I am happy to announce we have just finished our latest capital raise of $1.7 million. The last 12 months have been a whirlwind of activity. The support all of you, our amazing customers, have shown continues to blow me away. Thank you for the support of our customers and partners.
Together, with your support, we have:
- Achieved 300% customer growth in 12 months
- Through customer feedback developed over 500+ metrics
- Serviced more than 500 medical practices
- Increased team headcount, from 4 to 16. All based in Queensland, Australia
It was only the other day when I sat down with our Cubiko Chairman, Dr John Aloizos AM, to discuss wanting to make a real impact on the industry. An everlasting impact, to help medical practices become more financially sustainable through their use of data. We decided to go further with this goal and make a more immediate impact by raising capital to leverage opportunities. This This capital raise will help build an amazing product and provide outstanding service to our customers.
So what do we have planned? Shameless plug, but you can come along to Cubikon2021 to learn even more about what we have planned!
We have been working incredibly hard to develop an Australian-first. Cubiko Multisite has aggregated reporting and optimisation metrics for groups with multiple practices. This additional product will help Cubiko provide additional support to gather data and insights across multiple servers and multiple practices.
Benchmarking data can be beneficial for practices to know where they stand. Luckily the government makes MBS data available. Our Data Analysts are working on the data set and then bringing that data into Cubiko so that practices can look at their billing patterns vs. the MBS data set.
One of our product objectives has been to deliver data analytics and in-depth reporting in an easy-to-understand fashion. My Dashboard allows our customers to select which metrics matter to you. By favouriting metrics, a customer can set up their custom dashboards. Do you want to reduce DNAs? Collate the metrics to focus on onto My Dashboard by marking them as a favourite, and utilise them together to help reduce DNAs. Increase billings by focusing on 721/723 item eligibility? Metrics you can favourite to help you increase billings and deliver outstanding patient care. My dashboard helps you and your team stay focused on the metrics that matter for your practice.
So, what has changed?
Honestly, not much. This raise mainly was a continuation of friends and family investment from our first seed round. It includes the addition of angel investment company ACAC Innovation.
Our customers and product are still — and always have been — our primary focus. With this raise, it’s a continuation of business as usual.
Safety and Security
We have developed a trust centre to help communicate the steps we take to ensure your data is safe. As we’ve continued to grow, we have taken added measures to ensure security and the trust all of our customers put in us with their data is at the forefront of our mind. To help ensure security is a top priority, over the last 12 months, we have:
- Joined Xero’s App Partner program that involves security testing in how our product communicates with their API.
- Had 3rd Party penetration testing
- Achieved Gold Partner BP status
- Infrastructure on Amazon Web Services, which adheres to ISO/IEC 27001:2013, 27017:2015, 27018:2019 and 9001:2015.