Westport-based Software Startup Bags $1M in Equity Funding

The State of Connecticut, through the Connecticut Innovations Inc.'s Seed Investment Fund, and Intersection Health Partners, a -based private equity investment firm, have reportedly committed to a combined $1 million equity stake in Westport healthcare information startup MyCare Inc.

MyCare reportedly offers a proprietary search engine tool that allows healthcare workers to access and analyze data in any electronic medical record in near real-time. The company claims its software, which is EMR system "agnostic," is ideal for deployment across a range of platforms and devices including tablets and smartphones, which are taking a more prominent role in healthcare.

According to a press release, the state and Intersection Healthcare Partners have reportedly each invested $500,000 in the software firm.

MyCare claims with its software integrated with a hospitals' existing medical records system, administrators can maintain patient records in compliance with Medicare and Medicaid guidelines.

The company reportedly counts Yale-New Haven Hospital, Bridgeport Hospital and Greenwich Hospital as customers of its licensed software.

According to a report in the Hartford Business Journal, Connecticut Innovations, the state's technology investment arm, got a seat on MyCare's board in return for its stake.