Bardavon’s latest funding round gets a KC boost, supports Recovery+ new product rollout

A transformative product release from one of Kansas City’s leading healthtech companies coincides with a meaningful funding round — marking a new chapter in workers’ compensation, as well as for Bardavon’s recently announced new CEO, the company said.

Financial details of the round — led by WestCap and NewRoad Capital Partners, with participation from KCRise Fund and others — were undisclosed, but Alex Benson, CEO of the leading workers’ compensation and musculoskeletal (MSK) health company, emphasized continued participation by investors in Bardavon‘s previous Series A, B, and C raises.

The capital cements Bardavon’s commitment to the workers’ compensation industry and positions the company to best support the needs of claims managers, adjusters, nurse case managers, and most importantly injured or rehabilitating workers, Benson added.

“The funding will sustain growth the company realized in 2023, while allowing us to focus on new product enhancements like Recovery+, additional referral management enhancements and our injury prevention product suite, which uses wearable safety sensors to predict and prevent injuries,” he said. “Additionally, we’ll expand our U.S.-based sales and marketing efforts.”

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Recovery+ — an industry-leading health coaching platform designed to expedite recovery and enhance the return-to-work process for injured workers — is expected to empower injured workers by giving them a one-to-one platform to engage directly with certified clinicians, ensuring a more personalized and supportive recovery experience, according to Bardavon. It is also designed to lighten the load for client partners, payors and case administrators by efficiently triaging issues and streamlining the care management process.

The new product is now part of Bardavon’s PT/OT network offering, actively being adopted by existing clients and available for new clients.

“Recovery+ marks a new chapter in workers’ compensation that puts the focus on people by providing personalized, on-demand support for injured workers as well as streamlining the recovery process for our stakeholder partners,” Benson said. “Recovery+ was designed to make the healing process and return-to-work journey smoother for everyone. Early case progress results show that by prioritizing our injured workers’ health and care plans, both our clients and those on the road to recovery benefit.”

Darcy Howe, Ed Frindt, and Liam Reilly, KCRise Fund III

Ongoing investor support for Bardavon — especially from a Kansas City-based fund like KCRise — as it rolls out new products like Recovery+ is heartening, said Benson, noting the long-term relationship built between Bardavon founder Matt Condon and KCRise Fund founder Darcy Howe.

“It means the world,” Benson added. “Darcy and the KCRise team have supported Bardavon from its earliest days. Having their (growing) team alongside the company through this next chapter is a blessing, and is something that was extremely important to Matt and I.”

“From the beginning, Bardavon was established as a Kansas City company, founded with intention and belief that healthcare could be changed for the better with learnings and contributions from great Kansas City institutions and entrepreneurs like Neal Patterson, Cliff Illig, David Lockton and Terry Dunn,” he continued. “KCRise is a key part of that fabric — guiding and helping so many early stage companies with a profile similar to Bardavon’s.”