Medication Management Startup Nvolve Aims to Raise $1.5M with Private Stock Offering
According to forms filed this Wednesday with Securities and Exchange Commission, medication management startup Nvolve is planning to raise $1.5 million through a private stock offering.
A Winston-Salem-based startup has raised $300,000 in a private stock offering, according to a filing with the Securities and Exchange Commission.
Nvolve Inc., a medical management company, filed the Form D Wednesday. The company plans on selling another $1.2 million worth of stock, for a total private equity raise of $1.5 million. It first started selling stock Jan. 16.
The company, founded in 2013, did not disclose what it intends to do with the proceeds.
Nvolve produces a system that enables patients to know when and how much medication they are taking. The company’s CEO is Andrew Bowline, and its CIO is Adam Oakman. The company provides systems for individuals and hospitals.
According to the company’s website, the company is currently participating in a pilot program to test its medication management platform, which revolves around a smart pill box that monitors when and how much medication is taken. The platform is also capable of communicating with caregivers and providers to monitor medication compliance.