Healthcare crowdfunding startup Watsi raises $1.2 million

A group of influential investors has backed Y Combinator’s first nonprofit graduate, Watsi, which applies crowdfunding to financing health care in third world countries. I wrote about the company when it was accepted into Y Combinator back in January. It was founded by three former Peace Corps volunteers — Chase Adam,Mark Murrin and Howard Glenn — and a tech consultant, Jesse Cooke. This week’s $1.2 million funding came from a large group of 16 investors, including Y Combinator co-founder Paul Graham, angel investor Ron Conway and venture investor Vinod Khosla. San Francisco-based Watsi helps the world’s poor pay medical bills through small donations. Donors choose who they want to support after seeing profiles on Watsi’s site and get updates on how treatment went later. “It’s incredible to think that the titans of Silicon Valley are coming together to reinvent philanthropy in the same way they did business,” Adam said. “I think we’ll look back on these 16 founding donors and say that they changed the future of healthcare.” [Source: Cromwell Schubarth – Senior Technology Reporter @ Valley Business Journal]

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