The Canadian startup was one of four startups selected by Mercury Grove last month to join their portfolio.
Health Wave is a turnkey mobile-commerce platform that makes it easy for health professionals to sell natural health products without carrying inventory. Health Wave's platform for Naturopathic Doctors has an annual run rate of more than $1 million in transactions with a high percentage of repeat orders. The company will use the funds to expand into the US and increase their customer base.
"Health Wave is clearly the future of health-related product distribution," says Scott Annan, managing director of Mercury Grove. "Health Wave combines mobile, e-commerce, and virtual inventory with real-time distribution to make it inexpensive and simple for doctors, patients, and health product manufacturers. I am particularly impressed with the quality of the team and the progress they've made in such a short time."
The Ottawa company plans a full launch across the US in early September. They're also hiring: the startup is seeking both a user interface designer and a software engineer through the Techvibes Job Board.