Digital surgery platform developer Caresyntax announced today that it added a $30 million extension to its Series C funding round.
Boston-based Caresyntax’s $30 million extension brings its total Series C funding to $130 million, adding to the first stage announced in April 2021, according to a news release.
PFM Health Sciences led the extension, with selected investors including funds and accounts managed by BlackRock, as well as ProAssurance, Harmonix and existing investors such as the Relyens Group and IPF Partners. The overall Series C features investments from Optum Ventures, Intel Capital, Lauxera Capital Partners, Vesalius Biocapital III, Arno Capital, Rezayat Investments, and Surgical.AI.
Caresyntax said the funding will be used to continue developing its digital surgery platform, which uses proprietary software and AI to analyze large volumes of real-world data in and around the operating room to offer insights for immediate use by the care team and for long-term use by surgeons to assess and improve care.
Additionally, the funds raised in the Series C are earmarked for the advancement of new data solutions that support value-based care providers, Caresyntax said.
“Caresyntax is helping a network of over 40,000 high-performing providers improve their bottom line by up to 60 percent, while improving safety and satisfaction for over 2 million patients a year,” Caresyntax co-founder, chairman & CEO Dennis Kogan said in the release. “We are proud to welcome BlackRock and ProAssurance’s expertise in health tech and risk management; their support will allow us to expand our open, data-driven system for value-based care in surgery.”