We are excited to announce our latest investment in InpharmD
Why We Invested in InpharmD
We recently invested in Atlanta area healthcare company InpharmD.
Their solution facilitates evidence-based care by making on-demand drug information accessible, using artificial intelligence (AI) combined with pharmacists’ expertise to make custom, data-driven responses to clinical questions and formulary requests. Here are a few reasons why we invested in this round.
We have gotten to know CEO and founder Ashish Advani over the past five years through the Atlanta Tech Village. We have seen his evolution from someone who felt the problem as a clinician, to a founder who did customer discovery and built an early product, to a leader who is building something special. It has been exciting to see the continued evolution of the team from when they spoke at our Atlanta Healthcare Entrepreneur Meetup four years ago to how they matured their capabilities and organization to sell into and support health systems. His ability to continually learn and adapt is impressive.
Hospitals usually employ teams of clinical pharmacists to help with treatment decisions and typically take over two hours per search of journal articles to find an answer. The time spent researching these decisions manually is time that could be better spent on patient care, and ensuring the most important care decisions get answers that can have tremendous impact on dollars spent and outcomes. Now with InpharmD’s technology solution, more questions can be answered correctly from more sources, staying current with the latest information to reduce time and improve decision making.
The team has always had a laser focus on customers. They built their first version to support Wellstar, and have continued to learn and evolve the solution based on customer needs. They now are trusted by over 10,000 physicians, nurse practitioners, physician assistants, and pharmacists across 10+ health systems and 100+ hospitals who consistently use the product in their workflow. Every day the InpharmD database of questions and answers grows and gets better.
We are excited to partner with InpharmD and support another great Atlanta company!