EarlySense, an Israeli startup developing an electronic device for remote monitoring and follow-up of patients, has announced a $25 million Series G financing round led by Bank Hapoalim. Also taking part in the round were previous investors in EarlySense Pitango Venture Capital and JK&B Capital.
Monitoring critical indicators without having to connect the patient to awkward sensors
EarlySense‘s technology enables continuous monitoring for the medical health and consumer markets by using a flat sensor shaped like a standard cutting board and placed under a patient’s mattress. The sensor is capable of keeping track of a patient’s cardiac activity, respiratory rate, movement, and sleep, and issues real-time alerts of any emergency situation. Its medical solutions help doctors make timely diagnoses of deterioration in a patient’s condition, and also avoid cases of patients falling out of bed and developing bedsores.
The big advantage for the patient, of course, is that while they still benefit from monitoring at a strict medical level of accuracy, they do not have to wear awkward sensors that restrict them. More than 20 approved patents protect the company’s various technologies.
EarlySense’s products also include a monitor for the patient’s bed displaying up-to-date information about them, and a central display at the nurses’ station from which briefings and information can be obtained simultaneously for up to 36 patients. EarlySense’s systems are currently installed at hospitals, recovery centers, and homes in the U.S., Europe, Asia, and Australia. Some of the company’s technologies are already integrated in products marketed to the general public, including Samsung’s SleepSense, iFit’s Sleep Sensor, and Beurer’s Sleep Expert.
CEO Avner Halperin, Dr. Danny Lange, Dr. Guy Shinar, and Yossi Gross founded EasySense in 2004, but its first products were officially launched only in 2010. The current financing round brings the total raised by the company to $100 million from investors such as JK&B Capital, ProSeed Venture Capital Fund, Pitango Venture Capital, Mitsui & Co., and two important strategic investors: medical monitoring company Welch Allyn and Samsung Ventures, the giant South Korean company’s investment arm, which invested in the company’s preceding financing round.
Commenting on his company’s financing round, Halperin said, “We are experiencing exponential growth in the medical space and this funding enables us to continue to grow as well as launch consumer digital health offerings based on our medically proven technology.” He added, “More than 100,000 patients will be monitored with our sensors this year, allowing for better care … In expanding the reach of EarlySense, we can potentially impact millions of lives in both the medical and wellness markets.”
EarlySense has 90 employees in its Ramat Gan offices and 20 more in its sales offices in the United States, Europe, and the Far East.