CloudCath closes $12M for catheter-based treatment monitoring platform
CloudCath, the maker of a remote monitoring platform for catheter-based treatments, has closed a $12 million Series A financing round. Capital Integral headlined the raise, which also saw investments from FundRx, The Capital Partnership, Coconut Tree Investments, Stanford University’s StartX Fund and other unnamed strategic and individual investors.
WHAT THEY DO
CloudCath’s initial product is a connected device and monitoring software designed for end stage renal disease patients receiving peritoneal dialysis in their homes. Placed around the bloodline tubes of a dialysis system by the patient, the device analyzes drainage fluid and, using proprietary algorithms, detects deviations in fluid property.
The device transmits notifications of such complications to the patient’s provider using a built-in LTE module. These alerts are surfaced on a patient management portal employed by their provider.
“End-stage renal disease, one of the costliest chronic diseases in the U.S., is devastating to patients,” Aly ElBadry, CEO and cofounder of CloudCath, said in a statement. “The CloudCath technology enables patients and caregivers to easily monitor fluid parameters for early signs of complications, including infection, in real time, allowing dialysis providers to intervene much earlier than the existing standard of care.”
WHAT IT’S FOR
The startup said in its announcement that its raise will support commercialization of its first product, as well as the development of more applications built on their remote monitoring tech.
“This funding will speed commercialization of the CloudCath system, pending FDA clearance, and will also support our goal of offering remote monitoring for infectious disease management in multiple additional applications,” ElBadry said. “We are looking forward to enabling better patient care and to playing an integral part of the big data revolution in infectious disease healthcare management.”
MARKET SNAPSHOT
CloudCath strategy is to target a niche within the fairly competitive field of remote monitoring technologies.
Here, Current Health has been making some noise with a recent funding round and a shift toward integrating other vitals monitoring tools. Other recent headlines among monitoring tech makers include a 510(k) clearance for Biobeat’s cuffless blood pressure, oxygenation and heart rate monitor; another clearance for Spry Health’s COPD wearable; and raises for G Medical Innovations and Bardy Diagnostics.
