Highmark Interactive, a newly founded digital therapeutics company, has raised $2 million in seed funding from ten private investors. The funding builds on the momentum of the acquisition of XMG Studio Inc., a specialized gaming company founded by Ray Sharma, founding Partner & CEO of Extreme Venture Partners.
Founded in 2009 and led by CEO Andy Smith, XMG has released 18 mobile games in various genres, targeting casual game players. As part of the acquisition, Smith joined Highmark Interactive as its new CEO.
“We have secured over ten world-class investors that believe in our vision and ability to execute and I couldn’t be more proud to have them involved,” said Dr. Sanjeev Sharma, Executive Chairman of Highmark Interactive. “Our diverse investment group includes top capital market investors, Canadian medical leaders and both Olympic and professional athletes across numerous leagues.”
Highmark plans to use the funding in order to grow the development team and to build new distribution partnerships for its games.
“We believe our video game technology will revolutionize patient management as it relates to the concussion epidemic and other traumatic brain injuries and diseases,” said Smith. “The oversubscribed round proves the team at Highmark is onto something special. We’re incredibly excited for the release of our games and the opportunities that lie ahead.”
Highmark also announced the hiring John Gardiner as CFO. Gardiner was most recently Director of Finance and Partnerships at Big Viking Games.
“I feel privileged to be working in what I believe is Canada’s next big boom sector- medtech,” said John Gardiner. “The potential to help millions of people made my decision to join Highmark an easy one. The fact that I get to work with such a creative and ambitious team is a huge bonus.”
Highmark said it is close to finalizing its advisory board containing a number of current and former professional athletes, which it will be announcing soon.
Highmark Interactive was co-founded by brothers, Sunil and Sanjeev Sharma, co-founders of Wellpoint Health Corp.
photo credit: Highmark Interactive