Mutual Capital Partners Invests In eBlu Solutions $11.4M Series A Round
eBlu Solutions (Louisville, KY) announced today that it has raised an $11.4M Series A round led by OCA Ventures (Chicago), with co-investors Mutual Capital Partners (Cleveland) and FCA Venture Partners’ Health Innovations II (Nashville).
Under the leadership of CEO Mark Murphy, eBlu Solutions is a digital health prior authorization software company – whose digital platform streamlines the prior authorization of expensive infusion-based specialty medications.
For patients suffering from complex, chronic conditions, the path to receiving specialty medication can be fragmented and expensive for all parties. eBlu Solutions aims to make benefits verification, prior authorization, and manufacturer co-pay assistance programs more efficient for practices that deliver physician administered infusion-based specialty medications to patients. Instead of navigating a complicated net of drug-specific online portals and insurance approvals, eBlu Solutions’ scalable and secure software platform makes the process of getting patients on life changing treatments more streamlined for medical providers.
“We’re enthusiastic to grow and continue developing our talent pool of 70+ team members. eBlu was founded with a mission to simplify the fragmented process behind benefits verification and prior authorization for infusion-based specialty medications. For patients suffering from complex, chronic conditions it is common for physicians to recommend specialty medications. Unfortunately, these medications can be costly, leading to an often-burdensome fragmented process of phone calls and faxes between physicians and insurance providers. eBlu Solutions’ secure and scalable platform helps the medical practice navigate the approval process so their patients can start treatment as soon as possible. This capital will allow us to expand our team and pursue our mission,” said Mark Murphy, CEO of eBlu.
“We’re delighted to have the support of this experienced group of Venture investors. eBlu Solutions aims to use the proceeds of the Series A to continue to grow its team and fuel the development of talent in our sales, product management, business intelligence, and software development areas,” said co-founder and CTO Nathan Fornwalt.
eBlu Solutions is a portfolio company in Mutual Capital Partners Fund III. Read more about the investment here