Swift Medical, a wound care management platform for healthcare enterprises, announced a Series B funding round of $35 million.
The investment was led by Virgo Investment Group, through one of its managed-investment funds, followed by existing investors Data Collective (DCVC), who led their Series A, and BDC Capital, through their Women in Technology Venture Fund.
Other participating investors include health technology firms Claritas Capital, Chrysalis Ventures, Pender Ventures, and Export Development Canada.
According to the company, the latest round of funding will help it expand its market position and scale its digital wound management platform across the care continuum in North America.
Swift Medical provides an AI-powered digital wound care platform. The platform allows any patient or clinician to quickly capture a high-precision image of their wound with their mobile phone.
And then, it autonomously determines wound dimensions and clinical characteristics, enables virtual wound care consultations, and provides real-time, predictive insights to drive enhanced preventive and personalized care.
“Wound care is a space that has been void of innovation for so long,” said Pooja Goel, Managing Director at Virgo. “A comprehensive approach to identification and treatment is needed to combat this silent epidemic. We are very excited and confident that Swift Medical’s wound engagement tool is going to transform the way patients heal across any care continuum, whether that be a hospital, skilled nursing facility, or at home.”
According to the company, its platform has been adopted by over 4,000 healthcare organizations across all 50 states, spanning the entire continuum of care.
“Wound care is a massive clinical and financial challenge at every bedside, which has been largely ignored by the technology industry,” said Carlo Perez, Co-Founder, and CEO at Swift Medical. “Through COVID-19, health systems have been waking up to the need to equip their clinicians with empathic technology that gives them the knowledge and confidence to provide world-class wound care for even their most complex, bedridden patients.”
Companies providing Practice Management Solutions raised $480 million in Q2 2021.