A transformative product launch from one in every of Kansas Metropolis’s main healthtech firms coincides with a significant funding spherical — marking a brand new chapter in employees’ compensation, in addition to for Bardavon’s just lately introduced new CEO, the corporate stated.
Monetary particulars of the spherical — led by WestCap and NewRoad Capital Companions, with participation from KCRise Fund and others — had been undisclosed, however Alex Benson, CEO of the main employees’ compensation and musculoskeletal (MSK) well being firm, emphasised continued participation by buyers in Bardavon‘s earlier Sequence A, B, and C raises.
The capital cements Bardavon’s dedication to the employees’ compensation {industry} and positions the corporate to greatest assist the wants of claims managers, adjusters, nurse case managers, and most significantly injured or rehabilitating employees, Benson added.
“The funding will maintain progress the corporate realized in 2023, whereas permitting us to deal with new product enhancements like Restoration+, extra referral administration enhancements and our harm prevention product suite, which makes use of wearable security sensors to foretell and forestall accidents,” he stated. “Moreover, we’ll develop our U.S.-based gross sales and advertising efforts.”
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Recovery+ — an industry-leading well being teaching platform designed to expedite restoration and improve the return-to-work course of for injured employees — is anticipated to empower injured employees by giving them a one-to-one platform to interact instantly with licensed clinicians, making certain a extra customized and supportive restoration expertise, in accordance with Bardavon. It’s also designed to lighten the load for shopper companions, payors and case directors by effectively triaging points and streamlining the care administration course of.
The brand new product is now a part of Bardavon’s PT/OT network offering, actively being adopted by present purchasers and obtainable for brand spanking new purchasers.
“Restoration+ marks a brand new chapter in employees’ compensation that places the deal with folks by offering customized, on-demand assist for injured employees in addition to streamlining the restoration course of for our stakeholder companions,” Benson stated. “Restoration+ was designed to make the therapeutic course of and return-to-work journey smoother for everybody. Early case progress outcomes present that by prioritizing our injured employees’ well being and care plans, each our purchasers and people on the highway to restoration profit.”
Darcy Howe, Ed Frindt, and Liam Reilly, KCRise Fund III
Ongoing investor assist for Bardavon — particularly from a Kansas Metropolis-based fund like KCRise — because it rolls out new merchandise like Restoration+ is heartening, stated Benson, noting the long-term relationship constructed between Bardavon founder Matt Condon and KCRise Fund founder Darcy Howe.
“It means the world,” Benson added. “Darcy and the KCRise group have supported Bardavon from its earliest days. Having their (rising) group alongside the corporate by means of this subsequent chapter is a blessing, and is one thing that was extraordinarily vital to Matt and I.”
“From the start, Bardavon was established as a Kansas Metropolis firm, based with intention and perception that healthcare might be modified for the higher with learnings and contributions from nice Kansas Metropolis establishments and entrepreneurs like Neal Patterson, Cliff Illig, David Lockton and Terry Dunn,” he continued. “KCRise is a key a part of that cloth — guiding and serving to so many early stage firms with a profile much like Bardavon’s.”
