Etiometry, a clinical decision-support software for the intensive care environment, announced a fully subscribed $9 million Series A-3 extension raise.
The latest round of funding was led by SKK 9i Ventures, with participation from Shamrock Holdings and other healthcare investors. The company plans to use the new funds to fund commercial expansion, accelerate vital research and development, support management team expansion, and drive clinical initiatives.
According to Etiometry, its software aggregates patients’ vital signs from multiple sources into one streamlined platform to help clinicians understand evolving clinical risks and make data-driven patient care decisions. The company’s software provides valuable clinical insight and analysis to support early recognition of subtle changes in patients’ conditions to avoid complications and speed recovery.
The clinical decision-support software is used by more than 20 children’s hospitals and several adult ICUs at several medical centers in the U.S., the company said.
“Our growth since our last round of funding is a testament to the market’s receptiveness to our decision-support tools,” said Shane Cooke, CEO of Etiometry. “This additional capital will be instrumental in our ability to offer our cutting-edge, innovative technologies to an even wider range of patients across several care settings within the hospital.”
“Seeing the value that Etiometry brings to clinicians made the company a clear investment choice for us,” said Dave Shepherd, Managing Member of SKK 9i Ventures. “With the vast number of data points generated by each bed in an ICU, the need for synthesized and streamlined data is evident. Clinicians need technologies like those developed by Etiometry so that they can make the best treatment decisions for their patients.”
Clinical Decision Support software companies raised over $600 million in 15 venture capital (VC) funding rounds in Q1 2021, compared to $505 million in 12 funding rounds in Q4 2020, a 31% increase in quarter-over-quarter funding activity, according to the latest Mercom Digital Health Funding and M&A Report.