VEDA Data Solutions raises another $1 million, plans hiring - Technical.ly DC

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Feb. 21, 2018 7:50 am

VEDA Data Solutions raises another $1 million, plans hiring

It's the second million-dollar raise in five months for the health IT startup.

Meghan Gaffney Buck presenting at the#Patient2Consumer Challenge.

(Courtesy photo by Michael Kennedy)

VEDA Data Solutions closed on its second round of funding in five months.

The startup, which makes a platform to help keep healthcare provider directories accurate, raised $1 million in seed funding, led by New Dominion Angels, according to a statement. Also participating were Riverbend Capital and Vidinovo. That follows a $1 million seed round in the fall, which was also led by New Dominion Angels.

Founded by Meghan Gaffney Buck and astrophysicist/CTO Bob Lindner, the company is seeking to introduce its platform to more health systems and insurers. It updates healthcare directories every 24 hours to make sure data about doctors and providers is accurate, and does not require a dashboard to run. Buck has said that inaccurate data in directories is a pervasive problem, and collectively costs insurers $3 billion.

Around the time the round closed in the fall, Buck won the Vinetta Project’s Venture Challenge after giving her first public pitch earlier in the year, and the company entered an incubator program led by MedStar and 1776.

The team is now at 15 people and looking to grow its dev and UX teams, according to the statement. The company is looking to hire four developers in addition to growing its sales and marketing team at offices in D.C. and Madison, Wisc. (Here’s where to meet them next week). Additional positions are expected to open in March.

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