Earlier this month, Validic – a Mark Cuban backed healthcare startup – announced that they had closed a $5 million Series A Round. Validic is an incredibly interesting startup. As noted in the article linked above, the company offers a pretty robust description of their services:
Validic is the healthcare industry’s premier technology platform for convenient, easy access to digital health data from best-in-class clinical and remote-monitoring devices, sensors, fitness equipment, wearables and patient wellness applications. Validic’s mission continues to be helping our healthcare clients and integrations thrive in this transformational industry.1
The core of Validic’s business, then, lies in their use and manipulation of the data that the various wearable and other health related technology collects. Essentially, they offers a sort-of Rosetta Stone for health data. That is to say that Validic takes all of this various data and turns it into an easy to use and manipulate format.
There is certainly a need for such a service. Think about it, there are hundreds, if not thousands, of different health wearables and other monitoring/diagnostic technologies. The great majority of these are built with different software. Validic makes is so that all of these different technology platforms can speak to one another.