EarlySense Secures $39 Million Series H Funding to Accelerate Global Rollout of Contactless Patient Monitoring Platform

VCBeat (WeChat: vcbeat) has learned from foreign media that EarlySense, the market leader in contactless monitoring solutions, announced the completion of a $39 million Series H financing round. The round was led by healthcare technology provider Hill-Rom and investment firm Wells Fargo Strategic Capital, with participation from BlueRed Capital, CE Ventures, Argo Capital Partners, Hotung Venture Capital, Pitango Venture Capital, and JK&B Venture Capital.

EarlySense, founded in 2004 with offices in Israel and Massachusetts, USA, specializes in providing next-generation patient monitoring systems for hospitals, healthcare systems, integrated delivery networks, and rehabilitation centers. The company’s product portfolio includes the EarlySense system for hospital wards and the InSight system for waiting rooms and rehabilitation centers. Leveraging machine learning, its technology generates health insights on patients, enabling healthcare providers to detect adverse events more rapidly.

The EarlySense system provides healthcare professionals with real-time vital signs information from patient rooms, while also featuring a system monitor at the nurses’ station for simultaneous monitoring of multiple patients. Similarly, the InSight system enables healthcare professionals to view patients’ real-time vital signs from display stations.

It is understood that EarlySense will use the proceeds from this round of financing to accelerate the global expansion of its market presence for contactless sensing and analytics solutions, as well as to carry out a series of promotional campaigns.

It is worth noting that this round of financing took place after EarlySense integrated its continuous, contact-free heart rate and respiratory rate sensing and analytics technology into Hill-Rom’s Centrella Smart+ Bed platform. With EarlySense’s technology, clinicians can receive alerts about potential patient deterioration events and intervene when necessary.

“Millions of hospital beds worldwide require our continuous sensing and predictive analytics,” said Avner Halperin, CEO of EarlySense. “Currently, we are seeking suitable strategic and financial partners to bring our solutions to every bedside. We are honored to partner with Hill-Rom and Wells Fargo Strategic Capital, both leaders in their respective fields and globally recognized brands with extensive expertise in patient care. This collaboration empowers us to assist healthcare professionals in treating thousands of patients. Data shows that in 2018 alone, our technology helped providers save over $100 million and played a critical role in preventing patient deaths, cardiac arrests, and falls—and this is just the beginning.”

“Hill-Rom is committed to enhancing patient safety through cutting-edge technology. Our Centrella hospital bed transforms inpatient care with advanced sensing and analytics technologies, providing clinicians with a comprehensive patient safety platform to elevate the quality of healthcare,” said John Groetelaars, CEO of Hill-Rom. “Our decision to integrate EarlySense into the Centrella platform was aimed at redefining standards of care, and we are now deepening our integration with EarlySense through a significant equity investment—a strategic move of great importance.”

Currently, EarlySense’s FDA-cleared and CE-marked solutions are used by healthcare institutions worldwide. EarlySense technology leverages big data and advanced machine learning algorithms to generate highly accurate health information, enabling clinicians to detect adverse events at an early stage. The precise combination of identification and analysis of predictive indicators allows medical teams to intervene proactively, thereby enhancing patient safety. The company’s contactless bed sensor platform improves the patient experience and provides round-the-clock intelligent monitoring for patients who previously required manual checks every few hours.

Hill-Rom is a global medical technology company founded in 1929 and headquartered in Chicago, United States. Hill-Rom’s product portfolio includes patient support systems, safe mobility and handling solutions, non-invasive therapeutic products for various acute and chronic conditions, medical equipment rental, surgical products, and information technology solutions.

Wells Fargo Strategic Capital is the primary investment and commercial division of Wells Fargo & Company, providing structured financing to small and medium-sized enterprises in the United States and Canada.

CE Ventures was established in 2015 and is headquartered in Hong Kong, primarily investing in private technology companies based in Israel and the United States.

Argo Capital Partners focuses on consumer goods and retail-centric companies, with investment stages at seed and early-stage.

Hotung Venture Capital is a venture capital firm based in Taiwan, China, dedicated to investing in companies at the startup and expansion stages and building businesses together with its portfolio companies.

Pitango Venture Capital is a venture capital firm specializing in seed, growth, and late-stage investments in the IT, life sciences, and clean technology sectors, with offices in Israel and Silicon Valley, California. The firm currently manages several venture funds, with total assets under management exceeding $1.6 billion.

JK&B Venture Capital is a venture capital firm focused on the software, IT, and social media markets, with over $1.1 billion in capital.