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Business name: Kryptiq Corporation Website: www.kryptiq.com/ Owners/founders: Luis Machuca, President and CEO, Kurt Koehler, CFO, Murali Karamchedu, Chief Architect, Jeff Sponaugle, CTO; Venture Capital: Voyager Capital - Seattle, WA, SmartForest Ventures - Portland, OR, Shelter Capital - Los Angeles, CA Years in business: 4 yrs Product(s): Connectivity software for health care. Employees: 90 Where are the markets (industries and/or businesses if B2B) for your products and how important are local customers for what you produce? Kryptiq serves the health care market. Local customers (such as Providence Health System and Kaiser NW Permanente) have been and continue to be extremely important to our success as a company, create solutions that not only meet their specific needs, but the needs of our other 650 customers around the country. Without their collaboration and support, we would not have seen the level of success we have achieved to date. What does your company do to differentiate itself and its products from those of its competitors? Kryptiq focuses on a single vertical market - health care. Our emphasis within this market allows us to serve the health care value chain in its entirety: providers, health plans, and patients. How has your business changed in the last 5 years (if it is even 5 years old)? Four years ago, Kryptiq's initial product was secure email for health care. Today, we have a suite of 10 products that work together to solve the connectivity problems of health care. The last two years? The largest change in the last 2 years has been Kryptiq's expansion into solutions for health plans. Our early products were designed for providers, which only represent a portion of the health care constituents. Key innovations in your company (products, processes, designs, ideas)? Product Innovations include ClinicalMessengerT, a secure messaging software solution that adds electronic communication capabilities to existing clinical information systems. GuardianT Contract Manager, a modular end-to-end contract management solution designed specifically for health plans. CareManagerT disease management software lets providers easily access, assess, and track important patient health indicators pulled from existing systems to manage patient populations with chronic conditions. Key breakthrough or turning point in the business: Our partnership with GE Health care was a major turning point. This relationship gave us instant credibility, validated our approach for connectivity, accelerated the ROI for our customers, and provided substantial revenue. We have also made three acquisitions that have helped fuel our growth. Finally, our initial deployments at Providence Health System and GreenField Health Systems provided Kryptiq with early beta customers and reference accounts for future sales. What's the biggest challenge facing your business? The largest challenge facing Kryptiq is that health care is an extremely complex industry, full of multiple stakeholders with competing agendas. This is further complicated by the fact that the benefits of information technology purchases do not often accrue directly to the purchasers. Can you describe how metro Portland works as a base from which to compete? Portland metro has provided Kryptiq with an excellent base from which to compete in the following areas: Proximity to Leading Health Care Organizations such as Providence Health System, The Regence Group, Legacy Health System, and Kaiser NW Permanente, has been invaluable. The region is a Health Care Technology Hotbed with many Portland pioneers of HIT, including staff and resources from MedicalLogic (acquired by GE Healthcare), MyHealthBank (acquired by QCSI), Emdeon (formally WedMD), Providence Health System, The Regence Group, Kaiser Permanente, GreenField Health System, Legacy, and OHSU. Additionally, Washington County and Hillsboro have been extremely supportive of Kryptiq. Both governments are pro-business and have created an excellent environment to headquarter a company.
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