Healthcare data is a mess and Metriport is here with a broom

Metriport would like to let you know that the quantified self movement is still going strong. We covered the company back in February and now it has raised more than two million dollars.

The company discovered how fractured the healthcare IT space was after going through Y Combinator.

Gatekeeping by hospitals and other medical providers is one of the major issues that exist in the U.S. According to Colin Elsinga, co-founder and COO at Metriport, hospitals and providers use proprietary software systems that make it hard for patients to access their own medical records or share them with other providers. There was a lot of work to be done in this space to make the data more accessible and hardly anyone in the space was working on an open source, non-proprietary solution. We decided to go after this larger problem with the goal of democratizing access to healthcare data and improving patient health outcomes because we have always been mission driven.

The funding round included investment from Y Combinator, Triple Impact Venture, Nueterra Capital, Leonis Investissement, Zillionize, VentureSouq, and My Asia VC.

Since we have a lot of product to build, the fundraise allowed us to grow our team and speed up our engineering speed. It allows us to get through the various compliance and legal fees associated with entering the healthcare space. Elsinga says that they are excited to have launched their first product, which allows digital health companies to gain access to their users' consumer health data. In the near term, we will be launching our second main product, our MedicalAPI, which will allow companies to gain both access to their patients' medical records and interface with the electronic health record. Both of these products are free and open source.

The company told me that it raised a $2.4 million seed round at a $20 million valuation and is working to launch its MedicalAPI in 2023.

The first open source solution of its kind, we are excited to see what community contributions will come out of this, and how it will enable new companies to make innovations in the space that weren't previously possible. Elsinga says that they will set a new standard for transparency and accessibility.

The company thinks of itself as the medtech equivalent of Plaid, which allowed emerging digital health companies to get access to the data they needed to grow and scale quickly.

When asked why nobody is doing this already, Elsinga said, "Based on the volume of customers lining up eager to use our product." When the existing players stagnate from being comfortable off of profits from the status quo, the market is open for disruption by younger, hungrier and more modern companies We know this needs to be built and we will be the company to set industry standards along the way.