# Medxoom

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/medxoom

- Industry: Software
- Headquarters: Atlanta, US
- Website: www.medxoom.com
- Total disclosed funding: $11M
- Latest round: Series A (Apr 2, 2021)
- Investors on record: 4

## About

Medxoom, Inc. is a U.S.-based developer of a health benefits platform designed to enhance the management of healthcare services for employers, brokers, and third-party administrators through innovative digital solutions.Founded in 2015 in Atlanta, US, Medxoom, Inc. specializes in providing a health benefits platform. In July 2023, Medxoom was acquired by Allied Benefit Systems, LLC from various investors including TTV Capital and Las Olas Venture Capital. The company has engaged in 3 deals to date, with the latest funding round being a Series A, raising a total of USD 8.00 mn led by Castellan Group. The founders, Bart Sheeler and Jeffrey Toewe, have backgrounds in developing technology solutions for health benefits management.Medxoom offers a comprehensive health benefits platform tailored for brokers, employers, and third-party administrators (TPAs). Its platform includes features such as mobile messaging, a digital benefits wallet, e-payments, and digital explanation of benefits (EOBs) to facilitate better health benefits management. The platform empowers users to compare provider services and prices, aiding informed decision-making for healthcare. The services target the U.S. market, focusing on organizations and their employees who require efficient management of health benefits.Medxoom generates revenue through subscription-based services and partnerships with employers and TPAs. Clients subscribe to the platform to enhance their benefits administration processes, which leads to improved operational efficiencies and member satisfaction. Revenue streams include subscription fees and possible transaction fees related to provider payments and integrated financial functionalities of the platform.Following the acquisition by Allied Benefit Systems, LLC on July 18, 2023, Medxoom plans to leverage its new parent company's resources to enhance its health benefits solutions. The strategy aims to optimize existing offerings and possibly introduce new features, though specific new product launch dates have yet to be detailed. The acquisition is expected to support Medxoom in expanding its reach and effectiveness in health benefits management.

## Funding rounds

- Series A, Apr 2, 2021, $8M — TTV Capital, Castellan Group, Las Olas Capital Advisors
- Seed, May 31, 2019, $3.4M — TTV Capital, Lattice Ventures, Las Olas Capital Advisors

## Investors

- TTV Capital (https://capitalatlas.ai/funds/ttv-capital) — Seed, Series A
- Lattice Ventures (https://capitalatlas.ai/funds/lattice-ventures) — Seed
- Las Olas Capital Advisors (https://capitalatlas.ai/funds/las-olas-capital-advisors) — Seed, Series A
- Castellan Group (https://capitalatlas.ai/funds/castellan-group) — Series A