MedScout raises USD 5M seed investment

MedScout, the revenue acceleration platform revolutionizing commercial operations for medtech and life sciences companies, is excited to announce the successful completion of a $5M Seed investment round. The round was led by Stage 2 Capital, with participation from Pre-Seed lead LiveOak Venture Partners, as well as Alumni Ventures, and a16z’s Scout Fund. This funding will further fuel MedScout’s mission to provide advanced sales intelligence tools purpose-built for selling into healthcare.

The medtech and life sciences sectors have traditionally relied heavily on in-person interactions and personal relationships in their sales processes, resulting in significantly higher SG&A expenditure compared to other technology companies. However, the paradigm shift caused by the pandemic, technological advancements, and macro changes within healthcare have created a strong market demand for innovative solutions like MedScout.

MedScout has emerged as a game-changer in the industry. Unlike legacy players, MedScout offers a comprehensive revenue acceleration platform that combines the latest medical claims intelligence across public and private payors with an intuitive user experience designed specifically for sales professionals and leaders. Customers have lauded MedScout for its ease of use and powerful CRM integration capabilities. It enables sales representatives to efficiently prioritize opportunities, map out their schedules, and access valuable referral data to build stronger relationships with physicians and practices. Additionally, MedScout provides commercial leadership with better insights into their unique market opportunities, enabling them to align sales and marketing efforts for increased effectiveness. In a recent case study, Steve Kassis, a sales leader at Elevation Spine, said, “It’s really been game-changing, to be completely frank with you. And with the integration with HubSpot, it’s even taken it to another level. And I think, honestly, it’s an invaluable tool for any company to have.”

“We believe that medtech sales is undergoing a similar evolution to what we’ve witnessed in technology sales, where data and technology drive efficient results,” stated Stage 2 Capital. “MedScout’s revenue acceleration platform perfectly addresses the needs of the industry, empowering sales professionals and leaders with actionable insights and a user-friendly interface. We were impressed with the thoughtfulness of co-founders Skylar Talley and Casey Shattuck during their participation in our Catalyst Program, and we are thrilled to support their vision.”

“We’re absolutely ecstatic to have secured this investment”, said Skylar Talley, CEO of MedScout. “We can’t wait to devote 100% of our energy towards enhancing the MedScout platform, expanding our market reach, and providing sales teams and leaders with the tools they need to get innovative medical technology into physicians’ hands faster. We’re grateful for Stage 2’s support and belief in our vision, and we think it’s a perfect fit. The first VC firm backed by hundreds of GTM executives supporting the GTM platform for selling into healthcare!”.

With the substantial capital injection, MedScout is well-positioned to accelerate its growth and further establish itself as the go-to revenue acceleration platform for medtech and life sciences companies. The company remains committed to innovation and a customer-first mindset. They’ve already added headcount in Engineering and Customer Success to support the growth they’ve experienced this year. They plan to hire people in Sales, Marketing, Engineering, and Product over the coming months. Mandy Cole and Mike Marcantonio will join the MedScout Board, adding extensive sales leadership, healthcare, and institutional investing experience.
MB Bureau