October 14, 2024
Launch NY Invests $75,000 in Ognomy to Support National Expansion
Ognomy’s Series Seed Preferred Round Fuels Growth
Launch NY has announced a $75,000 investment in Ognomy, a Buffalo-based telemedicine startup revolutionizing sleep apnea care. Ognomy, now covering 44 states with plans for nationwide reach by the end of 2024, has raised $6.8 million since its inception and served over 12,000 patients.
About Ognomy
Founded in 2021 by sleep specialist Dr. Daniel Rifkin, Ognomy addresses the gap in sleep apnea care by offering patients telemedicine consultations and personalized treatment plans, making high-quality sleep care more accessible.
Launch NY’s Continued Support
This latest investment brings Launch NY’s total contribution to Ognomy to $350,000 over three years:
- $175,000 in 2022
- $100,000 in 2023
- $75,000 in 2024
Ognomy also raised $60,000 in 2023 through Launch NY’s exclusive Investor Network, which supports Upstate NY startups. Altogeher, Launch NY’s InvestLocal Financing Programs have been instrumental in fueling Ognomy’s growth, and this partnership highlights the importance of combining local resources with national expansion strategies.
For Portfolio Companies
Launch NY’s investment in Ognomy showcases the value of leveraging mentorship, funding, and local resources to scale. Portfolio companies interested in funding opportunities should explore Launch NY’s nonprofit seed fund, limited partner funds, and Investor Network. To learn more, apply here.
Interested in the Investor Network?
For those Accredited Investors that want to gain access to the deals offered on our Investor Network, reach out to Jeanne Ernst at jernst@launchny.org.
Ognomy’s Future
The recent funding will enable Ognomy to expand into the remaining six states and invest in distribution, sales, marketing, and automation, ensuring a smooth and efficient customer experience. Ognomy employs 28 people, including 20 in New York, and is committed to providing high-quality care to the millions of undiagnosed sleep apnea patients worldwide.