Raleigh-based Medicom Technologies raises $21.8M Series B, led by Triangle VC firm Oval Park Capital

RALEIGH – Medicom Technologies, Inc. has raised a $21.8M Series B financing round, led by existing Triangle-based venture capital firm Oval Park Capital.

The company, which is based in Raleigh, plans to use the funding to expand its operations and to invest in its software platforms, according to a statement issued this week.

The company launched a health information network in 2017. As a part of the funding round, one of the company’s current customers, Triad-area Cone Health, made a strategic investment.

In the statement, Medicom noted that its network is the fastest-growing such network in the United States, with more than 3,500 integrations.

The company raised $5.4 million in 2017, after an initial two rounds in 2016, with $250,000 raised in June and another $275,000 raised in July. The company was founded in 2015 by Malcolm Benitz, a graduate of North Carolina State University.

Medicom also raised capital in 2020, starting with $700,000 in January and adding to that total by the end of November.