VANCOUVER BC, April 7, 2015 — Ayogo Health Inc., an emerging technology company that transforms the way consumers with chronic conditions engage with their own care, announced today a Series A investment of $2.5 million from a syndicate of investors including Merck Global Health Innovation Fund (GHI), Excel Venture Management, and 7Wire Ventures. The financing will accelerate Ayogo’s growth with expanded research and development and sales and marketing. David Stevenson of GHI, Caleb Winder of Excel, and Lee Shapiro of 7Wire will join Ayogo’s board of directors.
“The traditional Healthcare Industry is being fundamentally transformed before our eyes, by new technology, new marketplaces, and new ideas about what health means in people’s lives – and that process is accelerating,” said Lee Shapiro, Managing Partner of 7Wire Ventures. “We’re very excited to partner with the team at Ayogo as they continue to empower consumers to change the way they think about and manage their health.”
Ayogo’s Empower™ platform harnesses game mechanics and social patterning effects to enhance intrinsic motivation, build self-efficacy, and help healthcare consumers integrate their care plans into their real, daily life. “People living with chronic conditions often need to make very difficult changes to their lives, attitudes, routines,” said Michael Fergusson, CEO and co-founder of Ayogo. “To support this herculean effort, they get 6-10 hours per year with their healthcare provider. Our mission is to be there, empowering them for the other 8,750 hours.”
Founded in 2011 in Vancouver BC, Ayogo has seen a steady stream of accolades as its business has grown, and as it has added some of the largest healthcare and life sciences companies in the world to its client list. “Ayogo has built a leadership position in a rapidly growing market,” said Caleb Winder, Managing Director at Excel. “What Michael, Paul, and the team have accomplished over the last three years is very impressive, and Ayogo’s products have the potential to significantly improve patient engagement, a problem costing healthcare systems around the world hundreds of billions of dollars.”
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Ayogo is on a mission to change healthcare by changing the way people think and act regarding their health. The worldwide market for patient engagement solutions is estimated at nearly $7B, and much of it is wasted on ineffective portals and apps. Ayogo’s Empower™ platform allows healthcare organizations to support consumers with applications that they will actually use, to achieve better health outcomes which translates to better financial outcomes. Find out more about Ayogo and Empower your patients at www.ayogo.com.
Excel Venture Management builds companies that apply transformative technologies to solve problems in healthcare and beyond. The Excel investment portfolio is balanced across healthcare IT and services, diagnostics, and medical devices, plus life science platforms that address adjacent markets including energy, chemicals, defence and agriculture. Our investments include Tetraphase (TTPH), Aileron, Ayogo, Cleveland Heart Lab, Shape Up, and Synthetic Genomics. More information can be found at www.excelvm.com.
Founded by Glen Tullman and Lee Shapiro, 7wire invests in innovative ideas and entrepreneurs that address three critical areas: health care, education, and energy. Through the creation of new businesses, investments in early and growth stage companies, and complementing funds with insight and experience, 7wire transforms great ideas into world class companies. 7wire has offices in Chicago, IL. For more information visit: www.7wireventures.com.
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