TruMed Systems Graduates EvoNexus Incubator with $5.5M in Series B Funding
SAN DIEGO, Jan. 13, 2015 /PRNewswire-USNewswire/ -- EvoNexus a San Diego-based incubator for technology startup companies, today announces the graduation of TruMed Systems, creators of the turnkey Vaccine Management Solution AccuVax.
TruMed Systems was conceived on the premise that bringing automated dispensing to the physician's office can save lives and deliver economic benefit to all stakeholders. The first TruMed solution is focused on vaccine storage and delivery and will provide physician offices a turnkey Vaccine Management Solution unlike anything else available in the market.
TruMed Systems entered the EvoNexus program in April 2013 and utilized the various benefits the program provides including office space, mentorship, potential customers and partners and access to educational start up focused programming. All benefits are provided at zero cost to the entrepreneur.
"TruMed Systems joined EvoNexus with a great team working to create a method that gave healthcare providers the opportunity to spend more time with patients and less time on the administrative side," said Rory Moore, CEO of EvoNexus. "They created a product that fits the needs of healthcare providers, as well as regulatory compliance standards, and are another example of healthcare expanding in the region."
While part of the incubator, the company completed a $3.2M Series A funding round in 2013 and a $5.5M Series B funding round in 2014. Additional financing enabled the company to expand its product offering and rely on San Diego based firm D&K Engineering for its production.
"EvoNexus provided us valuable resources at a critical time in our growth including professional office space and conference rooms for client pitches and client meetings, space to scale and train our team, access to mentors, educational events and networking, speaking opportunities and introductions to major strategic partners," said Bob Manning, Chief Product Officer "The opportunity to be part of the EvoNexus incubator accelerated our company's growth and supported us through two rounds of funding, the growth of our business, and the development of our product."
TruMed Systems will be moving into an Irvine Company office space in the UTC area. Irvine Company is one of the largest sponsors of EvoNexus providing roughly 31,000 square feet of office space in kind annually.
About TruMed Systems
TruMed Systems' mission is to reduce cost and improve outcomes within healthcare by creating innovative, efficient, effective point-of-care supply management systems. TruMed solves laborious challenges associated with practice management by providing holistic, purpose-built systems that effectively and efficiently manage inventories, storage and handling at the point of care. For more information, visit www.trumedsystems.com
About EvoNexus
EvoNexus is the business incubator of CommNexus and San Diego's only community-supported, fully pro-bono technology incubator. EvoNexus provides full services – furnished office space, domain experts and mentors, and the opportunity to leverage our wide network of business and VC contacts – to start-up companies striving to achieve sustainability. For more information, visit www.commnexus.org/incubator/
Media Contact:
Michele Yoshioka
858-768-5059
[email protected]
Director of Programs
CommNexus/EvoNexus
SOURCE CommNexus San Diego/EvoNexus
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