Company Description
Avizia is a cloud-based telemedicine platform that combines video collaboration devices with clinical workflow management software, focused on serving the health system marketplace. The Company’s end-to-end platform drives significant efficiencies in care delivery and connected care for its hospital clients in numerous use cases including telestroke, emergency medicine consults, behavioral health, urgent care, e-visits, and skilled nursing. Avizia has strong traction with its end customers, serving 8 of the top 10 and 15 of the top 25 IDNs, including more than 400 hospitals.
Objectives
Largely funded by angel investors since its spin out of Cisco in 2013, TripleTree was engaged by Avizia to assist in securing a growth capital investment to support its roll out of its telemedicine software offering. The Company sought to secure an investor base that understood the value of its platform which combines both hardware and software in delivering its core value proposition to health systems – allowing providers to collaborate and enabling them to connect with patients regardless of physical location.
Results
Avizia received an $11 million Series A investment from Blue Heron Capital, Lavrock Ventures, NextGen Venture Partners, Middleland Capital, Waterline Capital and Blu Ventures. Lead investor, Blue Heron, distinguished themselves through their deep understanding of the emerging hospital-based telemedicine opportunity and the healthcare technology marketplace in general.