Medication prompting app co MediSafe raises $6m

MediSafe's app has been downloaded on 1.3 million smartphones and tablets.

Israeli startup MediSafe, whose app prompts patients to take their medications, has raised $6 million. The Pitango Venture Capital fund, which led the round, was joined by 7wire Ventures, lool ventures, TriVentures, and other investors.

MediSafe's app has been downloaded on 1.3 million smartphones and tablets to date. The company's platform enables a person taking medication regularly to receive a prompt at predetermined times about the medication he is to take. If he forgets to take his medicine, the system prompts him again and again, and can also notify a "telephone friend," who will check with the patient why the medication was not taken. The system makes it possible to produce a report for the doctor, and is also designed for future integration with the patient's other medical activity.

The company recently developed a personally adapted messaging system that purports to address the main reasons for not adhering to a medication regime, such as forgetfulness, absence of support, mental distress, information overload, low involvement, and spiraling costs of medications. The purpose of the current financing round is to expedite the company's growth in the US market. MediSafe will move its main offices to Boston, while its development will remain in Israel.

Among previous investors who invested in the current round is Eyal Gura, who was the company's first angel investor. Gura was formerly a venture partner at Pitango Venture Capital, and he has recorded three exits to date.

MediSafe was founded by CEO Omri "Bob" Shor.

Published by Globes [online], Israel business news - www.globes-online.com - on January 11, 2015

© Copyright of Globes Publisher Itonut (1983) Ltd. 2015

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