Jump Technologies receives $2M in follow-on Series B funding, bringing total round to $5.5M

Jump Technologies, a leading hospital supply chain solutions provider, announced today it has closed a $2 million follow-on investment round, which will be used to expand the company’s national sales efforts and support broader product development.

Headquartered in Eagan, MN, Jump Technologies delivers a cloud-based hospital supply chain software solution called JumpStock, which integrates with any ERP system to help hospitals save money and improve clinical outcomes by providing actionable analytics that drive a new level of standardization of clinical and operational best practices.

This latest round of investment into Jump Technologies was led by Black Granite Capital and includes new strategic investor Mount Sinai Ventures and reinvestment by two large investors.

“Additional investment capital helps us expand our footprint more quickly to hospitals and health systems across the country,” said John Freund, CEO, Jump Technologies. “Hospitals invest in cutting-edge technology to treat patients, but when it comes to inventory management, some facilities still rely on individuals counting materials in store rooms every day. We’re improving this dramatically with our powerful automation and data analytics and simple user interface. By delivering actionable analytics that are visible to all areas of the hospital, we can positively impact the supply room, patient care, and an organization’s bottom line.”

JumpStock integrates seamlessly into clinical workflows and delivers reports that help clinicians and supply chain professionals make informed decisions about supply utilization throughout their facilities – including high-cost areas like operating and procedure rooms. With JumpStock, hospitals can more easily standardize utilization of supplies, which allows them to save money and reallocate funds to clinical resources and technology that improve patient care and generate new revenue. JumpStock also ensures that clinicians have the right supplies when and where they are needed so as not to slow down surgeries and other clinical therapies. For example, Jump Technologies’ customers, such as the Mount Sinai Health System, have been able to reduce stock-outs, which helps clinical practice, while increasing inventory turns, which improves the hospital’s bottom line.

“Health Systems need to drive innovation in business practices and technologies, not only in clinical care or practice,” said Les Grant, Corporate Director of Materials Management for Mount Sinai Health System. “Our partnership with Jump Technologies has enabled the development of a best-in-class inventory management solution that reflects the unique needs of our system and brings increased efficiency and support to our world-class clinical teams and the patients we serve.”

To learn more about Jump Technologies, visit https://www.jumptech.com/product/.

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About Jump Technologies

Jump Technologies creates modern solutions for supply chain and inventory management that help hospitals and health systems track supplies from the loading dock to the patient. The company’s JumpStock solution reduces stock-outs, over-ordering, and waste while increasing inventory turns, improving billing accuracy, and facilitating data-driven decision making across a facility or system. To learn more, visit http://www.jumptech.com or call (888) 373-7226. Follow Jump Technologies on LinkedIn and Twitter @JumpTechNews.

About Mount Sinai Ventures

Mount Sinai Ventures was established by the Mount Sinai Health System in 2008 as part of its commitment to defining the future of health care. Mount Sinai Ventures leverages the talent and expertise across the Mount Sinai Health System by investing in innovative businesses that are poised to improve quality, drive down cost, and expand access to healthcare services. The portfolio includes over 20 companies, including Epicured, Gauss, Jump Technologies, Accuity, urgent care centers, and ambulatory surgery centers.  To learn more, visit www.mountsinai.org/about-us/mshcv/

About the Mount Sinai Health System

The Mount Sinai Health System is New York City’s largest integrated delivery system encompassing seven hospital campuses, a leading medical school, and a vast network of ambulatory practices throughout the greater New York region. Mount Sinai’s vision is to provide the safest care, the highest quality, the highest satisfaction, the best access and the best value of any health system in the nation. The System includes approximately 7,100 primary and specialty care physicians; 10 joint-venture ambulatory surgery centers; more than 140 ambulatory practices throughout the five boroughs of New York City, Westchester, Long Island, and Florida; and 31 affiliated community health centers. Physicians are affiliated with the renowned Icahn School of Medicine at Mount Sinai, which is ranked among the highest in the nation in National Institutes of Health funding per investigator. The Mount Sinai Hospital is ranked No. 18 on U.S. News & World Report’s “Honor Roll” of top U.S. hospitals; it is one of the nation’s top 20 hospitals in Cardiology/Heart Surgery, Diabetes/Endocrinology, Gastroenterology/GI Surgery, Geriatrics, Nephrology, and Neurology/Neurosurgery, and in the top 50 in four other specialties in the 2017-2018 “Best Hospitals” issue. Mount Sinai’s Kravis Children’s Hospital also is ranked in six out of ten pediatric specialties by U.S. News & World Report. The New York Eye and Ear Infirmary of Mount Sinai is ranked 12th nationally for Ophthalmology and 50th for Ear, Nose, and Throat, while Mount Sinai Beth Israel, Mount Sinai St. Luke’s and Mount Sinai West are ranked regionally. For more information, visit http://www.mountsinai.org, or find Mount Sinai on Facebook, Twitter and YouTube.