Fletcher Spaght Ventures, who have an extensive life science portfolio, led the round, which also saw participation from Springfield Investment Management, MVM Life Science Partners, Robert Bosch Venture Capital and Ascension Health Ventures.
Renard Charity of Fletcher Spaght Ventures, said: “We are enthusiastic about the need for and potential of the Cheetah Nicom technology as a fundamental improvement in patient care. The company is led by a strong management team and has an excellent investment syndicate of which we are pleased to be a part.”
Founded in Tel Aviv, Israel in 2001, Cheetah Medical is currently based in Tel Aviv as well as the Newton Center, Massachusetts. The company offers a entirely non-invasive means to measure key hemodynamic parameters on the basis of its proprietary bio-reactance technology.
The company manufactures and commercialises a hemodynamic management system called Cheetah Nicom, thus providing medical centres with invaluable medical information.
Chris Hutchison, President and CEO of Cheetah Medical, said: “Cheetah helps clinicians maintain appropriate hemodynamic balance in critically ill patients, avoiding the negative consequences associated with fluid overload, or inadequate perfusion. The proceeds from this round will support the expansion of our sales and marketing activities in the U.S. and internationally. We are pleased to have Fletcher Spaght as a partner in what will be an exciting future.”
Cheetah Medical previously raised $20m series B financing from investors including Health Ventures (AHV), Robert Bosch Venture Capital (RBVC), and MVM Life Science Partners (MVM).