Infusion of Capital Supports Continued Business Expansion and Technology Upgrades
CHADDS FORD, Pa.–(BUSINESS WIRE)–September 2, 2015–
DecisionSim, Inc., the leading provider of simulation-based learning platforms, today announced the company raised $1.85 million in a Series A financing round, positioning the company and its lead product, DecisionSim™ for significant expansion in the U.S. and globally. Rittenhouse Ventures, a venture capital firm that invests in emerging technology companies, contributed $1.5 million and an additional $350,000 has been secured from Ben Franklin Technology Partners of Southeastern Pennsylvania.
“The new capital will benefit both existing and future clients by enabling us to enhance our simulation platforms, and will also allow us to expand into emerging growth areas such as life sciences and managed care,” said Bob Yayac, CEO of DecisionSim, Inc. “We are seeing high demand for DecisionSim from health organizations due to increasing pressure on them to deliver better quality, cost effective patient-care, and now we can offer even more value to these clients.”
DecisionSim, Inc. will put the funding toward doubling its staff within the next six months and increasing the scale and scope of its technology infrastructure. Planned enhancements include:
- Upgrade of the user interface to make it easier for clients to use DecisionSim on mobile phones and tablets, as well as design their own learner interface
- Migration to a new FedRAMP-compliant hosting environment to meet security and scalability requirements of government clients
- Development of a new client-facing dashboard to enable access to real-time data and immediate insights during a simulation
DecisionSim, Inc. is also securing re-seller licenses globally, beginning with Obvious Choice Pty Ltd, a leading Australian eLearning company specializing in ‘disruptive’ learning innovation. Additionally, DecisionSim, Inc. recently expanded its collaboration with the Department of Veterans Affairs-the largest integrated healthcare delivery system in the U.S.-and licensed communications training technology from Drexel University College of Medicine.
“We were attracted to DecisionSim, Inc., because of the versatility and effectiveness of its software platform across all types of learners and devices, which sets it apart from other simulation technologies,” said Bruce Luehrs, founder and Managing Partner of Rittenhouse Ventures. “We believe DecisionSim is a sustainable learning approach with limitless potential.”
For more information on DecisionSim, visit www.DecisionSim.com.
About DecisionSim, Inc.
DecisionSim, Inc. has been a leading provider of simulation solutions to the healthcare industry since 2010. Its flagship product, DecisionSim™, is a novel and fully customizable simulation-based learning platform that enables assessment and enhancement of decision-making through real-world experiences. DecisionSim has been adopted by top healthcare systems around the world, including the Department of Veterans Affairs, patient education innovators, pharmaceutical companies, medical societies, continuing medical education providers, insurers, academic institutions, and corporate training organizations. To learn more, visit www.DecisionSim.com. Follow DecisionSim, Inc., on Twitter and LinkedIn.
About Rittenhouse Ventures
Rittenhouse Ventures is a Philadelphia-based venture fund that invests in financing of information technology companies that utilize emerging technologies to create compelling business opportunities. The Fund invests across the Mid-Atlantic region in capital-efficient B2B focused IT companies, with a key focus on software-as-a-service (SaaS). The Fund’s Principals have led over 30 venture capital investments during the past 15 years and have significant operational experience helping young companies grow. The Fund’s primary verticals of interest include healthcare and pharmaceutical IT. More information about Rittenhouse Ventures is available at the company’s website at www.rittenhouseventures.com.
About Ben Franklin Technology Partners of Southeastern Pennsylvania
Ben Franklin is the most active early stage capital provider for the Philadelphia region’s technology sectors. Ben Franklin combines best practices of venture capital with a public-spirited purpose: leading the region’s technology community to new heights, creating jobs and changing lives for the better. Ben Franklin is an initiative of the Pennsylvania Department of Community and Economic Development and receives funding from the Ben Franklin Technology Development Authority. To learn more, visit www.partnerswithapurpose.org.
Lynn Barry, 484-899-0SIM (0746)
Director of Marketing