US-based healthcare management technology developer InfoBionic closed a $50m financing round yesterday that included health insurance providers Blue Cross Blue Shield of Massachusetts and Blue Cross and Blue Shield of Kansas.
Eagle Investments, Excel Venture Management and Safeguard Scientifics also participated in the round. Blue Cross Blue Shield of Massachusetts took part through its Zaffre Investments unit.
Founded in 2011, InfoBionic has created a system called MoMe Kardia to monitor the condition of patients with cardiac arrhythmia.
The device is capable of supplying electrocardiogram information covering any time over a 24-hour period, as opposed to other systems which only address readings during cardiac events.
InfoBionic has now raised a total of approximately $77m in financing. Zaffre Investments, Safeguard Scientifics, Excel Venture Management and unnamed angel investors had previously supplied $8m in series B1 funding for the company in 2015.
Safeguard had led InfoBionic’s $17m series B round the year before, investing with Mass Medical Angels, Cherrystone TCA, HealthTech Capital, Boynton Angels, Tie Angels, Broadview Ventures, Beta Fund, Boardwalk, Launchpad Venture Group and Keiretsu Forum.
Stuart Long, CEO of InfoBionic, said: “We are pleased by the completion of the company’s latest financing round which was based upon the strong market traction of our proprietary MoMe Kardia system.”
– Image courtesy of InfoBionic.