Stunning $7.2M Crowd Sale Attracts Institutional, Angel Investors To Patienetory Platform

Written by Dana Sanchez

In case you missed the recent 500 Startups Unity and Inclusion Summit (Atlanta) at TechSquare Labs, we’ve got you covered. Moguldom.com was in Atlanta for the event, which provided a forum for some of the newest ideas around reversing inequality in tech. This is the eighth in a series of Moguldom videos from 500 Startups Unity and Inclusion Summit (Atlanta), June 10, 2017.

Correction notice: Tech Square Labs is not a seed investor in Patientory. A video interview stated otherwise.

As one of the few Black female founders in technology, Chrissa McFarlane pulled off a seemingly impossible feat.

She raised more than $7 million in about three days in a crowd sale for her cybersecurtiy healthcare tech platform, Patientory. Now McFarlane wants to inspire others to take the leap and start their own companies.

The $7.2 million raised came from 1,728 individual contributors.

As a result of Patientory’s successful crowd sale, the Patientory founder has already seen the fruits of her labor. She has attracted more potential funding — this time from institutional venture capital and investors that can help her scale her project, McFarlane told Moguldom.com.

Moguldom asked McFarlane on June 10 to talk specifics on who is courting Patientory for investing following the successful crowd sale.

“Yes, so we’ve been by the larger banks as well like Goldman Sachs and larger angel groups … and Morgan Stanley for now,” McFarlane said.

Patientory secures patient health data through private infrastructure on the Ethereum blockchain. It primarily services hospital systems and health care organizations, however the technology is also empowering patients to take a more active role in their care by giving them secure access to their health information, McFarlane said.

McFarlane spoke at 500 Startups Unity & Inclusion Summit Atlanta about the importance of diversity in tech, and what this means for minorities and other underrepresented groups that are trying to establish businesses and help grow their communities.

“I really think it’s important for more females and minority groups to start building their companies which impact the communities that they live in,” she said. “That’s what I expect to do on a more global level with Patientory — to be able to inspire other female entrepreneurs to take that leap and start their companies.”

Correction notice: Tech Square Labs is not a seed investor in Patientory. A video interview stated otherwise.

 

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About Dana Sanchez
Dana Sanchez is the editor of Moguldom.com and AFKInsider.com. She has worked in digital and print news media as a business writer and news editor. She has a master's degree in mass communications from the University of South Florida. Prior to working in news, Dana worked in advertising.

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