US-based telehealth technology provider Avizia added $6m in funding from investors including NewYork-Presbyterian Hospital on Monday to a series A round it closed at $17m.
Venture capital firm HealthQuest Capital led the tranche, which was added to $11m secured by Avizia in July this year. Blue Heron Capital led the first tranche, which included Lavrock Ventures, NextGen Venture Partners, Middleland Capital, Waterline Capital and Blu Ventures.
The equity funding was closed alongside $3m of debt financing and a $1.5m line of credit from Silicon Valley Bank.
Founded in 2013, Avizia has built a telehealth platform that adds video devices to software to help streamline consultations and follow-up treatments, also involving caregivers and family members in the process. It will use the capital to expand its engineering team.
The company claims its technology is used in 36 countries and 37 of the US’s top 100 hospital networks. NewYork-Presbyterian is already a customer but will expand its advisory role in connection with the round.
Steven J. Corwin, president and CEO of NewYork-Presbyterian, said: “This investment represents an important step forward for NewYork-Presbyterian and our digital health offerings.
“We look forward to collaborating with Avizia and bringing the next generation of healthcare technology to patients in New York and around the country.”
Avizia raised $2.3m in equity across two rounds in 2014, according to regulatory filings, and followed it with $4m in convertible note financing from investors including NextGen Angels, Blue Venture Investors and Middleland Capital in February 2015, CEO Mike Baird told DC Inno.