EmergConnect, a startup based in Waterloo, has raised $350,000 CAD in what the company classified as an all-equity, SAFE, pre-seed investment round that closed in September.
The financing was led by Loyal VC, a global startup index fund, and saw participation from Maple Leaf Angels and Front Row Ventures.
With its mission to “revolutionize emergency care,” EmergConnect offers a mobile platform that allows patients to register, triage, and get an individualized prediction of their wait time in emergency rooms (ERs). The app can be accessed by patients at home, in the ER, or in a virtual care setting.
For clinicians, they can leverage EmergConnect in their facilities through its web application where they would be able to access all relevant patient information, clinical predictions, and automate their existing systems without the need for third-party integrations.
Ron Galaev, EmergConnect’s founder and CEO, started working on the company in the summer of 2020 with the assistance of Health Ventures, an experiential learning program that introduces students to the health innovation landscape based in McMaster University. The company was founded in August that year, and is anticipating to launch its flagship product in the coming months, Galaev told BetaKit.
According to Galaev, the new capital will be used for launching the EmergConnect product into hospitals across Ontario and Canada more broadly. The funding is also earmarked for product advancement and the addition of more features.
Also a fourth-year biomedical discovery and commercialization student at McMaster University, Galaev said that during his time at Health Ventures, he refined his concept for the startup by speaking to physicians; eventually developing an early prototype for EmergConnect.
Recently, EmergConnect was selected as one of eighteen finalists from a pool of ninety for the Activate!Vaughan Health Innovation Challenge, an innovation program that connects entrepreneurs to industry leaders for mentorship. The company pitched its idea to a panel of judges, investors, and partners, winning a $5,000 grant and the opportunity to participate in the Health Acceleration and Patient Innovation program.