Central Piedmont Investment Group, a, Macon, Georgia-based angel fund, is making a $150,000 seed round investment in Medicare Pathfinder, a healthcare technology startup.
In a separate announcement, Atlanta-based Medicare Pathfinder said it received an additional $25,000 seed investment from another investor.
Medicare Pathfinder uses data science and design to help seniors navigate the maze of Medicare plans, options, and supplements to find coverage that meets their needs and budgets.
It is a member company in the Advanced Technology Development Center’s ATDC Accelerate portfolio. ATDC, the state of Georgia’s technology incubator, is a economic development program of Georgia Tech’s Enterprise Innovation Institute.
“Medicare Pathfinder has created an easy way for seniors — and the families supporting them — to navigate complex sets of options to select the most appropriate plan for each senior,” said Bob Easter, Central Piedmont Investment Group’s managing director.
Founded in 2016, the principals of Central Piedmont Investment Group created the fund to support and foster the development of promising ventures that contribute to Middle Georgia’s flourishing economic ecosystem. In addition, this group looks to invest throughout the state of Georgia and the southeastern United States. Central Piedmont Investment Group has $500,000 in assets under management, and is starting a second fund early 2018.
“Not only do these users benefit greatly from using Medicare Pathfinder, but so do insurance providers and federal and state government agencies,” Easter said. “Our investment group wanted to support this initiative.”
With these two investments, Medicare Pathfinder has raised $425,000 in outside capital.
“Entrepreneurs should always seek smart money and we like that each member of Central Piedmont Investment Group is a successful entrepreneur who provides a wealth of real-world business experience,” said Scott Cadora, Medicare Pathfinder’s CEO and founder.
“Their investment provides our company with both capital and valuable business insights that will help us execute our go-to-market strategy. We appreciate that they believe so strongly in our team, our technology and our business plan.”
The funds will be used to launch its technology, marketing and to develop follow-on technology, Cadora said.