This startup’s $1.5 million raise is a good sign for the region’s health IT aspirations
Life.io (née Lifevest Health) raised a round from a slate of local investors, something we’ve seen more and more from Philly tech companies, but this one feels especially promising in light of the major push to make the region a hub for health IT.
Lifevest Health left Denver for a Philly-area accelerator three years ago. Now the company is announcing a round of funding from a slate of local investors, plus a new Center City office.
The workplace wellness company, which has since rebranded as Life.io, closed a $1.5 million round of funding from investors like Robin Hood Ventures, Rittenhouse Ventures, Ben Franklin Technology Partners and Delaware Crossing. Undisclosed local angel investors also participated.
Life.io is following a recent trend we’ve noticed, in which local startups raise entire rounds off of local investors. See: Sidecar, Phenom People, Journey Sales. Life.io’s round is especially promising because it suggests that there’s early-stage capital for health IT companies — something the region will need if it wants to kickstart a further med-tech movement.
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