Connotate Raises $11 Million in Follow-on Funding to Support Continued Expansion of Cloud-based Offering

Big Data Economy Drives Web Data Growth Opportunity for Connotate

New Brunswick, NJ (November 17, 2016) - Connotate, Inc., the leading Web data extraction platform provider for the information services industry and data-centric businesses, today announced an $11 million Series B-1 financing led by Long River Ventures, with participation from existing shareholders .406 Ventures, Castile Ventures, Fernwood Funding LLC, Prism Ventures and other angels.  Connotate will use the newly raised capital to broaden market reach and expand its portfolio – and especially its newest addition, Connotate Cloud.

“We are always looking for companies that capitalize on high growth market opportunities,” said Tripp Peake, General Partner of Long River Ventures. “Connotate fits that profile perfectly. Their web data extraction platform is at the forefront of big data. Connotate allows businesses to efficiently extract web data to create high-value intelligence, unique insights, and differentiated information products and services.  We are particularly enthusiastic about Connotate’s new cloud offering.”

“We are excited to be adding Long River to the team.  This additional investment enables Connotate to expand its lead in the market and lean into its Cloud-based offering.” said Graham Brooks, Partner of .406 Ventures. “With Connotate’s patented visual abstraction and machine learning approach, customers can more easily, and efficiently, aggregate high-value content from diverse Web sources.  Connotate’s technology views a site just as a human would, making it resilient to the ever-changing nature of the internet.   Connotate is well positioned as more enterprises turn to the web for unique and up-to-date information to drive informed decision making and business processes.”

“We’re grateful to be partnered with active investors that understand our industry,” said Rich Kennelly, CEO of Connotate. “We’re still in the early stages of Web data market growth.  As enterprises and Big Data companies significantly increase their use of Web data, this investment ensures Connotate can grow with that opportunity, and remain a market leader for precise, efficient, web data extraction.”

About Connotate

Connotate, the leading web data extraction and data monitoring provider for the information services industry and data-centric businesses, automates the acquisition of content from the world’s 1 billion+ websites. A 2015 Gartner Cool Vendor for Information Innovation, Connotate’s web data extractor platform features massive scalability, high resiliency, industry-leading change detection, resulting in an average 55% lower content acquisition cost compared to traditional approaches. Connotate’s extensive post-extraction capabilities, including normalization, transformation, and integration, allows information-driven businesses to simplify their content extraction workflow and operations. Headquartered in New Brunswick New Jersey, the web data extraction technology from Connotate has an installed base of leading information service providers, financial research, retail and government agencies including Thomson Reuters, the McGraw-Hill Companies, Factset, and the Associated Press, among others. Visit Connotate's website for more information.

About Long River Ventures

Long River Ventures invests in early growth stage healthcare and enterprise IT companies. Formed by a group of experienced entrepreneurs and venture capitalists, Long River typically leads or co-leads Series A rounds of $3-5 million, contributing up to $1 million, with significant reserves for follow-on investments. The firm invests primarily in the Northeast, both in the major venture markets of Boston and New York and in nearby regional markets. It has offices are in Boston and Amherst, Massachusetts.

Oculus Health’s Patient-Centered Care Model Engages Thousands of Patients on Behalf of their Providers

Raises First Institutional Round to Accelerate Growth and Expand Services

Amherst, MA (November 14, 2016) - Oculus Health, a digital remote care management company that assists health care providers in better managing chronic conditions like Diabetes, Hypertension, COPD, Cancer, and Heart Disease, today announced it has closed an oversubscribed Series A financing led by Excel Venture Management, Long River Ventures, and Excelerate Health Ventures. 

“This financing will accelerate our growth to deliver and expand the multifactorial benefits associated with our patient centered care solutions to physician offices and clinics nation-wide,” said Sridhar Yerramreddy, Chief Executive Officer of Oculus Health. “Our solutions empower our providers to extract new insights with a more novel, intuitive and effective approach to engage their patients and drive enhanced outcomes. We are pleased by the significant interest in our Series A financing and are honored to have such a great group of financial and strategic partners to accelerate our progress."

Caleb Winder of Excel Venture Management and Will Cowen of Long River Ventures, will join the company's board of directors. Oculus Health will use the financing to expand its product to further strengthen efficiencies of CCM delivery and will leverage the funding to deliver its CPC+ platform in Quarter 1, 2017. The CCM opportunity alone, represents a potential market of $17B amongst Medicare beneficiaries.

Providers and clinics use Oculus Health to deliver personalized and effective care coordination models and extend the reach of physicians’ offices to patients’ homes. Oculus delivers a simple yet radically different approach that puts the patient first and delivers personalized health coaching. By utilizing Oculus’ patent-centered care solutions, any size physician practice or clinic can cost effectively offer their patients remote personalized coaching while positively impacting the practices’ bottom-line, retention and patient satisfaction scores. Oculus’ solutions improve patient outcomes and have decreased emergency room visits and unplanned hospitalizations.
Today, Oculus’ solution is assisting thousands of patients on behalf of several provider organizations across 32 states.

“Oculus allows even a small physician office to offer best practice support to their chronic patients on a 24x7 basis,” said Will Cowen, General Partner at Long River Ventures. “We are excited to invest in a company that is having such a positive impact on the lives of chronic patients, while also increasing practice revenue and reducing the burden on physician office staff.”

About Oculus Health

Oculus Health’s flagship Chronic Care Management is a clinically-validated, scalable, remote care management product that combines individualized care management, patient-centered health plan, peer support, and smart technology to help individuals make lifestyle changes that lead to improved care adherence with reduced risk of unplanned hospitalization. Rooted in behavioral science, leveraging the proven consumer engagement model of experiential rewards, and featuring world-class design. Oculus is a uniquely engaging and compelling program that can be accessed through a participant’s smartphone, tablet or computer. Oculus Health works directly with U.S. based physicians, group practices, hospital organizations, self-insured employers and risk-bearing health systems to make Oculus available to individuals with chronic conditions.

To contact Oculus Health for collaborative or partnership opportunities or for any general queries, please contact: press@oculushealth.com or visit their website.

About Long River Ventures

Long River Ventures invests in early growth stage healthcare and enterprise IT companies. Formed by a group of experienced entrepreneurs and venture capitalists, Long River typically leads or co-leads Series A rounds of $3-5 million, contributing up to $1 million, with significant reserves for follow-on investments. The firm invests primarily in the Northeast, both in the major venture markets of Boston and New York and in nearby regional markets. It has offices are in Boston and Amherst, Massachusetts.

Omedix merges with Forerun and becomes Edaris Health

New platform will allow product offerings from Long River portfolio company Omedix to reach new customers

Amherst, MA (November 4, 2016) - Long River Ventures announced today that portfolio company Omedix, Inc. had merged with Forerun, Inc, a preeminent electronic clinical documentation, display and decision support software and services company providing SaaS-based solutions to Urgent Care facilities and Emergency Departments. The company is operating under a new corporate name, Edaris Health (Edaris).

This name change reflects the combined company’s broader offering of healthcare products and services following its  merger with Omedix Inc. The combination of Omedix and Forerun will allow Edaris to significantly expand its market reach and achieve its goal of becoming a leader in delivering clinical IT workflow and documentation solutions to the unscheduled care market. Additionally, Edaris now provides patient engagement and secured communication solutions that benefit both the patient and providers in targeted specialty ambulatory markets.

"Our new name – Edaris Health – recognizes our legacy solution in the emergency services arena as we expand our offering to primary care clinics with urgent care access services.  Edaris will provide next generation clinical informatics to meet the convenience of unscheduled visits while maintaining patient’s expectation for speed and quality of care," said Ken Wolfe CEO of Edaris Health.  

The new name is effective immediately, and will be implemented across the company's product and services throughout the calendar year 2016.

About Edaris Health

The Edaris Health solutions includes, UrgiChart , FlexChart and EngageCare that enable clinicians and other health care providers to better serve patients who are seeking unscheduled and flexible access to care without compromising quality.  Edaris also supports the EHR and clinical workflow within urgicareMD, a comprehensive urgent care application jointly designed and exclusively offered by Henry Schein Medical Systems.  The company’s products are deployed at numerous teaching and community hospitals, free standing EDs, ambulatory clinics and urgent care clinics across the U.S.

About Long River Ventures

Long River Ventures invests in early growth stage IT and healthcare companies throughout the northeast United States. Formed by a group of experienced entrepreneurs and venture capitalists, Long River is designed and structured to invest smaller amounts of capital with typical initial investments of $500,000 to $1 million. Long River Ventures has offices in Amherst and Boston and is currently investing from its third fund.