Patientory Inc. Partners with Wharton Students in Capital Raise Agreement
Patientory Inc. has partnered with the Wharton Impact Venture Associates (WIVA) students in a capital raise agreement. This partnership allows the students to invest in the healthcare blockchain company at a future date, contributing to the development of Patientory’s solution to data accessibility issues in the industry.
Introduction to Blockchain-based Healthcare
The WIVA students entered the world of blockchain-based healthcare through their partnership with Patientory Inc. The two organizations connected on WeFunder, a crowdfunding platform that enables non-accredited investors to support early-stage companies. Patientory Inc. has already raised over $50,000 on WeFunder, and WIVA exclusively invests through this platform.
Investing in Early-Stage Companies
When investing in an early-stage company through WeFunder, the investor receives a Simple Agreement for Future Equity (SAFE). This agreement grants them the right to obtain equity in the company at a future date if it sells shares in a future financing round.
Wharton Impact Venture Associates Program
WIVA is an impact investing educational program that originated from Wharton University. Its focus is on identifying early-stage companies with significant potential in ESG sectors. The program provides education, mentorship, and hands-on training for students to discover impactful companies. WIVA also facilitates connections between entrepreneurs and potential investors through detailed research and analysis.
Democratizing Healthcare Data on Blockchain
One of the challenges WIVA identified is the fragmented nature of healthcare data, particularly in the U.S. Over 80% of healthcare data is unstructured and not readily available, hindering quality patient care. Patientory Inc., established in 2015, aims to address this issue through its blockchain-based healthcare AI and data platform. The platform includes a secure Consumer Wallet for patients to store, share, and monetize their health data. Additionally, the Neith Enterprise Dashboard allows healthcare stakeholders to access shared and de-identified consumer health data.
A Bright Future for Patientory Inc.
WIVA student Talia Cohen was impressed by Patientory’s impact on patients’ lives and its financial sustainability. With over 45,000 subscribers and revenue exceeding $4 million, Patientory Inc. is poised for further growth in the future.
Hot Take: Advancing the Democratization of Healthcare Data
Patientory Inc. and the ESG Initiative’s WIVA partnership demonstrate the commitment to advancing the democratization of healthcare data. By leveraging blockchain technology, Patientory aims to solve data accessibility issues in the industry, empowering patients and improving overall healthcare outcomes.
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