[September 02, 2015] |
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Healthcare Simulation Company DecisionSim, Inc. Secures $1.85 Million in Series A Funding
DecisionSim, Inc., the leading provider of simulation-based learning
platforms, today announced the company raised $1.85 million in a Series
A financing round, positioning the company and its lead product, DecisionSim™
for significant expansion in the U.S. and globally. Rittenhouse
Ventures, a venture capital firm that invests in emerging technology
companies, contributed $1.5 million and an additional $350,000 has been
secured from Ben Franklin Technology Partners of Southeastern
Pennsylvania.
"The new capital will benefit both existing and future clients by
enabling us to enhance our simulation platforms, and will also allow us
to expand into emerging growth areas such as life sciences and managed
care," said Bob Yayac, CEO of DecisionSim, Inc. "We are seeing high
demand for DecisionSim from health organizations due to increasing
pressure on them to deliver better quality, cost effective patient-care,
and now we can offer even more value to these clients."
DecisionSim, Inc. will put the funding toward doubling its staff within
the next six months and increasing the scale and scope of its technology
infrastructure. Planned enhancements include:
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Upgrade of the user interface to make it easier for clients to use
DecisionSim on mobile phones and tablets, as well as design their own
learner interface
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Migration to a new FedRAMP-compliant hosting environment to meet
security and scalability requirements of government clients
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Development of a new client-facing dashboard to enable access to
real-time data and immediate insights during a simulation
DecisionSim, Inc. is also securing re-seller licenses globally,
beginning with Obvious Choice Pty Ltd, a leading Australian eLearning
company specializing in 'disruptive' learning innovation. Additionally,
DecisionSim, Inc. recently expanded its collaboration with the
Department of Veterans Affairs-the largest integrated healthcare
delivery system in the U.S.-and licensed communications training
technology from Drexel University College of Medicine.
"We were atracted to DecisionSim, Inc., because of the versatility and
effectiveness of its software platform across all types of learners and
devices, which sets it apart from other simulation technologies," said
Bruce Luehrs, founder and Managing Partner of Rittenhouse Ventures. "We
believe DecisionSim is a sustainable learning approach with limitless
potential."
For more information on DecisionSim, visit www.DecisionSim.com.
About DecisionSim, Inc.
DecisionSim, Inc. has been a leading provider of simulation solutions to
the healthcare industry since 2010. Its flagship product, DecisionSim™,
is a novel and fully customizable simulation-based learning platform
that enables assessment and enhancement of decision-making through
real-world experiences. DecisionSim has been adopted by top healthcare
systems around the world, including the Department of Veterans Affairs,
patient education innovators, pharmaceutical companies, medical
societies, continuing medical education providers, insurers, academic
institutions, and corporate training organizations. To learn more, visit www.DecisionSim.com.
Follow DecisionSim, Inc., on Twitter and LinkedIn.
About Rittenhouse Ventures
Rittenhouse Ventures is a Philadelphia-based venture fund that invests
in financing of information technology companies that utilize emerging
technologies to create compelling business opportunities. The Fund
invests across the Mid-Atlantic region in capital-efficient B2B focused
IT companies, with a key focus on software-as-a-service (SaaS (News - Alert)). The
Fund's Principals have led over 30 venture capital investments during
the past 15 years and have significant operational experience helping
young companies grow. The Fund's primary verticals of interest include
healthcare and pharmaceutical IT. More information about Rittenhouse
Ventures is available at the company's website at www.rittenhouseventures.com.
About Ben Franklin Technology Partners of
Southeastern Pennsylvania
Ben Franklin is the most active early stage capital provider for the
Philadelphia region's technology sectors. Ben Franklin combines best
practices of venture capital with a public-spirited purpose: leading the
region's technology community to new heights, creating jobs and changing
lives for the better. Ben Franklin is an initiative of the Pennsylvania
Department of Community and Economic Development and receives funding
from the Ben Franklin Technology Development Authority. To learn more,
visit www.partnerswithapurpose.org.
View source version on businesswire.com: http://www.businesswire.com/news/home/20150902005259/en/
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