Healthtech Startup bttn. Announces $5M Seed Add-on to Modernize Medical Supply Market
FUSE Backs bttn. to Challenge Archaic Industry Processes and Capture Medical Supply Market Share
Post-Money Valuation Rises to $26.5M
SEATTLE, Aug. 19, 2021
SEATTLE, Aug. 19, 2021 /PRNewswire/ -- Healthtech startup bttn. announced it has closed a $5M add-on to its seed round led by FUSE. The B2B E-commerce platform for medical supply procurement is solving critical supply chain issues such price volatility and constrained access to medical supplies, while rapidly onboarding customers and expanding to all healthcare providers across the country. The funds announced today will be used to expand bttn.'s technology, sales, and operations teams wherein it will further expand and refine the platform, foster additional partnerships, expand its customer base, and continue to streamline efficiencies.
The COVID-19 pandemic has exposed the inefficiency and fragility of the medical supply chain. bttn. created a digitized and efficient solution to address the frustration associated with these challenges -- price gouging, lack of supply, and arduous order fulfillment processes. bttn.'s software recognizes nationwide buying trends and offers real time access to a variety of products with price and supplier discovery wherein customers recognize savings between 20-40% on their medical supply bills by leveraging scale to improve purchasing power. Additionally, procuring supplies through the B2B E-commerce platform streamlines ordering with an intuitive order interface that retains order information as well as offers real-time shipment tracking.
"The current medical supply industry is like the housing market prior to Zillow - opaque, analog, and slow moving. bttn. provides a service that is the complete opposite, a B2B wholesale purchasing experience that is crystal clear and customer-centric," said Brendan Wales, General Partner at FUSE. "They are fearlessly challenging the status quo and disrupting an archaic system. As a result, they are onboarding customers faster than any marketplace I have invested in throughout my career."
JT Garwood, CEO & Co-founder of bttn. said, "Cost of, access to, and timeliness of supplies are top of mind for all healthcare providers in this highly chaotic market. We are digitizing procurement to be more cost-effective, efficient, and predictable. The medical supply industry is a system built on antiquated processes that prioritizes size which creates inequity for smaller players and geographies. The bttn. solution brings state-of-the-art software to an industry in dire need of modernization. The FUSE partnership allows us to scale in a meaningful way to seize the opportunity and capitalize on the enormous industry disruption."
bttn. has achieved early and rapid success, quickly closing in on $1m in revenue while boasting more than 400 customers, multiple government contracts, and participation from some of the nation's largest healthcare systems. To date, 20 healthcare associations including the Washington State Community Health Association and Homecare & Hospice Association of Utah have made bttn. their preferred supplier.
bttn. is a developer of technology solutions for healthcare customers. The company automates purchasing of medical supply at direct-from-manufacturer prices. Additionally, bttn. provides market based data reports to customers to promote market transparency. By streamlining the ordering process, and moving it to an e-commerce platform, bttn. enables customers to save on their medical supply bill while delivering faster than typical medical supply channels. Visit www.bttnusa.com to automate your medical supply today.