Curisium, a Manhattan Beach–based start-up company that allows health care systems and biotech firms to contract through blockchain technology, has raised $3.5 million from investors, officials announced Thursday.
Holosense Inc., doing business as Curisium, raised the cash in a seed round from five investors, including Flare Capital Partners of Boston, Mass.; New Enterprise Associates of Chevy Chase, Md.; Shuttle Fund Advisor of New York; Sanofi Ventures of Cambridge, Mass.; and Green Bay Ventures of San Francisco.
Curisium, founded late last year, employs blockchain tech to allow insurance companies, health care providers and biotech firms to engage in secure business contracts. Blockchain, which was originally developed for bitcoin, uses linked information and cryptography to securely share digital information.
“Payers, providers and life-science companies are increasingly entering into various forms of innovative contracts,” said Peter Kim, Curisium co-founder and chief executive, in a statement. “However, effective implementation today is hampered by costly logistics, lack of trust, and difficulty verifying patient-level outcomes.”
Bill Geary of Flare Capital, and Mohamad Makhzoumi of New Enterprise Associates, have joined the Curisium board, while Ruchita Sinha of Sanofi Ventures was appointed a board observer.
Health business reporter Dana Bartholomew can be reached at email@example.com. Follow him on Twitter @_DanaBart.