Tech Firm, 4D Healthware, Accelerates Its Pursuit Of Closing Healthcare Gaps With New Round Of Funding
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2Flo Ventures, LLC and Portfolia invest $1 million in the fast-growing telehealth provider
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CHICAGO, Oct. 12, 2021 /PRNewswire/ -- Telehealth leader, 4D Healthware, is on a mission to provide quality healthcare to all with a keen interest in providing services to the poor and disadvantaged. The COVID-19 pandemic shed light on the nation's gaps in health equity and the hardships present within many minority communities. 4D Healthware withstood the disruptions caused by the pandemic to aid its patients through trying circumstances. With no signs of slowing down, the Chicago-based company recently secured a $1 million investment from the partners of 2Flo Ventures, LLC and Portfolia to continue its charge of realizing a more inclusive healthcare system.
4D Healthware provides telehealth as an essential commodity, meant to broaden the scope of healthcare. Its enhanced telehealth technology has an easy-to-use device and can be integrated with any EHR system quickly, efficiently and with minimal disruption. It can also reduce hospital emergency visits by 25% and delivers a 95% retention rate among engaged patients. The platform allows secure, HIPAA compliant, two-way, 24-hour communications.
"We decided to give our support to 4D Healthware because they have a clear vision and purpose . . . to educate and support disenfranchised groups by leveraging technology to address social determinants of health and health disparities in a more innovative approach to service delivery," said Paul Burton, General Partner at 2Flo Ventures, LLC. "Their company is working to eliminate healthcare inequities that plague underserved communities across this country. We believe they can do it."
According to 4D Healthware CEO, Star Cunnigham, she garnered support for 4D Healthware's telehealth initiatives as she examined her own healthcare experiences.
"I was once affected by the lack of continuity of care within our healthcare system. Lack of access to community resources and educational tools quickly surfaced as points of concern for me," she added. "I was fortunate enough to have a network of people that I could call on to help me navigate the healthcare system. Telehealth and the technology that comes with it provides a bridge for many who don't have the kinds of resources I did at the time."
With strong financial backing from investors and partnerships with Medicare, 4D Healthware plans to ensure that their technology and hardware will be distributed to the targeted areas of underserved communities to supplement trips to the doctor's office.
In conjunction with these efforts, 4D Healthware formed an alliance with T-Mobile. The union has resulted in T-Mobile contributing 4/5G cellular network technology to support internet connection in medically underserved areas of approximately 500,000 patients where remote health is the only option. Functionalities of the devices include biometric data collection, cellular enablement and real-time correspondence with a qualified healthcare professional.
"We're going to see a vibrant telehealth sector for the foreseeable future and we believe our investment will allow 4D Healthware to continue leading the industry with innovative strategies that ultimately save lives," said Portfolia Managing Partner, Daphne Dufresne.
As a result of the overwhelming support from healthcare providers and patients, Cunningham has prioritized distributing educational materials and proper PPE supplies to families in the company's network. She says 4D Healthware's aim is to provide inclusive support and resources to all communities nationwide regardless of neighborhood or social status.
"Our company embraces a collective conscious across communities, a mantra that is especially relevant now as our healthcare experiences shape our global conscious during a pandemic," said Cunningham.
Usage of telehealth increased significantly in 2020 since the pandemic began impacting the U.S. last March. Usage peaked during April of 2020 when it comprised 13% of commercial insurance claims according to FAIR Health, an independent nonprofit that collects data for and manages the nation's largest database of privately billed health insurance claims.
ABOUT 4D HEALTHWARE:Founded in 2012, Chicago-based Healthware Global Services F.C. Inc. DBA 4D Healthware is a fast-growing healthcare technology company that develops preventative technology that can remotely monitor and predict shifts in an individual's health. The company has been recognized as a rising star in the healthcare tech space by globally respected publications including Inc. Magazine and Vanity Fair. 4D Healthware has also been listed in Crain's Chicago Tech 50. For more information visit https://www.4dhealthware.com/
ABOUT 2 FLO VENTURES, LLC:2Flo Ventures is an early-stage healthcare investor and start-up studio that combines an expansive ecosystem with a special investment thesis and a critical social mission. We are focused on advancing innovations that impact the disenfranchised while also addressing the lack of African American participation within healthcare innovation. We believe that our nation's glaring health disparities are a by-product of inadequate representation of AAs within the C-Suite level of VC backed healthcare startups. 2Flo Ventures holds the promise to be part of the solution to our health disparities and provide an attractive return to investors.
ABOUT PORTFOLIA:Portfolia designs investment funds for women to back innovative companies for returns and impact. Combining the professional management and diversification of a venture fund with the engaging experience of angel investing, Portfolia focuses on opportunities in high-growth segments that are routinely undervalued or poorly understood by traditional venture capital. Each fund enrolls 249 investors who commit a minimum of $10,000, which is diversified across up to 10 entrepreneurial companies. Portfolia's eight venture funds have made 36 investments in 29 companies and have had two significant exits since its initial fund founding in December 2015. Portfolia is now ranked in the top quartile of all venture funds in the U.S.
MEDIA CONTACTMichon EllisClout LLCmichon@cloutllc.com
SOURCE 4D Healthware
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