VitalConnect Raises $38M in Series C Equity Financing

VitalConnect, Inc., a San Jose, Calif.-based wearable biosensor technology for wireless monitoring in hospital and remote patient populations, announced the fourth and final Series C closing, bringing the total round to $38m.

The round was led by MVM and Baxter Ventures.

The company will use the funds for continued product development and rollout of the VitalConnect Platform and VitalPatch wearable biosensor in hospitals and outpatient settings across the nation.

Led by Nersi Nazari, CEO and founder, VitalConnect combines a biosensor – the VitalPatch – with a software platform that is already being implemented in select hospitals. The VitalPatch is a small and light Class 2 medical device approved by the U.S. Food and Drug Administration (FDA) that measures eight different vital signs continuously and in real time. The band-aid-like biosensor patch is single use and fully disposable.

Launched in 2011, the company has raised Series A funding of $12m that year, and subsequently closed a $22m Series B round in 2016.

FinSMEs

31/10/2017