DATE: JULY 5, 2023
MedScout, a revenue intelligence platform for medical device companies, today announced that it has raised $5 million in seed funding. The round was led by LiveOak Venture Partners, with participation from Next Coast Ventures, 8VC, and a group of angel investors, including former executives from Medtronic, Johnson & Johnson, and Boston Scientific.
The company will use the funds to accelerate growth of its platform and to expand its team. MedScout’s platform provides medical device companies with insights into their revenue performance, including data on sales pipelines, customer engagement, and product adoption. The company’s platform also helps companies to identify opportunities for growth and to optimize their sales and marketing strategies.
“We are excited to announce this funding round, which will allow us to accelerate our mission of helping medical device companies achieve their revenue goals,” said Skylar Thomas, CEO and co-founder of MedScout. “With this funding, we will be able to build our platform into a powerful tool for businesses, and we will also be able to grow our team.”
The demand for revenue intelligence solutions is growing rapidly. According to a recent report by IDC, the global market for revenue intelligence is expected to reach $10.2 billion by 2025. However, the current state of the market is limited by the fact that most revenue intelligence solutions are expensive and difficult to use. MedScout’s platform aims to address this challenge by making revenue intelligence accessible to businesses of all sizes.
“We are impressed by MedScout’s platform and its potential to help medical device companies achieve their revenue goals,” said Mark Kvamme, Managing Partner at LiveOak Venture Partners. “The company’s platform has the potential to make a significant impact on the way that medical device companies operate, and it is well-positioned to capitalize on the growing demand for revenue intelligence solutions.”
This funding round is a significant validation of MedScout’s platform and its potential to impact the medical device industry. The company is well-positioned to capitalize on the growing demand for revenue intelligence solutions, and this funding will help it to accelerate its growth and reach.
MedScout is a revenue intelligence platform for medical device companies. The company’s platform provides medical device companies with insights into their revenue performance, including data on sales pipelines, customer engagement, and product adoption. MedScout’s platform also helps companies to identify opportunities for growth and to optimize their sales and marketing strategies. MedScout was founded in 2021 by Skylar Thomas, a former Medtronic sales executive, and Sudish Mogli, a former Google engineer.
About LiveOak Venture Partners
LiveOak Venture Partners is a venture capital firm that invests in early-stage technology companies. The firm has over $1 billion in assets under management and has invested in over 100 companies, including LiveRamp, 6sense, and Confluent. LiveOak Venture Partners was founded in 2005 and is headquartered in Austin, Texas.
- MedScout’s platform is currently available to medical device companies in the United States.
- The company plans to expand its platform to other countries in the coming years.
- MedScout is looking for partners to help it expand its reach. If you are interested in partnering with MedScout, you can learn more on the company’s website.