, The Winnebago Seed Fund is an ideal partner for Sift MD as we deepen our data analytics toolset and scale our company," said Justin Nicols, Founder and CEO of Sift MD. "We're excited to have partners that align with our vision and can help us grow a powerful healthcare technology company."
"Sift MD is a uniquely positioned technology company with tremendous growth opportunity," said David Trotter, Managing Director at The Winnebago Seed Fund. "The platform that Justin and the team are developing is impressive and we're excited to be working together to scale the business."
Sift Medical Data is the first startup to be funded by the Winnebago Seed Fund whose goal is to invest in Wisconsin entrepreneurs and grow startups throughout the state. The seed investment in Sift MD will advance the company's technology and reach, and is a positive sign for entrepreneurship in the region.
About Sift Medical Data
Sift Medical Data is a Milwaukee-based healthcare technology startup led by data analytics experts. Founded in 2017, Sift MD offers revenue cycle management companies and healthcare providers a powerful and fully-integrated analytics toolset that enables them to efficiently score patients, reduce claims denials, increase patient collection rates and capture clinical insights. Sift MD's technology employs artificial intelligence, proprietary text mining technology, and machine learning on claims denials and patient behavior. To learn more, visit http://www.siftmd.com.
About The Winnebago Seed Fund
The Winnebago Seed Fund is a venture capital fund based in Neenah, Wisconsin, with an emphasis on seed investments in startup companies throughout Wisconsin. The Fund's primary purpose is to generate investor return by partnering with talented entrepreneurs to rapidly grow their businesses. For more information visit http://www.winnebagoseedfund.com.
SOURCE Sift Medical Data