Life science information technology company ArborMetrix hopes its $7 million Series B financing round well help it ramp up expand in pace with "surging demand" for its clinical performance metric systems.
The most recent funding round was led by RPM Ventures and supported by existing investor Arboretum Ventures as well as by the Wolverine Venture Fund.
The early-stage Ann Arbor, Mich.-based company sells a cloud-based tool that measures clinical outcomes and performance. The company touts the product as a cost-cutting tool for healthcare providers.
"ArborMetrix has been experiencing exponential growth and closing this round of funding will allow us to continue to build momentum by expanding our footprint and enhancing our industry-leading solution," CEO Brett Furst said in prepared remarks.