{"id":25901,"date":"2021-08-23T11:53:35","date_gmt":"2021-08-23T11:53:35","guid":{"rendered":"https:\/\/rbsitsoftwaresolution.com\/blog\/medical-supply-marketplace-startup-bttn-sews-up-additional-5m-seed.html"},"modified":"2021-08-23T11:53:35","modified_gmt":"2021-08-23T11:53:35","slug":"medical-supply-marketplace-startup-bttn-sews-up-additional-5m-seed","status":"publish","type":"post","link":"https:\/\/www.rbsitsoftwaresolution.in\/blog\/medical-supply-marketplace-startup-bttn-sews-up-additional-5m-seed.html","title":{"rendered":"Medical supply marketplace startup bttn. sews up additional $5M seed"},"content":{"rendered":"

Coming off a $1.5 million seed round in June, bttn.<\/a> announced Thursday that it secured another $5 million extension, led by FUSE, to the round to give it a $26.5 million post-money valuation.<\/p>\n

The Seattle-based company was founded in March 2021 by JT Garwood and Jack Miller after seeing the challenges medical organizations had during the global pandemic to not only find supplies, but also get fair prices for them.<\/p>\n

\u201cWe went into this building on the pain points customers had dealing with a system that is so archaic and outdated \u2014 most were still faxing in order forms and keeping closets full of supplies, but not knowing what was there,\u201d Garwood, CEO, told TechCrunch.<\/p>\n

Bttn. is going after the U.S. wholesale medical supply market<\/a>, which is predicted to be valued at $243.3 billion by the end of 2021, according to IBISWorld. The company created a business-to-business e-commerce platform with a variety of high-quality medical supplies, saving customers an average of between 20% and 40%, while providing a better ordering and shipping experience, Garwood said.<\/p>\n

It now boasts more than 300 customers, including individual practices and surgical centers, and multiple government contracts. It is also currently the preferred supplier for over 17 healthcare associations across the country, Garwood said. In addition to expanding into dental supplies, bttn. is also attracting customers like senior living facilities and home and hospice care.<\/p>\n

Garwood intends to use the funds to expand bttn.\u2019s technology, sales and operations teams, and increase its partnerships. The company is also adding new features like a portal to track shipments more easily, better order automation and improve the ability to control when supplies will get to them.<\/p>\n

Bttn. is also analyzing more of the data coming in from its marketplace to recognize where the trends are coming from, including hospitalization rates, to share with customers. For example, if hospitals are overcrowded, supply shortages will follow, Garwood said.<\/p>\n

\u201cThe medical supply industry was built on inequity, and we have a sense of duty to build a product that enables a better future for our customers,\u201d he added. \u201cWe can proactively let customers know that spikes are expected, provide them with correct information and give that power back to the consumers and healthcare providers in ways they never had before.\u201d<\/p>\n

Whereas bttn.\u2019s first seed round was \u201cabout pouring gas on the fire,\u201d partnering with FUSE this time around was an easy decision for Garwood, who said the firm is bringing new assets to the table.<\/p>\n

Brendan Wales, general partner at FUSE, said via email that his firm backs promising entrepreneurs building businesses in the Pacific Northwest and discovered bttn. before they announced any funding.<\/p>\n

He said there is massive consumerization of healthcare, most evident on the patient side for years, but now becoming so on the provider side. Medical office employees are looking for the same type of customer experience they get from online businesses they frequently shop at, and bttn. \u201chas a relentless drive to provide the same type of experiences and interactions to health providers.\u201d<\/p>\n

\u201cWe fell in love with the idea of providing a transparent and delightful customer experience to health providers, something that has been sorely lacking,\u201d Wales added. \u201cThat, tied in with a young and ambitious team, made it so that our entire partnership worked tirelessly to partner with them.\u201d<\/p>\n

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How tech can build more resilient supply chains<\/a><\/p>\n<\/blockquote>\n

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\u00a0<\/p>\n

Article source: http:\/\/feedproxy.google.com\/~r\/techcrunchIt\/~3\/H0iI0tLi1dA\/<\/p>","protected":false},"excerpt":{"rendered":"

Coming off a $1.5 million seed round in June, bttn. announced Thursday that it secured another $5 million extension, led by FUSE, to the round to give it a $26.5 <\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[19],"tags":[25],"class_list":["post-25901","post","type-post","status-publish","format-standard","hentry","category-enterprise-software","tag-enterprise"],"aioseo_notices":[],"aioseo_head":"\n\t\t\n\t\n\t\n\t\n\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t