Bardavon bid to revolutionize workers’ compensation just got a $15 million boost
November 17, 2018 | Startland News Staff
Timing is everything, said Matt Condon, announcing this week $15 million in new financing to help scale his Overland Park-based company’s reach into markets from coast to coast.
“Our national expansion is coming at a time when employers across the country are recognizing that they must play a lead role in the transformation of health care,” said Condon, founder and CEO of Bardavon Health Innovations.
Bardavon’s physical medicine clinical analytics platform for workers’ compensation already is active in 21 states, according to the company, which was named one of Startland’s Top Kansas City Startups to Watch in 2018. Click here to learn more about why Bardavon was selected.
The four-year-old company’s latest expansion push comes thanks to $15 million in new funding led by NewRoad Capital Partners, based in Northwest Arkansas, which saw proven success in the venture-backed, cloud-based clinical intelligence and analytics of Bardavon, Condon said.
“This investment confirms that change is coming to health care, that workers’ compensation programs will help catalyze the transformation to quality-based medicine, and that Bardavon is well-positioned to lead that charge,” he said.
Health care cost containment strategies of the past simply have not worked, added Paul Morris, COO of Bardavon.
“We spend more each year on health care yet are less satisfied with the experience and outcome. Bardavon is changing that,” he said. “Our data-driven solutions and clinical expertise optimize care for each injured worker, enable the provider community to compete on quality, and improve the productivity of the workforce for our employers.”
The Overland Park firm — among the portfolio companies of the KCRise Fund, which has now invested more than $6 million across more than a dozen scaling Kansas City ventures — is poised for explosive growth, said Clete Brewer, managing partner of NewRoad Capital Partners in Rogers, Arkansas.
“Having followed Bardavon’s progress for three years and observed the breakthrough results in quality outcomes they have achieved with national employers, we are excited to be the lead investor that fuels their national expansion,” Brewer said.
Featured Business
2018 Startups to Watch
stats here
Related Posts on Startland News
Raaxo takes shape after pivot from Aphrodite Bra Co’s body scan concept
Despite its use of body-mapping technology, Aphrodite Bra Company wasn’t the right fit for customers’ needs, said Carlanda McKinney, founder of the newly rebooted custom intimates company Raaxo. “Aphrodite had been stuck in the starting-up space,” she said. “We’d never really gotten enough sales or enough traction to say, ‘We’re launched,’ or, ‘We’re in business.’…
Serial entrepreneur leverages past success for Bridge Space coworking project
Bridge Space will be more than a coworking office, Ben Rao said. He hopes it will be the heart of Lee’s Summit’s blossoming entrepreneurial ecosystem. “My No. 1 goal is to accelerate entrepreneurs’ success,” said Rao, Bridge Space founder and a serial entrepreneur himself. “It’s an opportunity for me to build something that would make…
KC mom’s humble entrepreneurial journey draws on healing power of creativity
Huddled in her parents’ basement, between the cribs of her crying twin babies, Keliah Smith began to draw. She was unemployed and feeling emotionally drained. The relationship with her children’s father had soured. Her escape: the stylus and smartphone in her hands. The Kansas City mother drew what she didn’t see in the mirror, she…
Harvard University recognizes KCMO digital inclusion map
Kansas City’s geographic work to illustrate the area’s digital divide earned high praise from a prestigious university. Harvard University recently highlighted the City of Kansas City, Missouri’s Digital Inclusion map, a tool that — at a block-by-block scale — detail residents’ access to internet connectivity overlaid with poverty levels. “This visualization was chosen as Harvard’s…