Thursday April 23, 2015 0 comments
DENVER -- BurstIQ, the first company to spin out of the 10.10.10 health innovation program in February, announced it has received seed round funding from Colorado Springs-based PV Ventures.
The amount of the seed funding was not disclosed.
BurstIQ’s business model is built on creating a secure cloud platform to power the digital health revolution, the company said.
“The combination of sensors, mobile and platform will make health care personal again, and it will also generate a lot of sensitive data,” said Frank Ricotta, BurstIQ CEO.
“We believe data should be secure and private – that is our first priority. We also believe that the need for a highly secure platform shouldn’t limit the benefits and use of data. Data needs to be sharable, accessible and usable.
“Insights derived from the data will drive individual empowerment, personalized care relationships, better outcomes and reduced costs.”
“This is a game-changer for digital health data access, and we believe that the innovative security features that are at the core of the product can extend beyond digital health, providing a foundational capability to protect an individual’s privacy,” said Bill Miller, PV Ventures managing director.
“Health data is a ‘wicked problem,’ one of 10 we selected for our inaugural 10.10.10 health program this past February,” said Tom Higley, 10.10.10’s founder and chairman.
“With the creation of BurstIQ, Frank becomes the first of our 10.10.10 CEOs to accept the challenge of developing a market-based solution to the health data problem. The market is crying out for an innovative and secure health data platform, and I believe the BurstIQ platform can be that solution.”
"The Colorado Health Foundation partnered with 10.10.10 as part of our efforts to explore an innovative philanthropic approach with the potential to spark market-based solutions to wicked problems in health,” said Jesse Wolff, director of private sector initiatives for CHF.
“We are excited to see BurstIQ step up as the first company out of 10.10.10 to accept the challenge and embrace the opportunity that this problem represents.”