Lowell, MA (PRWEB) November 19, 2014
InfoBionic, Inc., an emerging digital health company focused on creating superior patient monitoring solutions for chronic disease management, today announced that it closed its $17 million Series B financing round, adding new investors Excel Venture Management and Zaffre Investments. In addition, InfoBionic named Steven R. Wasserman as Chief Financial Officer and William G. Swavely as Senior Vice President, IT.
Closed Series B Financing
In November 2014, InfoBionic completed the second tranche of a $17 million Series B financing, closing the round. New investors include Excel Venture Management and Zaffre Investments. These new investors join Safeguard Scientifics, Inc. (NYSE:SFE), Mass Medical Angels (MA2), Broadview Ventures, The Indus Entrepreneurs (TiE), Beta Fund, Launchpad Venture Group, Cherrystone, TCA, HTC, Boynton, and Keiretsu. Proceeds from the financing will enable InfoBionic to commercialize its MoMeTM System, a remote patient monitoring platform for cardiac arrhythmia detection, in Europe and the United States.
“We are pleased to add Excel Venture Management, a knowledgeable healthcare technology investor, and Zaffre Investments, a subsidiary of Blue Cross Blue Shield of Massachusetts, to our investor group,” said Nancy Briefs, President, CEO and Co-Founder of InfoBionic. “Our investors collectively share our vision of improving patient monitoring, diagnosis and treatment. This funding is critical to commercializing our MoMe System and building out our proprietary platform.”
“We think that software plays a significant role in improving healthcare and ultimately saving lives,” said Caleb Winder, Managing Director at Excel Venture Management, who has joined InfoBionic’s board of directors. “InfoBionic’s cloud-based MoMe platform is a radical leap forward in improving cardiac monitoring, making it easier for patients to be diagnosed, leading to better care and reduced costs.”