MedAnswers, a digital health app that at first connects infertility patients to experts for on-demand questions and answers, announced on Thursday the launch of its Reg CF campaign. The funding round was revealed by founder and CEO of MedAnswers, Alice Crisci. As a cancer survivor, single mom and medtech entrepreneur, Crisci was in search of alternative sources of seed funding. The company has chosen crowdfunding platform StartEngine as the exclusive platform for information relating to the company, disclosures, suitability for participation, and any offering terms.
Speaking about the new funding round, Crisci stated:
“We love the idea of inviting the same people who need to use our product to be investors. We recognize traditional investors might push back on this, but we are proud of our offering and believe in democratizing private fundraising. It’s awesome to think some of our shareholders will be the very same people MedAnswers aims to help.”
The company explained it was launched as a medical education platform for infertility on the iTunes store in June with more than 40 experts. Reproductive endocrinologists are alongside embryologists, geneticists, genetic counselors, psychologists, and reproductive attorneys to serve the patient community. Patients may ask their questions anonymously and experts are to answer and upvote each other’s answers in a similar fashion to Quora or Stack Overflow. Santiago Munne, Ph.D. and co-founder of MedAnswers, commented:
“We wanted to end the spread of false healthcare information happening in private Facebook groups and on the web. Many doctors know all too well how patients can be led down the wrong path of self-diagnosis or worse self-treatment. MedAnswers is fixing this burgeoning problem through our mobile platform.”
While the basic question and answer are free, patients can pay a rush fee for answers they need in 24 hours or less. MedAnswers is also allowing companies and brands to pay for sponsored, educational content. Funds from the StartEngine campaign will be used to expand the MedAnswers’ mobile app. It is set to close at the end of September.
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