Seattle-based healthtech startup bttn. has closed a $5 million add-on to its seed funding round to continue modernizing the medical supply market.
The funding round was led by FUSE and brings the total seed funding raised by the startup since being founded in February of 2021 to $6.5 million. Brendan Wales, General Partner at FUSE, referred to bttn.’s potential to revolutionize the medical supply market by stating:
“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. 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.”
With the COVID19 pandemic having exposed the inefficiency and fragility of the medical supply chain, bttn. aims to create a digital solution to deal with price gouging, lack of supply, and arduous order fulfillment processes. The startup’s solution achieves this by recognizing trends and offering supplier discovery, allowing its users to save between 20-40% on medical supply bills. JT Garwood, CEO & Co-founder of bttn., referred to this approach by stating:
“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.”
Over its 6 months of existence, the healthtech startup has experienced rapid success and growth, closing more than $1 million in revenue and attracting over 400 customers. With organizations across the globe paying more attention than ever to their medical supply chain, bttn. expects this growth to continue as it increases its market share.