Tridiuum, a venture-backed maker of a software platform that tracks behavioral health indicators, just raised a $9.5 million Series B round with an eye to scaling its sales, product and marketing operations.
The round was led by New York-based Sopris Capital, with participation from Fresenius Medical Care Ventures, Silicon Valley Bank, Ben Franklin Technology Partners of Southeastern Pennsylvania (which previously joined the company’s Series A raise) and Martinson Ventures.
Just two weeks ago, the company relocated its headquarters from Wayne to a 12,000-square-foot hub at 1650 Arch St. in Center City. From its new offices, CEO Mark Redlus — a serial tech CEO with a background in health tech and clean energy — said the funding will let Tridiuum ramp up its sales and marketing teams, as well as invest in the company’s product, which is currently used by some 4,400 patients a day.
“I joke that we’ve been in the closet, hiding under the coats, so this is kind of our coming out party,” Redlus said.
The company employs 26 full-timers and another 40 full-time equivalents, the majority out of its Philly office. By this time next year, Redlus said those numbers will double as it seeks to set up a regionalized sales force structure to increase its outreach to health centers and practitioners.
How does the company make its pitch to health care providers? Redlus said Tridiuum1, the company’s platform, is the result of some 40 research studies on how to engage patients while tracking their behavioral health markers. Thus far, some 2,500 providers at 600 health care facilities use the system as an aid to traditional therapeutic techniques.
“Our platform can assess patients for indicators of depression, post-traumatic stress disorder (PTSD), drug-related issues and others,” Redlus said. “It can score, in real-time, based on self-reported assessments, how well a person is functioning.”-30-
Why this Radnor-based VC firm thinks impact investing is on the rise
Philly startups need more early-stage investments to compete
Carisma Therapeutics raised nearly $60M in Series A funding. Now what?
Meet these 10 hiring companies at Super Meetup
PA Biotech Center just announced a $50M investment fund and accelerator
A 3D geospatial product is spinning out as its own company with $5M Series A raise
This North Philly-based ‘ugly’ produce startup just raised $16.5M
Verizon is looking for the brightest ideas on how to use its 5G technology
Sign-up for daily news updates from Technical.ly Philadelphia