Wednesday, 30th of December 2009 at 06:47:09 PM
Houston’s favorite venture capitalists are at it again, funding an Austin/Houston startup company in the very hot bio-informatics industry that marries software and healthcare.
Cgate Health creates software to provide simple, flexible and cost effective Electronic Health Record (EHR) solutions. Unlike the current landscape of complex, incomplete and expensive Electronic Medical Record (EMR) systems, Cgate’s proven software delivers integrated access with a consolidated view of the complete patient record – a gateway to the health record. Healthcare providers and commercial vendors use Cgate’s platform to achieve their goals of productivity, quality and compliance with Federal mandates.
Both CEO Rob Donnelly and CTO Bryan Haardt have a long history of entrepreneurship and startups in Houston between them. Rob was the COO of the Houston Technology Center and later helped found Genesis Park, an early stage venture and private equity investment group. Bryan is no stranger to tech startups, acting as the HTC’s first CTO then going on to become the founder of 10X Labs, a very successful software developer. They are both DFJ Mercury Venture Advisors
The company will be implementing software for the healthcare space via some Fortune 5 (not 500) partners and hopes to fulfill the promise of truly integrated and efficient healthcare system that patients, providers and insurers can use properly.
The Austin Business Journal got some of the facts wrong because they misread a recent SEC filing, since the vehicle for the deal was an old company, but DFJ did make a seven-figure investment in CGate.
CGate Health Inc. closed an $88,200 round of financing.
The Austin-based health records mobile application developer received the capital from a lone investor, according to a Dec. 29 filing with the U.S. Securities and Exchange Commission.
CGate, which was founded earlier this year, is listed as a portfolio company of DFJ Mercury, a Houston-based venture capital firm. DFJ is vested in other Austin tech companies including ActaCell Inc., the developer of lithium ion batteries, and Illumitex Inc., which develops light-emitting diode, or LED, technology.
CGate CEO Robert Donnelly couldn’t be reached for comment.”
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