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2004 2003200220012000 |
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Bloodhound Secures $3 Million in
Funding Six Investors Show Continued Confidence in Medical Claims Overpayment Protection Company Research Triangle Park, TN (November 25, 2002) -- Bloodhound, Inc., an application service provider focused on claim overpayment protection services for health insurers, HMOs, TPAs, IPAs and other at-risk medical payment organizations, today announced that it has obtained a commitment for $3 million in additional capital through the successful completion of Series E Preferred Stock Financing activities. Led by Noro-Moseley Partners, Atlanta, Ga., this fifth round of funding wil lgive Bloodhound the resources it needs to achieve profitability in 2003. In addition to Noro-Moseley, five other venture capital firms are involved in the investment: The Wakefield Group, Charlotte, N.C and Research Triangle Park, N.C; SSM Ventures, Memphis, Tenn.; Delta Capital Management, Cordova, Tenn.; Eno River Capital, Durham, N.C. and A.M. Pappas & Associates LP, Durham, NC "In today’s challenging investment climate, I am very pleased to announce the successful completion of our Series E funding," said Gary Twigg, president and CEO of Bloodhound. "Our company has continued to make significant strides in 2002, and we are well-positioned for phenomenal success in the coming year. As the sophistication and capabilities of our service have increased, we are attracting the attention of key players in the health insurance industry. This round of financing will provide the means by which we reach profitability in 2003." About Bloodhound, Inc. Founded in 1997, Bloodhound, Inc. is an application service provider specializing in medical claims overpayment protection services and advanced data modeling. Bloodhound's flagship product, ClaimsGuardSM Overpayment Protection Service, safeguards insurers, TPAs, HMOs, IPAs and other at-risk medical payment organizations from medical claims overpayment due to duplicate claims and other complexities resulting from processing large volumes of data through traditional claims and medical payment systems. The company is headquartered in Research Triangle Park, NC ClaimsGuard is a Service Mark of Bloodhound, Inc. Contact: Bloodhound, Inc. ATTN: Marketing (919) 313-1627 info@bloodhoundinc.com Don Mundie Delta Capital Management LLC 901-755-0949 |
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