Wednesday, June 25, 2008

Health-care IT startup Premise grabs $2M from VCs

By Mass High Tech Staff

Premise Corp., a health-care IT startup based in Connecticut, has raised $2 million in an extension of its Series B round of venture capital, according to investor Connecticut Innovations.

Premise CEO Eric Rosow said that the additional capital would enable the firm to enhance research and development and expand its work force.

Connecticut Innovations, a quasi-state group focused on investing in technology in the Nutmeg State, said it contributed $244,800 to the extension tranche, which included investments by Aetna Ventures LLC, Milestone Venture Partners LP, Inflection Point Ventures LP and others.

Premise is a provider of patient-flow and business intelligence software for hospitals, according to Connecticut Innovations. The software is intended to automate management of patients, hospital beds and other resources in clinical settings.

Privately held Premise, whose software was developed at Yale School of Medicine in New Haven, Conn., announced the first, $6.3 million closing of its Series B round of venture capital in May 2007.