EarlySense raises $25 million for global expansion of monitoring technology
June 1, 2016 – RAMAT GAN. EarlySense, the market leader in contact-free continuous monitoring solutions, announced today that it has completed a $25 million round of funding, led by Israel’s largest bank, Bank Hapoalim, with participation from Pitango Venture Capital, JK&B Capital and other previous investors.
“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,” said Avner Halperin, CEO of EarlySense. “More than one hundred thousand patients will be monitored with our sensors this year, allowing for better care. There is a real need to bring these capabilities to individuals and their family members at home. In expanding the reach of EarlySense, we can potentially impact millions of lives in both the medical and wellness markets.”
EarlySense’s contact-free monitoring system is FDA-cleared and CE-approved. The system enables healthcare professionals to track patient heart rate, respiratory rate and movement constantly through a sensor placed under the mattress. Continuous data is displayed on the bedside monitor and in nurse monitoring stations and is also delivered to healthcare professionals’ smart-devices. EarlySense technology leverages Big Data and advanced algorithms to generate highly accurate health information empowering clinicians to achieve early detection of adverse events and improved patient outcomes.
EarlySense technology also powers several consumer health products including Samsung’s SleepSense, iFit’s Sleep Sensor and Beurer’s SE 80 Sleep Expert.
“We view EarlySense as a company with an outstanding opportunity to become the leading player in a fast-growing market. This investment is well aligned with our portfolio and we are confident the company’s management will leverage business opportunities, both independently and in cooperation with the world’s leading companies, to continue to grow rapidly,” said Danny Koller, Head of Financial Markets and International Banking at Bank Hapoalim.
To date, EarlySense has raised $100 million from investors, including tech-giant Samsung, Welch Allyn and Mitsui.
EarlySense provides contact-free, continuous monitoring solutions for the medical and consumer digital health markets. EarlySense’s patented sensor and advanced algorithms monitor and analyze cardiac, respiratory, sleep and motion parameters. Used in hospitals and healthcare facilities worldwide, EarlySense assists clinicians in early detection of patient deterioration, helping to prevent adverse events, including code blues, preventable ICU transfers, patient falls and pressure ulcers.
The myEarlySense smart home-compatible consumer solution brings hospital-proven technology to the home, providing valuable data regarding wellness and sleep. myEarlySense OEM technology is at the core of wellness and sleep products marketed by international partners including Samsung, Beurer and iFit. EarlySense was founded in 2004 and has offices in Waltham, MA and Ramat Gan, Israel.