Web3 healthcare information platform Rymedi raises $9 million in Series A funding

Blockchain-based healthcare data platform Rymedi has raised $9 million in Series A funding. 

RW3 Ventures and White Star Capital co-led the round, which had additional participation from Blockchange Ventures, Avalanche's Blizzard Fund and angel investors. 

Rymedi streamlines the transfer of medical records and data via blockchain, and it intends to use the funding to bolster data security, healthcare record accessibility, North America market expansion and development of global opportunities. 

The Series A funding brings Rymedi’s total funding to $13 million, the firm’s Chief Strategy Officer Jason Cross told The Block. In addition, two of its strategic leads get seats on Rymedi’s Board.

Decentralized data platform

"Our decentralized data platform is diminishing roadblocks that healthcare systems have faced for far too long,” David Stefanich, CEO and Founder of Rymedi, said in a statement.

"Data entry errors and healthcare compliance issues slow the development of life-saving research, patient care, and occupational health processes," he continued. "We are improving the overall healthcare experience with this technology."

Rymedi is based in Greenville, S.C. and was founded in 2018. The firm claims to serve over 1 million patients across 1,200 locations in the U.S., Africa and Australia, according to the company.

"Our digital workflows are providing blockchain-based data compliance automation for healthcare enterprise today, from labs and pharma to medical device manufacturers and healthcare systems," Cross said. "In the process, Rymedi is laying the rails for patients and customers to leverage ever more decentralized web3 value propositions with their data in the future."

(Updated with Rymedi's total funding, Board and additional information.)