Investor Update - 2026-05-17

Status: Active pre-seedRound stage02.1 Use of Funds · pre-seed $2.25M raise diligence update
Raise: $2.25MRound sizeRōvn SAFE term sheet · 2026-05 · canonical raise (see 02.1 Use of Funds) on a $15M post-money SAFERound structureRōvn SAFE term sheet · 2026-05 · $2.25M / $15M post-money cap
Product frame: the operating network for the healthcare workforce (verify a clinician once, reuse everywhere)

What changed

The investor story has been refreshed around the real product depth: Rōvn turns source evidence into credentialing, privileging, monitoring, payer-readiness, and audit-ready human decisions.

The prior site/deck framing underweighted AI and overemphasized a facility subbrand. This room now centers the AI workflow engine while keeping the regulated boundary explicit.

Doctrine: AI operates the workflow. Source systems prove the facts. Humans make every regulated decision.

May 17 product proof

• Provider lifecycle and credentialing trust hardening shipped in the May 17 production proof set.
• Receipt-bound trust states now block "ready", "verified", "passed", or "cleared" states unless supported by valid source receipts where enforcement is wired.
• Verification coverage reports 43 rolesRole coverage43 healthcare roles in the Rōvn workforce catalog · 07.7 + 11.3 coverage grid across 51 jurisdictionsJurisdictional coverage50 US states + DC = 51 jurisdictions · 11.3 coverage grid · 07.7 Source Authority Rail: 2,193 role/state coverage cells and 0 unsupported catalog cells.
• Coverage is labeled honestly: API/source-receipted where live; manual PSV where automation is not live.
• Persona is sandbox-configured and explicitly blocked from production identity-verification claims until production access is approved.
• Nursys e-Notify local adapter work now matches the user-provided API v3.1.5 specification; source access still requires institution account credentials.

Commercial update

The raise is now $2.25MRound sizeRōvn SAFE term sheet · 2026-05 · canonical raise (see 02.1 Use of Funds) on a $15M post-money SAFERound structureRōvn SAFE term sheet · 2026-05 · $2.25M / $15M post-money cap, not the prior lean/ceiling framing. The clean investor line:

Rōvn is raising $2.25MRound sizeRōvn SAFE term sheet · 2026-05 · canonical raise (see 02.1 Use of Funds) on a $15M post-money SAFERound structureRōvn SAFE term sheet · 2026-05 · $2.25M / $15M post-money cap to complete and commercialize the operating network for the healthcare workforce, launch paid design-partner pilots, harden compliance/security, and build the first repeatable sales motion.

Budget now accounts for two paid founders, product/engineering support, compliance/legal, verification vendors, AWS/AI/tooling, pilots, travel/materials, one GTM hire, advisors, and buffer.

Advisor update

The first clinical advisor is now confirmed: Danielle K. Miller, DNP RNAdvisor credential01.9 Advisor Deck · Dr. Danielle K. Miller, DNP RN, Founding Advisor (California CNO / senior nursing operator), with founder-provided profile at linkedin.com/in/daniellecnoofca. Danielle K. Miller, DNP RNAdvisor credential01.9 Advisor Deck · Dr. Danielle K. Miller, DNP RN, Founding Advisor is the only public-named advisor.

Investor-safe wording: first clinical advisor confirmed; additional clinical, operational, and commercial advisor seats are in progress. Exact public title/name usage should follow advisor-approved wording before website or deck publication.

Outside legal counsel

Jason Thomas Acevedo is named publicly as outside legal counsel for Rōvn, Inc. (consented 2026-05-27). All MSA, DPA, BAA, IP-assignment, SAFE, formation, and contractor-agreement language runs through Jason before signing, including the Delaware conversion package, founder stock + 83(b) workflow, customer agreement templates, vendor BAA re-papering, and the pre-seedRound stage02.1 Use of Funds · pre-seed $2.25M raise SAFE close.

National coverage update

The wedge is no longer local-only or limited to a subset of states. Rōvn's verification coverage map is national-first: 50 states plus DC. Go-to-market can still prioritize reachable design partners and high-urgency facilities, but the product proof and investor story should not imply geographic limitation.

Regulated expansion plan

The room now separates:

• Phase-1 pilot workflow.
• Medical staff credentialing and privileging expansion.
• OPPE/FPPE and reappointment.
• Provider enrollment and payer readiness.
• Document management and audit export.
• RBAC, multi-facility administration, and security hardening.

Hospital-grade depth is now visible as build scope, with claim labels so investors can see what is live, partial, scaffolded, and planned.

Claim boundaries

Rōvn should not claim:

• Rōvn assists hiring; humans hire, credentials, privileges, disciplines, reports, or clinically judges.
• Full automated CAQH, PECOS, Medicaid, or commercial payer submission.
• SOC 2 Type II in progressSOC 2 status06.3 SOC 2 Type II Plan · auditor selected, controls in implementation or SOC 2 Type II in progressSOC 2 status06.3 SOC 2 Type II Plan · auditor selected, controls in implementation attested (Rōvn is pursuing SOC 2 Type II directly with Drata; report target Q3 2027).
• NCQA-alignedNCQA posture06.8 NCQA CVO Trajectory · NCQA-aligned (not certified) CVO trajectory.
• Joint Commission survey-ready (Rōvn is Joint Commission / CMS surveyor-readySurveyor posture06.7 Compliance Binder · surveyor-ready evidence chain, not surveyed).
• any HIPAA certification language (Rōvn is HIPAA-alignedHIPAA posture06.2 HIPAA Posture Memo · canonical procurement-safe phrasing (not 'compliant' / not 'certified') · BAA availableBAA posture06.4 Vendor BAA Matrix · customer BAA template at 08.9).
• Every worker is fully verified automatically.

Rōvn can claim:

• AI-assisted regulated workflow.
• Source-backed credentialing and monitoring rails.
• Receipt-bound readiness where enforcement is wired.
• 43-role, 51-jurisdiction coverage map with API/manual-review labels.
• Human-reviewed decisions with audit receipts.

Current blocker list

• Paid customer logos: none yet.
• Signed pilot LOIs: pending founder update.
• SOC 2: Type II in progress with Drata (observation window opening Q3 2026; report target Q3 2027); not certified.
• NCQA: NCQA-alignedNCQA posture06.8 NCQA CVO Trajectory · NCQA-aligned (not certified); CVO certification trajectory in progress, not certified.
• Payer enrollment: scaffold/build, not core live workflow.
• Full medical staff privileging: expansion build, not complete end-to-end today.

Bottom line

The stronger story is also the safer story: Rōvn is not selling "Rōvn surfaces evidence; humans decide." Rōvn is selling the AI workflow layer and evidence record that make regulated human decisions faster, cleaner, and easier to defend.