Xealth Secures $24 Million in Series B Funding

AcuityMD, a cloud-based information platform for medical device professionals, announced the close of a $7 million financing round led by Benchmark with participation from Ajax Health.

As part of the investment, Eric Vishria, General Partner at Benchmark, will also join AcuityMD’s board of directors. The company will plan to use the new funds to accelerate hiring to double the team by the end of the year and continue to invest in product development.

Since launching in 2020, AcuityMD has created a data platform for the entire medical device lifecycle, from sale and surgery to patient outcomes.

AcuityMD says, traditionally, data about the performance of medical devices in the field were not shared across manufacturers, healthcare providers using products, or insurance companies paying for these procedures. The company’s data platform is created to connect medical device data from sales to patient outcomes so that manufacturers can track the performance of their products.

The company’s collaboration software is used across sales, marketing, medical education, and product development, enabling medical device companies to record how their products track and improve their products based on real-world patient outcomes.

Duke Rohlen, CEO and Managing Director of Ajax Health, said: “By translating data into actionable insights, AcuityMD empowers innovative medical device companies to more effectively connect their technologies with the right clinicians. In the process, the solution will create value for all stakeholders: device manufacturers, commercial teams, providers, payers, and, most importantly, patients.”

“AcuityMD sits at the intersection of healthcare, R&D, and data, and we couldn’t have better investors to help us tackle this opportunity,” said Mike Monovoukas, CEO, Co-founder, AcuityMD. “Benchmark has an unrivaled track record in building marketplaces and expansive enterprise networks, including in the health-tech sector, while Ajax brings deep expertise in the medical device industry.”

Digital Health companies raised a record $7.2 billion in VC funding in Q1 2021, according to the latest Mercom Digital Health Funding and M&A Report.