San Francisco, Calif.-based app developer Snaptic has raised $2.3 million in an initial funding round led by Boston, Mass.-based Excel Venture Management, a firm better known for its healthcare investments Excel’s managing director Juan Enriquez will also join Snaptic’s board of directors.
Snaptic has been developing a note-taking application called 3banana for the iPhone, iPad and Android devices. Snaptic describes its product as a ‘personal Twitter’. Where Twitter is for short notes users wish to put out in public, 3banana is a way of taking and storing personal notes. With Snaptic’s app, it is possible to also add photos to notes, and include location information in the notes, a process known as geotagging which is already popular on services like Flickr and Twitter.
Excel’s main focus is in healthcare and life sciences, and their interest in Snaptic stems from the convergence of Snaptic’s note-taking platform and the healthcare industry. “Some of the greatest unmet needs in healthcare result from how we manage our diet, fitness, and stress,” explained Snaptic CEO Steve Brown. “Excel sees an opportunity for the Snaptic platform to create positive feedback loops that help people make healthy lifestyle changes.”
Snaptic, founded in 2008, says it will use the funding to bring more engineers to its team and work on technology. Presently, the company has nine full-time employees. Snaptic has an application programming interface, or API, for third-party developers, and the company boasts three million active installs on mobile devices.
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