California’s PALO ALTO, July 22, 2022 – Surgical Intelligence’s developer, Theator, revealed that it has raised USD 24M in addition to its Series A fundraising round. The first USD 15.5M Series A round, announced in February 2021, was followed by this extension, increasing the round’s total to USD 39.5M.
With the assistance of previous investors Blumberg Capital, Mayo Clinic, NFX, StageOne Ventures, iAngels, and former Netflix Chief Product Officer Neil Hunt, the extended investment round was again spearheaded by Insight Partners. Ariel Cohen, the CEO and co-founder of TripActions, and other new growth investors, including iCON, also invested in the round.
The additional financing will be utilized to expedite the deployment of Theator’s Surgical Intelligence Platform in operating rooms and healthcare systems across North America and to continue the company’s commercial expansion. The series extension comes after the show gained much commercial traction, notably earlier this year when Theator expanded into urology.
Dr. Tamir Wolf, CEO, and Co-founder of Theator:
“This funding shows a lot of faith in our mission, our team, and surgical intelligence as the foundation of the future of surgery. Surgeries’ quality and safety have significantly improved thanks to surgical intelligence. The impact our partners and collaborators have already had is inspiring. We look forward to how this newest investment will advance our objective to modernize surgery and reduce unpredictability and disparity in surgical treatment worldwide.”
Brad Fiedler, VP at Insight Partners:
“Theator’s invention has demonstrated to be a crucial improvement in surgical technology. AI and computer vision integration in operating rooms enhances surgical care and improves surgery. We’re eager to increase our commitment, especially given that Theator’s proficiency in AI and computer vision is improving patient outcomes across a constantly expanding range of business partners.”
More about the startup:
Theator is leading the revolution in surgical intelligence by utilizing cutting-edge AI and computer vision technologies to produce actionable insights that raise the standard of surgical care.
Surgical Intelligence derives never-before-seen insights from assisting surgeons and hospital systems in understanding the causes of variability in patient outcomes and reducing it in the future while reducing costs and streamlining procedures in the or by making routine video capture and analysis of the standard of care in surgery.
To develop a more intelligent, transparent operating room, Theator collaborates with renowned surgeons, hospitals, professional groups, and research organizations. The Palo Alto, California-based business is helping to build a better, healthier world by paving the way for real-time surgical decision support.
Theator has now raised USD 42.5M overall with the addition of its Series A round. Theator has worked with Mayo Clinic and partnered with the Canadian Association of General Surgeons (CAGS) since its initial Series A financing last year, bringing further prominence to the growing roster of cutting-edge medical institutions and surgical societies using Surgical Intelligence.
The business was included on CB Insights’ distinguished list of the 150 most creative digital health businesses in the world in December of last year, marking the first time the industry had recognized Surgical Intelligence as a separate category.
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