The JumpStart NEXT Fund has already invested more than $8.5 million in growing tech startups across the state of Ohio. Now, the NEXT Fund has a new portfolio company—Cincinnati-based ReadySet Surgical.
Founder & CEO Keerthi Kanubaddi launched the company in 2014 to solve a critical, but little-known problem in medicine—miscommunication among hospitals, surgeons and the vendors who provide surgical instruments used in millions of medical procedures.
The breaking point for Kanubaddi came when he experienced a lack of communication so severe that the proper tools were not present in the operating room for a surgical procedure on an infant, resulting in unnecessary complications and a longer stay in the hospital for the child.
Shaken by the experience and realizing there was no way to ensure it would not continue to happen, Kanubaddi set out to create a solution. The result was ReadySet Surgical, a cloud-based dashboard for that allows for real-time coordination of surgical vendor inventories and delivery logistics. Using this software, surgeons simply choose the tools they need, and system ensures that they have them in the operating room—every time.
Since the launch of the company, ReadySet Surgical has become one of Cincinnati’s hottest startups and has received funding and/or assistance from a who’s who of regional support organizations, including CincyTech—who funded the company via its $30 million Fund IV.
CincyTech also helped connect ReadySet Surgical to Mercy Health—the largest nonprofit healthcare system in Ohio—who not only invested in the company themselves, but also formed an agreement to use ReadySet’s software in its own hospitals.
With Mercy Health as an early-adopter and additional capital from new investors—including JumpStart—the company has gone on to land more major hospital clients across the country and expects to be deployed in more than 400 facilities over the next few years.
“Value-based care is here to stay,” says Kanubaddi of his growing company. “Healthcare IT solutions like ReadySet allow hospitals to identify areas of inefficiency and correct them in real-time. By streamlining the procurement of case-critical surgical inventory, we can ensure that hospital policies and patient safety are never compromised as a result of the surgical supply chain.”
JumpStart’s support of ReadySet Surgical makes it the 12th NEXT Fund portfolio company, joining two other Cincinnati startups—LISNR and enosiX.