Eagan, MN – April 26, 2017 – Jump Technologies, Inc., an innovative software company with solutions that improve supply management in hospitals, today announced it has completed a round of funding to accelerate its growth strategies. The $3.5 million investment comes from Black Granite Capital LLC and its partners. Black Granite Capital is a growth equity firm focused on investments in healthcare and technology companies. This investment will be used to expand and enhance Jump Technologies’ cloud-based solutions and grow the company’s sales, customer success, development and quality assurance teams. Jump Technologies has grown its customer base by over 200 percent and increased its staff by approximately 50 percent during the past year.
“Our mission at Jump Technologies is to help hospitals improve cash flow and bottom line profitability through better supply management. Accomplishing this mission gives hospitals new opportunities to direct saved dollars toward improvements in patient care. In turn, this helps achieve our vision of contributing to a better overall healthcare system - in the U.S. and throughout the world. The partnership with Black Granite accelerates that vision.”
Today’s funding announcement reflects the success of Jump Technologies over the past several years. The company has received several awards for its innovative solutions, including Supply & Demand Chain Executive’s SDCE 100 Top Supply Chain Projects for both 2015 and 2016, and has launched several new innovative solutions, including the InnerTrack™ package tracking and receiving solution and the JumpStock™ OR Module, designed to track high-dollar inventory in the operating room and create instant supply forecasts and procedure cost reports.
“Black Granite Capital invests in fast-growing healthcare and technology companies, with proven, market-leading solutions, led by highly experienced management teams,” said Noah J. Kroloff, Managing Partner, Black Granite Capital. “Supply of materials is a very large driver of costs in hospitals but the management tools are limited, very expensive, hard to use or all of the above. JumpTech’s large hospital customers selected JumpTech mobile solutions because they are the most cost-effective and easiest to use solutions for replenishing and managing supplies across many facilities. JumpTech customers tell us that what they pay for JumpTech’s tools has already been paid back many times over, both in terms of actual cost savings and freed-up cash. We wanted to help the company bring those benefits to the many hospitals we know need the system.”
“It’s our privilege to help hospitals and health systems solve their supply challenges, and it’s our goal to change the way business gets done,” said Freund. “JumpTech wants to lead supply chain change – we’re here to replace archaic systems and manual processes with innovative, cost-effective solutions that drive savings through data analytics, lower inventories and less waste. Our growing team is passionate about implementing solutions that are revolutionizing current supply chain systems.”
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About Jump Technologies, Inc.
Health systems using supply chain solutions from Jump Technologies improve the way supplies are managed, from demand through use and replenishment. Jump Technologies’ solutions enable precise, automated supply management, driving significant cost and labor reductions. JumpTech solutions, including JumpStock™ Inventory Management and InnerTrack™ Receiving & Package Tracking, make a positive impact on a healthcare organization: reducing overstocking, stock-outs, hoarding and waste, while increasing inventory turns, data-driven decision making, and accurate forecasting and planning. With JumpTech, hospitals and health systems are reducing inventory by as much as 50 percent system-wide, in turn, freeing up cash and helping improve the bottom line. For more information, visit www.jumptech.com or call (888) 373-7226. Follow the company on LinkedIn and Twitter @JumpTechNews.