PROVIDENCE – The Slater Technology Fund will invest an additional $100,000 in local health care mobile messaging platform Care Thread, bringing Slater’s total investment in the company to $350,000, Slater announced Tuesday.
Care Thread, launched in 2011 by President Nick Adams and two co-founders, will use the latest investment to accelerate sales and marketing initiatives and support ongoing deployment of its HIPAA-compliant platform at Brigham & Women’s Hospital in Boston and the Eastern Connecticut Health Network.
In conjunction with the latest fundraising round by Slater and other existing investors, Care Thread has announced a strategic partnership with Beacon Partners, a national consulting firm specializing in health care technology.
“Today’s health care environment and the challenges of quality at cost require a level of choreographed care that is nearly impossible without a next-generation tool set,” said Thorne Sparkman, managing director of the Slater Technology Fund. “Care Thread hypothesized that the smartphone was the platform care teams needed, and now they’ve proven this by solving customers’ problems. Care Thread is poised to bring newfound levels of collaboration to any environment where patient care is directly affected by the quality of care team collaboration.”
The Care Thread reinvestment is the Slater Fund’s second this year, following a $100,000 reinvestment in Providence e-commerce technology firm Absolute Commerce in April. Slater’s initial $250,000 investment in Care Thread was made in January 2013.