March 29, 2022 | Abby Phillips

Local VCs band together to back Durham company that uses data science to improve outcomes in healthcare and clinical research.

Durham, NC – March 28, 2022 – biospatial, the premier EMS data platform, announced today that it has closed a $3.4 million Series A round of financing. The round was led by Cofounders Capital with participation from Front Porch Venture PartnersEast Carolina Angels, Gratus Private Capital, and current biospatial investors Bull City Venture PartnersIDEA Fund PartnersAlerion Ventures, and Wolfpack Investor Network. Although each have invested in many early-stage businesses in the Raleigh-Durham region for years, this investment marks the first deal in which Cofounders Capital, Bull City Venture Partners, and IdeaFund Partners have all co-invested.

David Gardner, Partner at Cofounders Capital, said, “biospatial fits our model of companies that we believe can make our investors a return and make the world better. Data is what makes the world tick these days and companies like biospatial that have it, understand it, and make it actionable for their customers will be increasingly sought after and valued.”

biospatial takes a unique approach to answering healthcare questions with data. By building partnerships with state, local, and commercial EMS agencies, biospatial has been able to build a unique dataset of prehospital data. These data are unknown as a source of strategic insight in biospatial’s intended markets of health systems and clinical research.

Jon Woodworth, CEO of biospatial, commented on how the latest investment will enable the company to expand its customer base and capabilities. Woodworth said, “Cofounders Capital is exactly the right partner for us at exactly the right time. With their expertise in both building software and data companies as well as selling into the healthcare sector, this new funding and our partnership with David, Tim, and Tobi at Cofounders Capital will take biospatial to our next inflection point in growth.”

As of March 2022, the biospatial platform has ingested and analyzed over 150 million electronic Patient Care Reports (ePCRs) collected by thousands of EMS agencies in over 40 US states. The company continues to grow its data network and innovate its service offerings to support its data partners in the EMS community and customers in the Federal Government, healthcare provider, and life sciences segments. biospatial’s core mission is to improve healthcare outcomes through data science and this Series A financing will enable the company to expand their impact on outcomes in the EMS community and the broader healthcare and clinical research segments.

David Jones, General Partner at Bull City Venture Partners, said, “We are excited to continue our investment in biospatial and to do so alongside Cofounders Capital for the first time. The biospatial team has done an amazing job of building their network of data partners to amass a highly valuable data asset and their rockstar machine learning and development teams have built a best-in-class platform to automatically extract actionable insights in near real-time. I believe the partnership with Cofounders Capital will help biospatial to significantly grow their customer base to help organizations across the healthcare and clinical research markets.”

About biospatial

Headquartered in Durham, NC, biospatial is a leading healthcare analytics business whose expansive data network provides biospatial customers with near real-time access to electronic patient care reports (ePCR) from thousands of Emergency Medical Services (EMS) providers in over 40 US states. biospatial collects and curates over 100,000 new ePCRs (electronic medical records for EMS transports) daily. Combined with additional healthcare data sources and using proprietary artificial intelligence, biospatial supports customers across multiple industries to enhance awareness, inform decisions, and improve outcomes. For more information about biospatial’s capabilities, please visit the company’s website at www.biospatial.io, email us at contact@biospatial.io or follow biospatial on LinkedIn https://www.linkedin.com/company/biospatial or Twitter @biospatial1

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