Remote monitoring startup iRhythm touted a new $17 million Series E funding round in support of its wearable devices, saying it plans to pursue efforts in commercialization, marketing and clinical studies.
The San Francisco company offers continuous cardiac monitoring with its FDA-cleared Zio wearable device and accompanying software. The system is designed to log data on patients’ heart rhythms, then process and analyze the data to kick out a report for physicians.
iRhythm’s latest funding was led by Novo A/S and joined by Norwest Venture Partners, which led last year’s funding. Novo principal Tiba Aynechi also joined
"With its disruptive yet proven technology, iRhythm has established itself as the global leader in long-term continuous cardiac monitoring, with the potential to improve diagnosis for the millions of patients each year who present with suspected arrhythmia," Aynechi said in prepared remarks. "We believe the company, with its vast technology capabilities, is poised to create the world’s largest and highest quality cardiac rhythm data sets to further revolutionize patient care."
With the new funds in hand, iRhythm plans to "further accelerate market growth for its Zio Service, expand technology development and continue to establish clinical evidence supporting its flagship solution," the company said.