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Serra Ventures Invests $750,000 in Pharmacy Data Services Leader Consortiex


Champaign, IL; Milwaukee, WI – WEBWIRE

Milwaukee, WI (July 26, 2016) – ConsortiEX, a leader in pharmacy data services, has raised $750,000 in funding from Champaign, Illinois based firm Serra Ventures. Serra’s investment completed the company’s Series A round of financing in July.
 
To date, ConsortiEX has raised more than $3.4 million in Seed and Series A funding, and has made tremendous progress in recent months. ConsortiEX achieved several significant milestones, including the completion and commercial launch of the company’s Assure-Trak® and Pedigree Management Services. ConsortiEX also secured the largest Assure-Trak® order in company history from New England Life Care.  In addition to the NELC account, ConsortiEX completed installations of its Assure-Trak® Pedigree Management Services at Boston Children’s Hospital, Froedtert & the Medical College of Wisconsin, Milford Regional, and the University of Wisconsin. The New England Pharmacy Collaborative began implementation at nine of their member hospitals with anticipated completion by the end of August.
 
“We were very impressed with CEO Neal Long and the ConsortiEX team from the earliest of interactions,” Serra Ventures Partner Dennis Beard said. “With the company’s demonstrated progress and the enthusiastic acceptance of its products by customers, we are very pleased to add them to the Serra Capital portfolio.”
 
About Serra Ventures:
 
Serra Ventures is an early stage venture capital firm investing in technology companies in emerging Midwest technology centers and selected other geographies. Sectors of focus include information technology, devices/instrumentation and agricultural technologies. The profile of an ideal startup is one that has just finished an accelerator program, an I-Corps program or has been through a round of seed funding to establish and prove a strong product-market fit. 

Serra Ventures is headquartered in the University of Illinois Research Park in Champaign, Illinois. Champaign’s central Midwest location enables Serra to act local in several Midwest markets. Entrepreneurs know that critical business issues requiring advice are rarely scheduled. Serra’s central location means hands-on work with entrepreneurs at a moment’s notice when they need it the most. For more information, visit www.serraventures.com.

About ConsortiEX:
 
ConsortiEX provides health care IT systems and services to manage the ordering, distribution, and tracking of sterile injectable compounds (IV and syringe based pharmaceuticals) for hospitals and affiliated networks from Pedigree to Patient.  Products include Assure-Trak®, an ERP system for hospital pharmacies, and Pedigree Management Services, a system to track and trace pharmaceuticals from manufacturer to the individual patient. For more information, visit http://www.consortiex.com/.


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 Midwest
 Technology
 Serra Ventures
 Venture Capital
 University of Illinois


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