Ludi, Inc. Closes $1M in Series A Financing
Ludi to Enhance Product Functionality and Reporting for Health System Clients
CHICAGO, July 29, 2014-- Chicago-based Ludi, Inc., a leading provider of solutions for physician-hospital alignment strategies, today announced it has closed a $1 million Series A financing. The Martin Companies, a health care and technology focused investment firm in Nashville, Tennessee, financed the entire round.
The funding will be used to scale the company during this period of rapid growth. Ludi’s first product, DocTime Log®, is a physician payment platform that enables health care providers to measure and manage the physician alignment spend. It includes an automated mobile solution for physicians to log hours, automated workflow, robust tracking for time log approval, and analytic reporting. DocTime Log® drives regulatory compliance, reduces administrative cost, reduces variation, streamlines operations and builds trust with the physician network.
“We are excited to be partnering with an organization that shares our vision of improving the health of individuals and populations through innovative health care technologies and services,” said Gail Peace, President and Founder of Ludi. “The operational expertise and guidance offered by The Martin Companies and the synergies within the portfolio made them an ideal partner for Ludi.”
“We are proud to support emerging companies, like Ludi, that offer real solutions to hospitals,” said Charles Martin, CEO, Chairman and Founder of The Martin Companies, “The physician payment platform developed by Ludi is a tremendous tool that assists health care systems in assuring regulatory compliance while simultaneously improving physician engagement.”
Founded in 2012, Ludi, Inc. is a national provider to hospitals, health systems and outpatient service providers. They recently completed the four-month Healthbox business accelerator program in Chicago, Illinois.
About Ludi, Inc.
Ludi provides solutions that help hospitals and health systems automate, track, and reduce administrative expenses and potential risks of physician alignment strategies. The products are all secured, web-based solutions that are hosted by Ludi for ease of implementation and confidentiality. The products empower hospitals and health systems to manage their own relationships more efficiently, saving staff time, reducing errors and decreasing the risk of being deemed out of compliance. For more information, visit www.ludiinc.com.
About The Martin Companies
The Martin Companies is a Nashville-based investment company that provides capital, operational support and mentoring to early-stage companies primarily focused on health care and technology initiatives. Founded in 2009 by Charles N. Martin, Jr., The Martin Companies augments its investment capital with valuable market experience and operational support in a coordinated effort to help guide seed and early-stage companies and position them for success. The Martin Companies also provides scalable best-practice corporate functions that create an ideal early-stage environment, allowing entrepreneurs to focus intently on building their business. For more information, visit www.martincos.com.
Gail Peace, 773-866-2860
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