FAN Fund and New World Angels have invested $1.1 million in TAO Connect Inc.
Wednesday, January 6, 2016
TAO Connect picks up $1.1 mln
FAN Fund and New World Angels have invested $1.1 million in TAO Connect Inc. Based in Florida, TAO is an online mental health treatment provider.
Orlando, FL – FAN Investors I GP, LLC (“FAN Fund”) is pleased to announce that in collaboration with New World Angels it has completed an investment in TAO Connect, Inc., a Florida-based medical technology company that provides online mental health treatment over mobile devices using an innovative set of integrated SaaS tools. The funding will be used for TAO’s continued product development, marketing and customer acquisition, and to hire several more full-time employees. The company’s current focus is on the university counseling and wellness center market, and this funding will allow expansion into that market as well as adjacent markets including: individual therapists, Veterans Affairs, and Medicare populations.
“Working with FAN Fund is a win-win collaboration. During discussions, they challenged us to organize our strategic thoughts and be thorough in our narrative. The principals understood our vision and provided helpful contacts and insightful guidance,” said Bob Clark, CEO of Tao Connect.
“The decision to invest in TAO Connect lies first in the qualities of the management team: business experience, domain expertise, commitment to the business, and the drive to succeed,” said Mitchel Laskey, managing director of FAN Fund. “Furthermore, over the past year TAO has proven its go-to-market strategy by successfully on-boarding over 20 large university counseling and wellness centers. We are excited to work with this talented team and to be part of an investment group of other experienced investors.”
This investment follows closely on the heels of FAN Fund’s investment in Fattmerchant, an Orlando-based merchant services provider with an attractive pricing model and merchant service tools which greatly enhance the client merchant services experience.
About FAN Fund:
The FAN Fund was established to invest professionally managed angel capital in growth-oriented companies in the technology and life science sectors in Florida. The Fund’s focus is in companies that that are in seed or early stages. The Fund takes a hands-on approach with its portfolio companies, and works closely with members of the Florida Angel Nexus (“NEXUS”), an entity whose purpose is to coordinate, educate and grow the community of angel investors in emerging companies and to promote the entrepreneurial environment in Florida. For additional information please see http://www.thefan.fund.
About TAO Connect:
TAO’s innovative online mental health treatment was developed when founder, Dr. Sherry Benton, former head of the University of Florida Wellness Center realized that she would never have enough staff to meet service demand using conventional treatment techniques. TAO has since licensed technology from the University of Florida and expanded on that technology with in-house developed intellectual property which has led to an integrated SaaS solution. The company believes their system of shorter interactive therapy sessions and work modules allows mental health professionals a 2-3 fold increase in the number of patients treated while providing better therapeutic results. For additional information please see http://www.TAOconnect.org
Fattmerchant is an Orlando-based subscription-based payment processor that offers unlimited credit card processing without markups or contracts. Fattmerchant helps businesses slash variable fees on credit card processing by paying a flat monthly membership. Without adding markups, basis points or surcharges to the interchange rates of Visa, MasterCard or American Express, Fattmerchant provides credit card processing for businesses at a fraction of the cost. For additional information please see http://www.fattmerchant.com