Business
The tool embeds in the EHR and allows providers to write care workflows that deliver best practices and next steps.
The company will use the investment to expand its technology's current abilities, add capabilities to detect additional health conditions and drive global growth.
Earlier this year, the company received FDA clearance for its RPM system that collects data like skin temperature, auscultation and heart rate in the home.
Though funding has fallen this year, Dr. Sunny Kumar, partner at GSR Ventures, said there are still opportunities for startups that can prove their value.
The startup has set up a subsidiary in New York using the proceeds from its first Series C round.
The company said it will use the capital to hire for its commercial teams and advance development on new features.
The company said it needed to restructure following "a period of rapid growth and hiring."
Medical waste-management firm Stericycle sold the business to Carenet for approximately $45 million in cash.
Patient engagement platform Ostro scooped up $45 million, and Cloud Health Systems, a new startup from Instacart cofounder Apoorva Mehta, reportedly raised $30 million.
A GSR Ventures survey of 50 investors reveals return on investment and clinical validation would be vital to a company's success next year.