Shantel
Key Takeaways:
- MedScout, a revenue acceleration platform dedicated to revolutionizing commercial operations for medtech and life sciences companies, has successfully completed a $5 million seed investment round. The round was led by Stage 2 Capital, with participation from LiveOak Venture Partners, Alumni Ventures, and a16z’s Scout Fund. This funding will enable MedScout to provide advanced sales intelligence tools purpose-built for selling into the healthcare sector.
- The traditional sales processes of medtech and life sciences sectors heavily rely on in-person interactions and personal relationships, resulting in higher sales, general, and administrative (SG&A) expenses compared to other technology companies. MedScout aims to address this by offering a comprehensive revenue acceleration platform that combines the latest medical claims intelligence with a user-friendly interface designed specifically for sales professionals and leaders.
Transforming Sales in the Healthcare Sector
MedScout stands out as a game-changer in the industry. Unlike legacy players, MedScout provides a comprehensive revenue acceleration platform that integrates the latest medical claims intelligence from public and private payors. The platform offers an intuitive user experience, empowering sales professionals and leaders with actionable insights. Customers have praised MedScout for its ease of use and powerful integration with customer relationship management (CRM) systems. Sales representatives can efficiently prioritize opportunities, manage their schedules, and access valuable referral data to build stronger relationships with physicians and practices. Additionally, MedScout provides commercial leadership with better insights into unique market opportunities, enabling them to align sales and marketing efforts for increased effectiveness.
“We believe that medtech sales is undergoing a similar evolution to what we’ve witnessed in technology sales, where data and technology drive efficient results,” stated Stage 2 Capital. “MedScout’s revenue acceleration platform perfectly addresses the needs of the industry, empowering sales professionals and leaders with actionable insights and a user-friendly interface. We were impressed with the thoughtfulness of co-founders Skylar Talley and Casey Shattuck during their participation in our Catalyst Program, and we are thrilled to support their vision.”
Partnerships and Growth Plans
MedScout collaborates with the IRS through their Certified Acceptance Program to obtain Individual Taxpayer Identification Numbers (ITINs) for its members, enabling them to establish a tax presence, file taxes, build credit, obtain driver’s licenses, and purchase homes.
With the substantial seed funding, MedScout is well-positioned to accelerate its growth and establish itself as the go-to revenue acceleration platform for medtech and life sciences companies. The company remains committed to innovation and a customer-first mindset. They have expanded their Engineering and Customer Success teams to support the growth experienced this year and plan to hire personnel in Sales, Marketing, Engineering, and Product in the coming months.
About MedScout
MedScout, founded in 2022, is a revenue acceleration platform designed to transform sales processes for medtech and life sciences companies. By combining advanced medical claims intelligence with an intuitive user experience, MedScout empowers sales professionals and leaders to optimize their sales territories, prioritize opportunities, sell more efficiently, and build stronger relationships with physicians. With $6.8 million raised in venture capital to date, MedScout is headquartered in Austin, Texas.
About Stage 2 Capital
Stage 2 Capital, the first go-to-market venture capital firm, combines traditional venture investing with go-to-market execution expertise. Leveraging its elite LP base of 500+ senior executives from unicorns and Fortune 500 firms, Stage 2 Capital helps portfolio companies scale revenue and accelerate growth. The firm invests in B2B software and marketplaces between late seed stage and Series A. For more information, visit: http://www.stage2.capital.
About LiveOak Venture Partners
LiveOak Venture Partners is a venture capital fund based in Austin, Texas, with over 23 years of successful venture investing in the state. The founders of LiveOak have helped create nearly $5 billion of enterprise value. LiveOak is a complete life cycle investor focused on technology and technology-enabled service companies, with nearly $500 million under management. The firm has led investments in 60 high-growth Texas-based companies, including DISCO, Eventus, OJO Labs, AmplifAI, Homeward, Take Command Health, and Osano. Recognized as the Venture Capital Firm of the Year in Austin at the 2022 inaugural A-List awards by the Greater Austin Chamber of Commerce, LiveOak is dedicated to supporting local founders, fostering the next generation of leaders, and building category-dominating companies.
