Fort Wayne-based health technology startup Xillum says it has raised a $1.1 million seed round of investment. The Software-as-a-Service company uses a series of algorithms to analyze data to identify key business metrics.
Company founder Dr. Eric Beier and chief executive officer Joe Wolfcale say they were looking for an easier and faster way to access clinical and administrative data used by various healthcare providers.
Xillum says Indianapolis-based Elevate Ventures and angel investors are taking part in this round.
“Xillum’s business intelligence platform will be significant in the radiology market by providing insights to practitioners interested in solving a multitude of operational challenges,” said Dan Meek, Elevate Ventures entrepreneur-in-residence serving Elevate Northeast Indiana.
Xillum also added the ability to track payment and revenue information so radiologists could see key business statistics in a secure online portal.
“The funding we received will allow us to continue the development of our product, to expand our client reach and grow our customer base,” said Wolfcale. “We’re grateful to all of our investors for believing in us.”