Mainebiz

W W W. M A I N E B I Z . B I Z 11 S E P T E M B E R 1 7 , 2 0 1 8 Member FDIC Our experience. Your opportunity. nbtbank.com/maine Kimberly Twitchell Regional President 207.808.4487 | ktwitchell@nbtbank.com Daryl Wentworth Regional Commercial Banking Manager 207.808.4490 | dwentworth@nbtbank.com Joe Delano Senior Commercial Banking Relationship Manager 207.808.4486| jdelano@nbtbank.com Amy Taylor Cash Management Sales Officer 207.773.0010 | ataylor@nbtbank.com Maximize your business potential with an experienced team offering dynamic banking solutions. See for yourself why businesses in Southern Maine rely on NBT Bank's expertise and local decision making to reach their goals. Kimberly Twitchell Joe Delano Amy Taylor Daryl Wentworth MedRhythms raises $5M and now it's 'go time' B y m a i n e b i z s t a f f P ortland-based digital therapeutics startup MedRhythms said it has closed its $5 million venture-capital financing round with investments from the Maine Venture Fund and the Maine Technology Institute, among others. The announcement comes two months after the firm said it exceeded its original $4 million goal, raising $5.3 million of Series A financing. Jean Hoffman, founder and former CEO of Putney Inc., was an early investor in MedRhythms and added to her investment in the latest round. MedRhythms, founded and led by Brian Harris and Owen McCarthy, said its next steps are to develop and launch its patent-pending digital therapeutics platform that will focus on building evidence-based, FDA-approved prescription products, and expanding its staff with the hiring of several engineers and a commercial position. They started out in Boston but moved to Maine because "we believe that we could build a world-class business here," McCarthy, a Maine native who serves as MedRhythms' presi- dent, said in the announcement. "We have found the people and the resources in Maine to be very supportive of early stage, high-growth companies like ours," he said, adding that the firm is honored by the commitment from MTI and the Maine Venture Fund. John Burns, managing director of the Maine Ventures Fund, said the fund chose to partner with MedRhythms "not only for potential financial returns, but because they are as committed to growing the Maine economy as we are." MTI President Brian Whitney echoed those sentiments, saying: "MedRhythms is bringing exciting job opportunities to the Portland area … We are excited to help expand and elevate their company to a point where they can help make Maine a strong center in medical technology." B I Z M O N E Y We have found the people and the resources in Maine to be very supportive of early stage, high- growth companies like ours. — Owen McCarthy President, MedRhythms P H O T O / C O U R T E S Y M E D R H Y T H M S seem related to quality and short supply of housing that people con- sider to be affordable," Planning and Development Director Tanya Emery told Bangor Daily News. According to Maine State Housing Authority's 2017 Housing Facts and Affordability Index, 47.6% of Bangor households were unable to afford the median home price of $150,000, and 58.5% were unable to afford an average two-bedroom rental, with utilities, of $828. In December, Bangor Housing Authority was one of nine housing pro- grams across Maine awarded a total of $449,554 through the U.S. Department of Housing and Urban Development›s Family Self-Sufficiency Program. N O T E W O R T H Y N O R T H E R N & E A S T E R N Bangor Publishing Co., parent company of the Bangor Daily News, announced the acquisition of Bangor- based Pulse Marketing Agency, which was founded in 2009 by Cíntia Miranda, a veteran marketer. Bangor Publishing is family-owned and owns Bangor Daily News, Bangor Metro and weekly geographically targeted publica- tions in Maine. MedRhythms was founded and is led by Brian Harris, left, and Owen McCarthy. The Portland company says it has closed its $5 million venture-capital financing round with investments from the Maine Venture Fund and the Maine Technology Institute, among others.

• Cover