The Wisconsin Economic Development Corporation announced today that is has certified Health eFilings as a Qualified New Business Venture (QNBV).

QNBV allows investors in Health eFilings to be eligible for a state tax credit of up to $1.25 million based on the amount invested in the business.

“WEDC’s support through programs like QNBV are critical to innovative companies such as Health eFilings being able to compete on a national landscape,” Health eFilings CEO Robert Hopton said in a statement.

According to a release, the healthcare IT company is currently raising funds to accelerate growth and expansion into other segments of the market that require similar solutions.

In 2015, the WEDC program helped 75 Wisconsin startups earn more than $176 million in total investment.