NEW YORK--(BUSINESS WIRE)--Vericred, Inc., a healthcare startup bringing accuracy, efficiency and transparency to healthcare provider data, has completed a seed round raising $1.125 million through the sale of Series Seed Convertible Preferred Stock to accredited investors. The capital will be used to launch the Company’s first product and to expand its healthcare provider data repository.
“We have made tremendous progress over the last three months, building out our core team and developing our first product which is due to launch next month,” said Michael W. Levin, Co-founder and CEO of Vericred. “The healthcare provider data powering this innovative consumer website will be leveraged for credentialing and a host of additional provider-centric applications.”
Provider data is central to a variety of insurance, patient safety, risk management, compliance and regulatory functions. However, the collection and verification of this information is highly fragmented, costly and inefficient. Vericred’s solutions enable healthcare providers, facilities and insurers to improve health care delivery while reducing administrative burden and cost. The Company was launched in March 2014 and currently consists of a team of six.
This press release contains certain forward-looking statements about our goals and prospects within the meaning of the Private Securities Litigation Reform Act. These statements are based on management’s current beliefs and expectations about future events and financial trends that may affect our financial condition, results of operations, business strategy and financial needs and are subject to risks and uncertainties. Actual results may differ materially from those included or implied in these statements due to a variety of factors. Any forward-looking statements contained in this release speak only as of the time made and we assume no duty to update them, whether as a result of new information, unexpected events, future changes, or otherwise.