Klinify, a document management system that helps private medical clinics manage patient records while preserving their existing workflow, today announced that it has closed a S$770,000 (USD$604,000) seed funding round led by Jungle Ventures through Singapore’s Technology Incubation Scheme under the National Research Foundation (NRF). The round was supported by angel investors from the medical industry in Singapore.
The investment will be used to grow the team at Klinify, expand the functional prototype that has already secured backing from customers into a fully-fledged product and extend the support service for clinics.
Klinify’s founders developed their business through the JFDI.Asia accelerator program, securing an introduction to their new investors at the program’s demo day held mid last year.
Krishanthan Surendran, Co-founder and CEO of Klinify, said: “It was obvious Jungle Ventures’ portfolio companies offered great synergies with Klinify. Investment is a long-term people relationship too and we found that we connected immediately with the team at Jungle and their partners. Those relationships, networks and experience are exactly what we are going to need as we bring medical clinics in Asia to the forefront of technology.”
Klinify’s appeal to doctors and clinic managers is that it removes the challenge of managing paper-based patient records without requiring doctors to change their workflow process. It takes just 20 minutes to set up application, a scanner, and tablets that substitute for paper. The intuitive technology enables clinicians to start using the system immediately, with very little training or downtime. Klinify is currently actively developing relationships with major medical groups.
Dr C Sivathasan, a leading Cardiothoracic Surgeon in Singapore, said: “ When I tried the tablet application, I instantly knew Klinify would revolutionize medical annotation. Existing EMR solutions address practice inventory and accounts management, but Klinify is the first to provide a smooth solution in managing patients’ medical records without changing the workflow process. I am excited to see how the product and the team will develop over the next year.”
Amit Anand, Co-founder and Managing Partner at Jungle Ventures, said “Every other profession introduced screens and keyboards to manage information 20 years ago. Clinics have held back because doctors don’t want to be turned into data entry clerks: they’re there to care for patients. We are impressed that Klinify has put so much energy into really understanding the problems faced by their customers and the many stakeholders involved in medical records management.”
Information for Editors
Klinify helps doctors migrate to electronic records using tablet computers in a way that avoids them needing to change their workflow. This makes migration to Klinify’s system swift and painless, minimizes the required training and downtime. Because it brings patient records into the electronic realm it unlocks significant opportunities to integrate clinical operations seamlessly across partners. The business was established by Nishanth Sudharsanam and Krishanthan Surendran from the National University of Singapore and developed to investment readiness through the JFDI.Asia accelerator program held in Singapore during early 2013.
Screenshots and other media related to Klinify are available here:
Jungle Ventures (http://www.jungle-ventures.com)
Jungle Ventures is a Singapore based, entrepreneur backed venture firm that funds and helps start-ups scale across Asia Pacific.
Jungle works hand in hand with entrepreneurs through a strong advisor and principal network made up primarily of founders and specialist operating partners who can uniquely help start-up teams with the information and resources they need to grow their ideas and business.
Current investments include financial services comparison platform iMoney, mobile commerce app ShopSpot, micro-lending platform Milaap, social payments platform fastacash, digital media platform ebus (acquired by IMD Group) and vacations rental site Travelmob (acquired by Homeaway).
Jungle invests in global start-ups that are solving problems relevant to Asia Pacific markets and has investments in US, Singapore, India, Australia, Thailand, Malaysia, and the Philippines.
For more details on investments: http://www.crunchbase.com/financial-organization/jungle-ventures
Contact: 306 Tanglin Road, Phoenix Park Office Campus, Singapore 247973
+65- 6423 9516
Media Contact: Namita@jungle-ventures.com
JFDI.Asia is Asia’s #1 startup business accelerator program, the first of its kind in the region and first to join the Global Accelerator Network set up by US accelerator pioneer TechStars. It takes teams of entrepreneurs from idea to investment in 100 days. In 2012, more than 60% of teams completing the JFDI.Asia program succeeded in raising an average S$650k per team.
Details of the accelerator program and the terms under which JFDI.Asia invests in startup businesses are set out at http://jfdi.asia/accelerator.
The startups accelerated through the JFDI.Asia program to date are listed here: http://jfdi.asia/portfolio.
JFDI.Asia’s next accelerator program begins 20 March 2014 and applications are now open for startup teams with strong potential.