EnsoData Raises $9M Series A Financing to Empower Clinicians with Waveform AI
EnsoData (Healthtech - Spring 2019) has a platform that transforms billions of waveform data points collected from sensors in medical devices and wearables into an easy-to-read report, so clinicians can make faster, more accurate diagnoses.
Last week, the company announced a $9 million Series A financing round led by Venture Investors and Zetta Venture Partners. The round was filled out by a syndicate of institutional investors from across the country, including Dreamit Ventures, SleepScore Ventures, and Necessary Ventures. The Series A participants join Series Seed investors Colle Capital, HealthX Ventures, Sternhill Associates, as well as board of directors members Justin Mortara, Ph.D. and Dr. Fred Robertson, M.D.
We’re thrilled to announce our official launch and Series A funding! This new chapter for @EnsoData marks another step toward our goal of creating a world in which every patient has access to quality & affordable treatment. Learn more in @crunchbasenews: https://t.co/SSeO3MJNb8.
— EnsoData (@EnsoData) June 10, 2020
EnsoData will use the capital to launch new AI products in sleep and neurology; grow the company’s world-class team; expand diagnostic access and partnerships with leading sleep clinics, enterprise health systems, academic medical centers, home sleep testing providers, and integrated diagnostic testing facilities; and extend support for clinical trials that enable patient access to a new generation of effective, personalized medications and therapeutic devices.
Market Context
Waveforms are used in healthcare to diagnose, monitor, and treat patients. Heartbeats on an EKG, eye movements through an EOG, and brain waves through an EEG all output as waveform data, with over 1.5 billion waveforms run per year globally across specialties. EnsoData leads the world in reading and understanding these waveforms, starting with sleep. “Sleep apnea is a condition that plagues nearly one billion people worldwide, and we’re uniquely positioned to address this massive problem,” said Chris Fernandez, CEO of EnsoData.
People spend between one-third and one-quarter of their time on earth asleep, yet only recently did we begin to study its profound impact on our overall health and happiness. Sleep apnea is associated with increased risk for high blood pressure, heart problems, diabetes, depression, liver problems, complications with medications, surgeries, pregnancies, and issues with bed partners. It affects millions of Americans and costs the US nearly $150B per year -- yet 80 percent of patients go undiagnosed and untreated. By analyzing the waveforms found in sleep studies, EnsoData is able to accurately detect and diagnose sleep apnea and its related conditions -- at a drastically reduced cost and in substantially less time.
Technology and Benefits to Clinicians/Researchers
EnsoData is the first artificial intelligence technology cleared to aid clinicians in the diagnosis of sleep disorders and sleep apnea. Their flagship product, EnsoSleep, empowers clinicians with automated AI scoring and analysis. By analyzing billions of waveform data points, it quickly finds patterns and events for clinical diagnosis, replacing a workflow that requires hours from clinicians to manually mark reams of complex data by hand.
EnsoData partners with top clinicians, health systems, and academic medical centers to improve healthcare outcomes by streamlining data analysis with Waveform AI. Over 300 U.S. sleep centers use the EnsoSleep platform, which analyzes a combined 14,000 sleep studies per month and reduces time to score studies by about 75%.
Chris Fernandez, CEO of EnsoData, comments, “Automating waveform data analysis saves clinicians significant time, and labs and healthcare systems significant money, so they can focus on what really matters -- the patients and what’s literally keeping them up at night.”
About EnsoData
EnsoData simplifies the process for reading and analyzing the human body to quickly and accurately diagnose conditions, starting with sleep. Using artificial intelligence, EnsoData’s technology analyzes billions of data points collected from sensors placed throughout the entire human body to deliver the most accurate diagnoses in an easy-to-read report for clinicians. Heartbeats on an EKG, eye movements through an EOG, and brain waves through an EEG all output as waveform data; EnsoData leads the world in reading and understanding waveforms. Learn more at ensodata.com.
By Elliot Levy, Healthtech Associate at Dreamit Ventures
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