Seattle based Remote Patient Monitoring Platform Optimize.health raised US$ 15.6M in its Series A funding round.
The funding round was led by U.S. Venture Partners. Other participating new investors include Foundry Group, Daher Capital and Openview Venture Partners and existing investors Bonfire Ventures and SOSV. Optimize.health had raised US$ 3.5M in its seed round.
COVID-19 concerns have created a significant demand for remote monitoring. This funding round will help the company to increase its operations and tap the market efficiently. The funds will be utilized to expand its product and engineering teams, add new features and upgrading the user experience for physicians and patients. It will also be used for sales and marketing operations. Optimize.Health has seen a year-over-year revenue growth by around 800% and has expanded its network of health providers as well.
“Challenging times can serve as a catalyst for innovation, and the COVID-19 pandemic has underscored the vital role that digital health platforms can play to help patients stay healthy,” said Jeff LeBrun, co-founder and CEO of optimize.health.
About Optimize.health
Optimize.health was founded in 2015 by Jeff LeBrun and Chuks Onwuneme, who are experienced digital health entrepreneurs. Optimize.health enables access to care, health monitoring and low healthcare costs. Healthcare providers can offer patient-centric and reimbursable remote monitoring. The platform uses a combination of high-quality monitoring devices and a user-friendly HIPAA-compliant digital platform which supports two-way video calls and text conversations between patients and doctors.
Patients can easily view their health data from the comfort of their house with easy-to-use devices to monitor their vital signs like blood glucose, weight, pulse oximetry, blood pressure and medication adherence. The doctor can then identify symptom progression, if any and advice for interventions accordingly.
“This is an unprecedented opportunity to implement lasting change in the way healthcare is delivered, and we’re delighted to have strong backing from investors that share our vision for a more accessible, more convenient and more cost-effective healthcare system,” said CEO Jeff LeBrun.
