Madison, WI—August 20, 2019
Redox today announced it saw its customer base grow by 33 percent over the first half of 2019. The company’s market momentum shows the intense need for healthcare organizations to exchange data more efficiently with digital health vendors. Now, more than 500 health care delivery organizations and 236 independent software vendors use Redox to exchange and integrate more than seven million patient records per day across 40 electronic health record (EHR) systems.
“The industry is getting a clearer picture of the power Redox has to achieve the promise of digital health innovation,” said Niko Skievaski, co-founder and president, Redox. “We see this as validation of our winning strategy. Our developer-first platform, single point of integration, and network approach continue to drive value for software developers and healthcare organizations alike. We’re on track to exceed our goals this year and continue to be focused on helping our customers integrate across this ever-growing network.”
Redox standardizes healthcare data with a vendor-agnostic application programming interface (API) and a cloud network where organizations can exchange information with partners. This network interoperability approach simplifies the way organizations exchange healthcare data by eradicating the issue of inconsistent data formats and redundant connections. Messages may be transmitted and/or received in any message format associated with the healthcare entity’s existing EHR system.
“Redox has become the de facto standard in healthcare cloud integration. Beyond the benefits of the platform, we chose Redox because many of the applications we’re adopting are already part of a bigger network.”
Rob Jennetten, Director, Innovation Partnerships, OSF Healthcare.
Customer Growth and Adoption
The Redox Platform supports healthcare delivery organizations of all sizes and powers the cloud integration strategies of leading care coordination, chronic care management, durable medical equipment, patient engagement, revenue cycle optimization, remote patient monitoring, and telehealth solutions. In the first half of the year, the company signed 55 new vendor customers and added 177 health systems to the Redox Network. Currently, 80 percent of the top 20 hospitals in the United States, as ranked by U.S News and World Report, use Redox to power integration with at least one vendor.
Operating within the same trusted network using shared infrastructure, organizations can establish data-sharing relationships in a fraction of the time required by traditional integration methods. This has led to rapid growth in the number of organizations the average Redox customer is integrated with.
Company Expansion Through Remote Only
From day one, Redox has believed that the future of work is remote and that culture has paid dividends. The company has worked hard to build an organization that not only allows but celebrates remote work and diversity. Since the end of 2018, Redox welcomed 43 new employees, rounding out the total staff count to 118 across 25 states. The company’s success is also built on the success of its customers, from which Redox built an infrastructure that customers can rely on. Elif Eracar joined in June as the company’s new chief customer officer to ensure that customers are getting the full value of the Redox relationship.
Recognized for Innovation
Luke Bonney, CEO, Niko Skievaski, president, and James Lloyd, CTO, were finalists for the Entrepreneur of the Year® 2019 Award in the Midwest region. Widely considered one of the most prestigious business awards programs in the U.S., the program recognizes entrepreneurs and leaders of high-growth companies who are excelling in areas such as innovation, financial performance, and personal commitment to their businesses and communities, while also transforming our world. The Redox team was selected by a panel of independent judges.
Redox has shown tremendous customer momentum in its bid to enable faster, more secure, and reliable data sharing between healthcare vendors and providers. This strategy has been validated by its recent $33 million Series C funding round led by global investment firm Battery Ventures with participation from existing investors .406 Ventures, RRE Ventures, and Intermountain Ventures.
Another new member of the leadership team, CSO Ben Waugh is creating a world-class security organization at Redox, as well as supporting all companies in the Redox Network to build robust, modern security capabilities. This year, Redox launched a public bug bounty program with Bugcrowd to help ensure its customers’ health data is secure. As one of the first health IT companies to adopt a crowdsourced security approach, Redox is offering monetary rewards to trusted hackers to identify security vulnerabilities in its technology platform.