Axuall, a digital professional identity network that enables healthcare providers to share their authenticated credentials and qualifications in real-time, has closed $10.4 million in Series A funding led by Flare Capital Partners. Additional co-investors include Intermountain Ventures, University Hospitals Ventures, MedStar Health, Epsilon Health, InHealth Ventures, AV8 Ventures, JumpStart, M25 Ventures, and North Coast Ventures.
Capital from this financing will be used to accelerate R&D, implementations, sales, and marketing as the company grows its customer base of healthcare organizations.
“Led by Flare Capital Partners and representing over two dozen healthcare organizations, this financing represents a ringing endorsement from the healthcare community,” said Axuall’s CEO, Charlie Lougheed. “We are thrilled to work alongside the most innovative healthcare organizations in the world to address the workforce challenges that this space faces.”
Axuall was formed in 2018 with $3 million of venture funding to develop a national network for professional career identity that serves the needs of healthcare providers and the organizations they work with. The solution was developed and piloted with three major healthcare systems, University Hospitals, MedStar Health, and MetroHealth, and launched commercially in late 2020.