RightCare Solutions raises $5M [Startup Roundup] - Technical.ly Philly

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Nov. 20, 2013 8:00 am

RightCare Solutions raises $5M [Startup Roundup]

There's a new software-focused private equity fund in town, MeetMe is number three of Deloitte's list of quickly-growing businesses and NewSpring Capital buys a Richmond, Va.-based wealth management technology company.

WHO’S GETTING FUNDED?

RightCare Solutions, the Horsham-based company that aims to prevent hospital readmissions, raised a $5 million Series B, according to a release. The round was led by existing investors Princeton-based Domain Associates and New York City-based Compass Partners.

RightCare Solutions brings to market a technology that was developed for a decade by a Penn nursing professor. It’s also a startup that participates in Penn’s UPstart program, which helps professors develop startups around their research. Before RightCare Solutions’ $5 million raise, Penn’s 56 UPstart companies had raised more than $10 million, so this is a big round for an UPstart company. RightCare moved from Fort Washington to Horsham this past summer because it outgrew its former office, spokeswoman Morgan Dub Karpo said. It employs 14.

Edison Ventures invested $5 million in Parsippany, N.J.-based RedVision, a property research company it has previously invested in, according to a release. The $5 million was part of an overall $10 million round.

NewSpring Holdings, the buying arm of Radnor investment firm NewSpring Capital, bought Richmond, Va.-based wealth management technology company Wealthcare Capital Management for an undisclosed amount, the Inquirer reported. The purchase is intended to help the company grow, the Inquirer reported.

Meet CaseWinn, a new Radnor private equity firm that will focus on investing in software and tech companies, PE Hub reported. CaseWinn’s founders Greg Case and Paul Winn will leave LLR Partners, the private equity firm headquartered at the Cira Centre, but they’ll remain as operating partners, PE Hub reported. CaseWinn will not raise a fund to start. Instead, it has investors on call.

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WHO’S GETTING BUZZ?

Curalate is part of Urban Outfittersecommerce strategy, Business Insider reported. The Center City visual analytics company takes hashtagged photos and aggregates them on Urban Outfitters’ site.

MeetMe, the publicly traded New Hope-based social network, ranked number three of Deloitte’s list of the fastest growing technology companies or “The Technology Fast 500,” Philly Tech News reported. Find a list of the other companies that made the list here. It includes Exton insurance software firm iPipeline, Center City healthcare payment company InstaMed and Radnor software firm Qliktech.

WHO’S MAKING MOVES?

The Philadelphia Fashion Incubator is partnering with Mimoona, a DreamIt Ventures NYC company that uses crowdsourcing as a way for fashion designers to test the market, according to a release.

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