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iPad EHR startup drchrono raises $2.8 million
Posted On January 27, 2012
DrChrono, which offers one of the first electronic health records (EHR) apps built specifically for the iPad, raised $2.8 million this week led by return-backer Yuri Milner, founder of DST Global, with participation from one of Google’s search quality leaders, Matt Cutts. The investment builds on the $650,000 Milner contributed to last summer. A month before that, DrChrono announced its first funding, $675,000, which came from a variety of venture firms as well as Google’s Cutts.
In its most recent announcement DrChrono stated that it has signed up 50,000 physicians to date and records for 400,000 patients now.
The DrChrono app offers an ONC-certified (meets stage 1 meaningful use criteria) EHR that enables users to track visits, monitor prescriptions, schedule visits, review and markup medical images. iPad 2 users can take images or videos that can be added to patient records for comparisons during later visits. DrChrono also offers a patient check-in app, called OnPatient, that aims to replace traditional paper-based check-in processes in the doctor’s office waiting room.
While most of the EHR app’s features are free, DrChrono makes money on its premium features, like ePrescribing, speech-to-text, and medical billing services. DrChrono has a partnership with M*Modal for the speech-to-text functionality. In late 2010 DrChrono said that it had tapped Remedy Systemsto bundle in its ePrescribing application.
Total funding for DrChrono now tops $4 million. Its complete list of investors includes Yuri Milner, founder of DST Global, venture capital firms General Catalyst, Charles River Ventures, 500 Startups, Gmail creator and FriendFeed cofounder Paul Buchheit, Google’s Principal Engineer Matt Cutts, and the Start Fund.
DrChrono was founded by CTO Daniel Kivatinos and CEO Michael Nusimow. Kivatinos graduated with a Masters in Computer Science in 2003 and held various developer positions before founding DrChrono in 2008. Before DrChrono Kivatinos was a senior applications developer at online events company CommPartners, where he worked for three years. Before founding DrChrono Nusimow was a software engineer at Bloomberg LP for seven years. Both Kivatinos and Nusimow studied at The State University of New York at Stony Brook.
DrChono announced it had joined Yuri Milner’s Y Combinator incubator program in late February 2011.