The Venture Codex

Participated · Equity · Dec 2019

Caresyntax offers a vendor-neutral precision surgery platform led by CEO Dennis Kogan. Its proprietary software and AI captures and analyzes large volumes of video, audio, images, device, clinical and operational data in and around the operating room to deliver actionable insights, meta-data and real-world evidence. The software and automation platform can be used live during procedures and accessed by users outside the OR via secured dedicated cloud and telehealth links. The platform aims to help surgeons and care teams improve patient outcomes, enable hospital administrators to use resources more efficiently, assist medical device companies to advance products, and support insurers in understanding and controlling risks and enabling value-based contracts. Caresyntax serves over 30,000 surgical professionals across more than 3,000 operating rooms worldwide. The company raised $180M in Series C financing and intends to use the funds to expand operations and its development efforts. Caresyntax provides a digital surgery platform that uses proprietary software and artificial intelligence to analyze large volumes of video, audio, images, device, clinical, and operational data in and around the operating room. The platform delivers actionable insights for care teams and longer-term analytics for stakeholders such as surgeons, and offers virtual, real-time access to outside experts. Caresyntax's software is used in more than 4,000 operating rooms worldwide and supports surgical teams in over two million procedures per year. The company plans to use new funds to continue developing its platform and to advance new data solutions that support value-based care providers. The product emphasis is on improving patient outcomes through immediate and longer-term insights derived from real-world OR data. The company was founded by Dennis Kogan and Björn von Siemens. Caresyntax provides an enterprise-grade digital surgery platform that uses proprietary software and AI to analyze large volumes of video, audio, images, device, clinical, and operational data in and around the operating room. Its platform delivers real-world evidence that care teams can use live during procedures via a telehealth link and post-procedure for benchmarking and improvement. Hospitals can use the platform to manage surgical resources more efficiently, medical device companies can advance products, and insurers can better understand risk. The software is used in more than 4,000 operating rooms worldwide and supports surgical teams in over two million procedures per year. The company announced the acquisition of Syus at the close of 2019, extending its hospital footprint and analytics capabilities. Caresyntax intends to use the new funding to accelerate expansion in key markets, further R&D of its AI analytics, build out its platforms, and grow its employee base. caresyntax provides surgical intelligence and automation solutions that leverage IoT, analytics and AI to integrate data from medical devices, EHRs and other OR sources into a unified platform. Its offerings automate clinical and operational decision support for surgical teams and support outcome contributors across risk-bearing contracts. The company says its technologies are used in more than 7,000 operating rooms worldwide and support over 10 million procedures per year. Recent partnerships with organizations including Mitsubishi’s MC Healthcare, Barco Healthcare, Insel Gruppe AG and University of Wisconsin–Madison aim to expand R&D and global reach. caresyntax plans to use new capital to accelerate domestic and international growth and to further develop and deploy its surgical intelligence and automation technologies. The company works with providers, insurers and device vendors to inform device improvements, support data-driven underwriting and enable value-based contracting. Caresyntax provides a vendor-neutral platform that aggregates structured and unstructured data from operating room devices, electronic health records and other sources into unified dashboards for surgeons and hospital decision makers. Its offerings include PRIME365 OR integration and qvident surgical performance management software, which aim to reduce documentation time, automate workflows, and generate quality data for training and decision support. The company emphasizes granular analysis of surgical variation to recommend fixes that reduce readmissions, improve patient safety and streamline clinical workflows. Caresyntax reports an installed base of more than 6,000 operating rooms, supports over 10 million procedures per year and generates roughly 100 petabytes of high-fidelity data annually. It was launched in 2013 in Germany and established full-time North American operations and a headquarters in Boston in October. The company says it will use the new financing to grow its U.S. business and to develop machine learning and value-added applications for surgical risk management.

Led · Series C · Sep 2018

WHILL designs and sells high-tech personal mobility devices intended for both indoor and outdoor use. The company’s products include the less expensive Model Ci (called Model C in Europe and Japan) and compete with devices like iBot and Trackchair. WHILL is developing autonomous capabilities and building its own sensors and cameras to support a “mobility as a service” program that lets users summon and control vehicles via a mobile app. Key near-term plans include expanding into the EU (opening a branch and entering 10 new European countries) and deploying systems in large venues such as airports, shopping malls, and sports arenas. WHILL has tested an autonomous airport program in partnership with Panasonic and plans to pursue distribution partnerships with U.S. airlines and airports. In Japan the company has between 4,000 and 5,000 resellers, its devices are subsidized and available for rent, while U.S. customers often buy devices out-of-pocket. Whill produces high-tech motorized wheelchairs, notably the Model M and Model A. Its products use a patented wheel that enables tight turns on rough terrain and sloping surfaces. The company recently received FDA approval for the Model M, allowing it to be marketed as a medical device in the U.S. and enabling doctors to write prescriptions starting this summer. Whill plans to use Series B proceeds to market its devices in the U.S. and to enter the European market, and it launched an airport rental program last month. It is developing technologies for autonomous driving and remote management of its devices to differentiate from competitors. Founded four years ago in Tokyo and now headquartered in San Francisco, Whill has raised $30.2 million in venture funding to date. Whill makes personal mobility devices designed for indoor use and all-terrain outdoor travel, featuring All Direction 4WD and an advanced acceleration management system for full-range speed adjustment. The product line was founded and designed by former Toyota and Nissan industry experts and engineers and is led by CEO Satoshi Sugie. Whill plans to use recent funding to manufacture and expand distribution of its devices and to grow overall operations. The company has won recognition, including the TechCrunch Tokyo 2012 Grand Prize. Financially, Whill closed an $11M Series A to support its manufacturing and distribution expansion. Whill develops the WHILL, a next-generation electric personal mobility vehicle intended for sidewalks and for healthy users as well as mildly disabled or elderly people with difficulty walking. The company is based in Menlo Park, California and was founded in May 2012; it is led by CEO Satoshi Sugie. Whill received funding to continue development and production of its WHILL vehicle. The company plans an initial direct sale of 50 units to the US market, followed by sequential expansion into other countries including Japan. Backers named in the article include SunBridge Global Ventures (via SunBridge Startups), Itochu Technology Ventures, 500 Startups and WIngle Co., Ltd. The article did not disclose financial terms, revenue, or instrument types.