US-based iRhythm Technologies, a healthcare information company which carries out long-term cardiac monitoring, received further backing in this round from Norwest Venture Partners, which led iRhythm’s $17m series E financing.
The new funding will be used to further accelerate market growth for iRhythm’s ZIO arrhythmia-detection service, to expand technology development and to continue to establish clinical evidence to support its flagship product.
Kevin King, chief executive officer of iRhythm, said: “We are pleased to have Novo A/S as a new investor, and with this funding we are poised to further accelerate our company’s growth.”
Tiba Aynechi, principal at Novo, has joined iRhythm’s board of directors in conjunction with the funding.
The total funding raised by iRhythm since it was formed stands at about $110m. Past investors also including New Leaf Ventures, Synergy Life Science Partners, California HealthCare Foundation and Kaiser Permanente Ventures, the corporate venture capital unit for healthcare company Kasier Permanente.