heartbeat medical, developer of a cloud-based medical information system that helps doctors make clinical decisions, closed a €5 million (~$6 million) Series A financing round.
According to the company, over 200 hospital teams, registries, and research institutions use its platform. The financing round was led by new investor btov Partners and existing investor HV Holtzbrinck Ventures.
High-Tech Gründerfonds (HTGF) is also increasing its holdings in the company.
“The health care system is experiencing a fundamental change in terms of how we understand the success of treatment,” said Yannik Schreckenberger, managing director of heartbeat medical.
Yannik Schreckenberger said: “The improvements in the quality of life actually felt by patients through conservative, surgical and drug treatments are becoming comparable to purely clinical data as a basis for decision-making. Reliably collected, representative and high-quality health data are the basis for subsequent innovations and improvements.”
According to the company, the new funds will support organizational development and the expansion of data analysis skills. Also, the investment is to be used to develop the current range of services further.
Founded in 2014, heartbeat medical has raised almost $10 million to date, including a raised €3 million (~$3.5 million) funding round in December 2017. The company employs less than 50 people with an office in Berlin, Germany.
“With its data-driven approach, heartbeat has the best chance of becoming a central provider for improvements in clinical treatments and processes as well as drug development. In doing so, heartbeat medical benefits from global regulatory developments that accelerate patient-centered healthcare,” said Jan-Hendrik Bürk, Principal at btov.
Digital Health companies raised $4 billion during Q3 2020, compared to $2.8 billion in Q2 2020, a 43% increase QoQ, according to the latest Q3 & 9M 2020 Digital Health Funding Report.
Image credit: heartbeat medical