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
GUILDit feeds starving artists with tools to monetize their crafts
If good entrepreneurs are money-motivated, great ones know that it’s going to take more than that to be successful. In contrast, artists oftentimes develop a “love-hate relationship” with money. As anyone who has seen a “starving artists” moving van can attest, an artist’s passion doesn’t always lead to food on the table. For artists whose…
Kansas City streetcar app update arrives with roaring ridership
Has the popularity of the Kansas City Royals found its match with the Kansas City streetcar? No — probably not. But if you live in or around the City of Fountains, you probably know that its new downtown streetcar is quite popular. Since opening day, the streetcar has carried a total more than 645,000 passengers…
Fund me, KC: Pawns and Pints launching board game bar in Crossroads
Startland News is continuing its segment to highlight area entrepreneurs’ efforts to accelerate their businesses. This is an opportunity for entrepreneurs — like Pawns and Pints co-founder Edward Schmalz — to share their stories to gain a little help from their supporters. Back Pawns and Pints’ Kickstarter here. Who are you? My name is Edward…
Political tech vet to lead KCK innovation efforts
A political tech vet is leading new innovation efforts in Kansas City, Kan. The Unified Government of Wyandotte County and Kansas City, Kansas on Monday welcomed Alan Howze on board as their first chief knowledge officer to oversee the government’s IT Department, the 311 service center and mapping group. A former Virginia gubernatorial director and…