Shadowbox, a leading innovator in healthcare automation solutions, today announced the close of its Series A financing with Baleon Capital, an early-stage growth fund. Baleon Capital will invest up to $6 million to drive scale, expand market penetration, and enhance product automation.
Shadowbox redefines workflow automation between healthcare providers and their customers, instantly connecting their systems to a library of electronic health records (EHRs). Shadowbox’s patented technology enables complete, accurate, and cost-effective transfer of patient data, freeing providers from costly and time-consuming traditional integration projects.
Baleon Capital invests in high-growth businesses at the early-stage with a focus on healthcare tech, fintech and adtech industries. Baleon’s healthcare investments target companies building digital infrastructure for healthcare, focused on reducing costs, improving access, and solving inefficiencies that are hindering patient care. Baleon provides capital to address the largest issues in healthcare, especially the technology gap in patient care. Baleon brings a roster of advisors with distinguished careers in healthcare to provide operational assistance while opening doors to key decision makers.
“The healthcare industry will rely more heavily on data interoperability over time as the increased use of electronic health records drives more demand for data and integration,” said Jon Kaiden. “It is a great time to invest in healthcare technology, as the need to glean insights that drive both patient outcomes and operational efficiencies is as intense today as it had been prior to the proliferation of EHR systems. Shadowbox addresses data connectivity problems with the potential to transform clinical service and improve information at the point of care,” added Shane Kim.
“Shadowbox is excited to partner with Baleon Capital as they bring key strategic advice and deep relationships throughout the healthcare industry, as well as capital for scale,” said Gregory A. Stein, Shadowbox CEO and founder. “Baleon brings over 30 years of investment success, infusing capital into Shadowbox at a perfect inflection point,” added Shadowbox CFO, Beth Crocker.
Shadowbox will use the funds to expand sales and marketing, enhance its AI-driven “fast-matching” technology, and cultivate relationships with strategic partners. “We are on a mission to elevate patient care by making data easy to access and safe to share no matter where it resides,” said Stein.
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