Gauss Surgical, the US-based developer of a platform that monitors blood loss during surgery, closed a $12.6m series B round on Wednesday led by healthcare system Providence Health & Services’ investment arm, Providence Ventures.
The round also featured Summation Health Ventures, a venture capital fund formed by healthcare providers MemorialCare Health System and Cedars-Sinai Health System, as well as Promus Ventures, LifeForce Ventures, Jump Capital and Stanford University’s StartX Fund.
Founded in 2011, Gauss has developed technology named Triton that processes scans of surgical sponges and blood-bearing canisters taken during procedures, using an iPad and cloud-based algorithms to determine the amount of blood loss during surgery in real-time.
Daniel Galles, partner at Providence Ventures, and Mike Collett, founder and managing partner at Promus Ventures, will join Gauss’ board of directors. Garrett Vygantas, partner at Jump Capital, will join as board observer.
Gauss has now secured $24.6m in total funding, according to its latest press release. Summation participated in a $12m series A round in August 2015 that was led by Promus and backed by LifeForce Ventures.
Regulatory filings show that Gauss raised $3.1m in 2013 and an additional $1.5m in 2014, but it appears the company considered that funding part of its series A round. Its other backers include Taube Investment Partners and assorted angel investors.