Innovative Collaboration in Healthcare Fundraising
In Atlanta, Georgia, on December 15, Patientory, Inc., a healthcare data startup, is partnering with students affiliated with the Environmental, Social, and Governance (ESG) Initiative’s Wharton Impact Venture Associates (WIVA) for a joint effort in capital fundraising.
The WIVA team focuses its investments exclusively on WeFunder, where Patientory has already achieved a fundraising goal of $50,000. WeFunder is a crowdfunding platform that allows non-accredited investors with limited capital to support early-stage startups with contributions as low as $100.
Investors supporting the company participate through a Simple Agreement for Future Equity (SAFE), which entitles them to acquire equity in the company later if it decides to issue shares in a future financing round.
Addressing Fragmented Healthcare Data
WIVA students played a crucial role in connecting Patientory with WeFunder by identifying significant challenges related to fragmented healthcare data. Around 40% of American adults struggle with chronic illnesses, leading to their healthcare data being dispersed across multiple systems. The storage of patient data by hospitals and clinicians in silos makes efficient sharing difficult. As a result, about 80% of healthcare data remains unavailable, hindering the delivery of quality patient care.
Patientory AI Development through Blockchain
Patientory has introduced an innovative healthcare AI and data platform powered by blockchain technology to address data accessibility challenges in the industry. The platform enables patients to control their health information and offers two solutions:
- The Patientory Consumer Wallet provides a secure way for patients to store, share, and monetize their health data.
- The Neith Enterprise Dashboard serves as an analytics portal for healthcare stakeholders to extract insights from shared and de-identified consumer health data on the Patientory blockchain network.
By providing a secure and user-friendly platform, Patientory leverages AI to deliver personalized recommendations, help individuals enhance their well-being, and facilitate matching consumers with suitable clinical trials and cost-effective medications.
Investing Experience for WIVA Students
Talia Cohen, a WIVA student from the class of W’24, recognized Patientory’s potential to improve healthcare outcomes and positively influence patients’ lives. Cohen’s team was impressed by Patientory’s financial sustainability, subscriber base exceeding 45,000, and over $4 million in pharmaceutical clinical trial contracts secured.
WIVA offers students hands-on experience in impact investing by guiding them through identifying startups with significant impact potential. As part of this educational journey, WIVA students conduct thorough financial and impact analyses, interview founders, and facilitate connections with potential investors.
Hot Take: Revolutionizing Healthcare Data Management
Patientory’s collaboration with WIVA showcases an innovative approach to capital fundraising for healthcare startups. By leveraging blockchain technology and AI, Patientory addresses the challenges of fragmented healthcare data and empowers patients to control their health information. This initiative has the potential to revolutionize healthcare data management by enabling secure sharing, personalized recommendations, and improved patient care outcomes. With the support of WIVA students and WeFunder investors, Patientory is poised to make a significant impact in the industry while offering valuable investment opportunities.
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