N.B. Startup eChart Healthcare Gets $200,000 Boost From NBIF In Seed Round
FREDERICTON– A New Brunswick health tech startup eChart Healthcare is closing an $800,000 seed funding round, which includes a contribution from the New Brunswick Innovation Foundation (NBIF).
The Fredericton-based company was founded by Amanda Betts, who owns and operates the Autumn Lee Retirement Home with her family. eChart offers software that connects all members of the long-term care team together, including the family, in one system that provides everyone with real-time data on a senior’s condition.
NBIF will be contributing $200,000 to the funding round.
“The best technology companies solve a clear and growing problem. That’s what eChart Healthcare does very well with its digital charting system,” said Ray Fitzpatrick, director of investment with NBIF, in a release. “The long-term care software market is expected to grow to $5.6-billion (U.S.) by 2026. eChart Healthcare is well poised to succeed in this fast-growing market.”
Betts drew inspiration for the functionality of eChart Healthcare through her experience operating a senior care home. The software she developed created a way for staff and families to receive information readily available at the point of care with real-time data on things like medication, vitals, meals, activities and even a mood tracker.
That led to pilot projects with long-term care facilities and pharmacies, and now a seed investment round. The investment from NBIF and other seed investors will support additional product development as well as sales and marketing activities.
“Moving an aging parent or relative into a long-term care facility is never easy. Our eChart platform is creating connected care that gives families and facilities access to all the important information about a loved one in a simple, easy-to-use way,” said Betts, who is also the company’s CEO. “This creates new efficiencies in care delivery and lets the staff of long-term care facilities focus their energies on caring for their residents.”