US-based surgical software and automation technology provider Caresyntax has increased a series C round featuring corporates ProAssurances, Intel, Optum, Relyens Group and Rezayat Group to $130m.
Insurance companies ProAssurances and Reylens Group joined Harmonix, IPF Partners and funds and accounts managed by BlackRock in a $30m extension to a the round’s $100m first tranche, which was led by PFM Health Sciences and closed in April this year.
Healthcare services provider Optum and semiconductor technology producer Intel took part in the tranche through Optum Ventures and Intel Capital respectively, with Relyens, conglomerate Rezayat, Lauxera Capital Partners, Arno Capital, Vesalius Biocapital IPF Partners and Surgical.AI also investing.
Caresytax’s platform takes real-world data from in and around the operating room and uses artificial intelligence and data analytics to provide insights during surgical procedures. The funding will be used to further develop its data technology.
In December 2019, the company raised $45.6m from diversified conglomerate Mitsubishi, healthcare imaging technology producer Barco, Reylens, Plug and Play, IPF Partners, its own founders and Drug Discovery Gateway, an investment partnership between pharmaceutical company Takeda and Whiz Partners.
Surgical.AI had supplied $20m in funding for the company in 2018 to close a $31.9m round, the year after it had raised $11.9m from Norgine Ventures, the corporate venturing arm of pharmaceutical firm Norgine.
Dennis Kogan, chairman and chief executive of Caresyntax, said: “Caresyntax is helping a network of over 40,000 high-performing providers improve their bottom line by up to 60%, while improving safety and satisfaction for over 2 million patients a year.
“We are proud to welcome BlackRock and ProAssurance’s expertise in health tech and risk management. Their support will allow us to expand our open, data-driven system for value-based care in surgery.”
