Healthcare software dev Explorer Surgical said yesterday it closed an oversubscribed $3 million Series A financing round to support its intraoperative surgical and interventional procedure workflow management platform.
The round was led by Aphelion Capital and joined by Elliott Management, the University of Chicago, M25 Group and the Harvard Business School Angels of Chicago. As part of the financing round, Ned Scheetz, Anne Sissel, Immanuel Thangaraj and Kurt Azarbarzin will be joining the company’s board.
“Explorer Surgical has a successful track record since its formation at the University, and we are proud to support the team on behalf of the institution where it all began,” UChicago Startup Investment Program private equity investments head Joana Rupp said in prepared remarks.
“I’ve seen the traditional solutions for managing the OR fall short for years. The proliferation of new devices and tools adds additional layers of difficulty for surgical teams. As clinical protocols become more complex, it is critical to coordinate teams around best practices. Explorer has developed an elegant, tech-enabled platform with broad applicability. We are pleased to support their mission to improve quality and efficiency of the OR and interventional suites,” Aphelion Capital managing partner Ned Scheetz said in a prepared statement.
“Key stakeholders, including hospitals and medical device companies, are facing increasing pressures to reduce cost and improve the quality of care. Explorer provides the leading platform and analytics solution to address these challenges and improve the efficiency, management and workflow of the OR,” Baxter ventures VP Anne Sissel said in a press release.
Explorer is developing a software-as-a-service tool which allows user to manage, track and analyze intra-operative activity and information for the operating room and interventional suites.
“For decades, the critical processes of surgery have been mapped out and managed on paper, and we are ready to change the game with our digital, real-time platform and analytics solution. The investor syndicate and board of directors have an impressive track record in building medical technology companies that will be instrumental to our growth strategy. We are thrilled to have continued support from those who have successfully innovated in the surgical space for decades,” CEO Jennifer Fried said in a prepared release.