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  • eVariant raises $5.3 Million from Health Enterprise Partners in Round A of Funding

    November 25th, 2011 4 comments

    It has been rumored lately that the actual economic conditions are no longer favorable to businesses which are trying to raise capital. Although there is some truth to it because it is a bit more difficult for investors to raise the needed funds for sustaining lots of businesses, it is not at all true that venture capital has become history. As a matter a fact, we can see that all the fine businesses that activate on the market have managed to raise funds for development and expansion. Moreover, although there are several activity fields which are preferred by investors, we can notice that there are still available funds for any type of business.

    One of the activity fields investors really appreciate at the moment is the lighting one. With all the concerns related to the limitation of natural resources, it is only normal for investors to sustain the businesses which provide a solution. This is how Solaris Lighting Inc., the LED lighting technology company, has managed to raise $2.5 million in series B of funding from FreshTracks Capital LP, Long River Ventures and Gorann. In the series A of funding, the company has managed to gather $638,000 of a planned $2.6 million fund raise. The company produces spotlight by the means of LED technology which requires only a forth of the energy which is usually needed. For the moment, the company is addressing commercial and industrial users, already having customers such as Timberland and the Smithsonian American Art Museum.

    Another field of activity which is preferred by investors is the IT one. Anything that seems to have potential for development in the years to come is really wanted by investors at the moment. This is how eyeSight Mobile Technologies, the gesture recognition technology platform from Israeli, has managed to raise $4.2 million in the series B of funding from CEVA, Inc., along with Mitsui & Co Global Investment Ltd. Eli Talmor, the largest investor in the company, the founder and the chairman at the Coller Institute of Private Equity at the London Business School, also participated to this funding round. EyeSight intends to use the amount raised in this funding round for expanding the company towards new markets, especially in Japan.

    The health department will always receive funding, although this field of activity does not necessarily receive the same interest from the part of investors like others. However, good health care business projects manage to raise capital. This is the case of eVariant LLC, the health care IT company, which has recently managed to raise $5.3 million in a first institutional funding round which has been led by Health Enterprise Partners of New York. The company has launched a software platform called HealthConnect which delivers under a SaaS model which combines CRM, marketing automation, analytics and data integration services which are used in order to create a PRM (patient relationship management) system to be used by hospitals and other health care systems. The company is going to use the money from this funding round in order to have a greater impact on the Integrated Delivery Network and the Academic Medical Center markets.

    All these examples prove that the business of raising capital is not dead due to the financial crisis, but that investors are a little more careful when it comes to selecting the businesses they want to fund. So, all you have to do in order to receive capital is to have a great business plan and a business idea which suits the necessities of the market.

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