Explorer Surgical Secures $5 Million Series B Funding to Advance Interactive Digital Platform for Operating Room Efficiency

VCBeat (WeChat ID: vcbeat) has learned that medical software company ExplORer Surgical recently completed a $5 million Series B financing round. Led by Aphelion Capital, the funding will be used to continue promoting the company’s digital interactive software, ExplORer, and to enhance its functionalities.

According to Crunchbase data, the company has raised a total of $9 million across three funding rounds. In September 2016, it secured a $1 million seed round from five investors, including Wasson Enterprise and The University of Chicago Innovation Fund. In August 2017, it completed a $3 million Series A round led by Aphelion Capital.

ExplORer Surgical, founded in 2015 and headquartered in Chicago, Illinois, USA, is a medical software company dedicated to developing software for hospital operating rooms and medical device manufacturers. The company has developed a software platform called ExplORer, whose core function is to enable effective coordination and communication among medical personnel during surgical procedures through interactive digital technologies, thereby improving operational efficiency and reducing costs. Data shows that in community hospitals, the use of this software can save $10 million to $15 million in costs for every 10,000 surgeries performed.

Currently, the software is available for download via the Apple App Store and Google Play, allowing users to access it anytime, anywhere through internet-enabled devices. Regarding pricing, ExplORer Surgical primarily charges clients upfront implementation and customization fees, as well as a monthly licensing fee.

During surgery, any distraction, error, or interference on the part of medical staff can lead to delays in patient care. ExplORer customizes optimal surgical plans based on surgeons’ operational protocols and preferences, enhancing operating room management and facilitating better coordination among surgical teams. Physicians can monitor the usage of various equipment during procedures, access data in real time, and track the entire surgical process. Furthermore, the software provides services to medical device companies by collecting and managing clinical evaluation data, thereby helping them refine product functionalities.

Kris Johnson, a board member of ExplORer Surgical, stated in a press release: “The operational procedures for medical devices are often highly complex. To ensure that healthcare professionals can work safely and effectively, medical device companies need to invest substantial effort and capital in guiding physicians and healthcare personnel on how to use their products. ExplORer’s technology, which can be used for guidance and training, is an ideal tool for these companies to enhance training efficiency.”

Jennifer Fried, Co-Founder and CEO of ExplORer Surgical, stated, “Moving forward, we will continue to promote the commercialization of this software in hospitals. Additionally, we are collecting data and case studies from customer usage to further enhance the software’s functionality.”

Aphelion Capital, a venture capital firm established in 2005 and headquartered in California, USA, possesses extensive investment experience in the healthcare sector. It focuses on investing in medical technology companies to drive the development of innovative medical technologies.

(Compiled by Jiao Yanli)