[UPDATED] Jump Tech Banks $2m For Hospital Inventory Management Tools

Updated 11/19/2018: Eagan, Minnesota headquartered Jump Technologies has closed on the $2m round. 

Original 9/11/2018: Jump Technologies has raised $1.5m of a $2m equity round according to this SEC disclosure.

Jump was formed back in 1998 to put advertising barcodes into newspapers and magazines (similar to what QR codes are going for nowadays) but that never really took-off. Years later, however, their barcode scanning software + hardware combo called JumpStock has caught on in the market; it integrates with any ERP system to help hospitals save money and improve clinical outcomes by providing actionable analytics that drive a new level of standardization of clinical and operational best practices.

The company has earned thousands of paying customers and this new capitalization will be used to expand the company’s national sales efforts and support broader product development.  The round was led by Black Granite Capital and includes new strategic investor Mount Sinai Ventures and reinvestment by two other undisclosed investors.

Black Granite Capital put $3.5m into the the company last year after they had raised an estimated $1m strategic investment prior from an unknown healthcare provider within their target market. This pegs their overall capitalization around $6.5m considering the $2m in new money reported.  Jump Technologies is led by CEO John Freund and LinkedIn says the company has 23 affiliated individuals.