MADISON, Wis., June 10, 2020 /PRNewswire-PRWeb/ -- EnsoData, the company simplifying the process for analyzing the human body to accurately diagnose health conditions, today announces $9 million Series A financing led by Venture Investors and Zetta Venture Partners. Using artificial intelligence, EnsoData's technology transforms billions of waveform data points collected from sensors in medical devices and wearables into an easy-to-read report, so clinicians can make faster, more accurate diagnoses.
Waveforms are used in healthcare to diagnose, monitor, and treat patients. Heartbeats on an EKG, eye movements through an EOG, and brain waves through an EEG all output as waveform data, with over 1.5 billion waveforms run per year globally across specialties. EnsoData leads the world in reading and understanding these waveforms, starting with sleep.
"Sleep apnea is a condition that plagues nearly one billion people worldwide, and we're uniquely positioned to address this massive problem," said Chris Fernandez, CEO of EnsoData. "We know that not everyone has access to quality and affordable treatment, and have the conviction that our technology can help bridge that gap. Automating waveform data analysis saves clinicians significant time, and labs and healthcare systems significant money, so they can focus on what really matters -- the patients and what's literally keeping them up at night."
Why Start with Sleep?
People spend between one-third and one-quarter of their time on earth asleep, yet only recently did we begin to study its profound impact on our overall health and happiness. Sleep apnea is associated with increased risk for high blood pressure, heart problems, diabetes, depression, liver problems, complications with medications, surgeries, pregnancies, and issues with bed partners. It affects millions of Americans and costs the US nearly $150B per year -- yet 80 percent of patients go undiagnosed and untreated. By analyzing the waveforms found in sleep studies, EnsoData is able to accurately detect and diagnose sleep apnea and its related conditions -- at a drastically reduced cost and in substantially less time.
"We believe that EnsoData will be a game-changer for the way we diagnose and treat patients," said Mark Gorenberg, Managing Director at Zetta Venture Partners. "Sleep is just the beginning. Waveform AI may be the lowest cost, most scalable, and most widely available tool for diagnosing patients. It will seriously advance our understanding of health and the human body."
How It Works
EnsoData is the first artificial intelligence technology cleared to aid clinicians in the diagnosis of sleep disorders and sleep apnea. By analyzing billions of waveform data points, it quickly finds patterns and events for clinical diagnosis, replacing a workflow that requires hours from clinicians to manually mark reams of complex data by hand.
EnsoData partners with top clinicians, health systems, and academic medical centers to improve healthcare outcomes by streamlining data analysis with Waveform AI.
In addition to Zetta Venture Partners and Venture Investors, the round was filled out by a syndicate of institutional investors from across the country, including SleepScore Ventures, Dreamit Ventures, and Necessary Ventures. The Series A participants join Series Seed investors Colle Capital, HealthX Ventures, Sternhill Associates, as well as board of directors members Justin Mortara, PhD and Dr. Fred Robertson, MD.
The capital will be used to launch new AI products in sleep and neurology; grow the company's world-class team; expand diagnostic access and partnerships with leading sleep clinics, enterprise health systems, academic medical centers, home sleep testing providers, and integrated diagnostic testing facilities; and extend support for clinical trials that enable patient access to a new generation of effective, personalized medications and therapeutic devices.
"We've known Chris and the founders since their collegiate years and have always believed in them and the potential for AI to analyze medical waveform data," said Scott Button, Managing Director of Venture Investors. "EnsoData has all the characteristics of a disruptive, breakthrough technology. It increases access, improves outcomes and enhances patient and physician satisfaction while at the same time reducing cost. We believe its Waveform AI will help to create a new gold standard of care, and we're thrilled to be a part of this incredible journey to uncovering diagnostics hidden in waveforms -- for those suffering from sleep disorders and beyond."
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ABOUT ENSODATA
EnsoData simplifies the process for reading and analyzing the human body to quickly and accurately diagnose conditions, starting with sleep. Using artificial intelligence, EnsoData's technology analyzes billions of data points collected from sensors placed throughout the entire human body to deliver the most accurate diagnoses in an easy-to-read report for clinicians. Heartbeats on an EKG, eye movements through an EOG, and brain waves through an EEG all output as waveform data; EnsoData leads the world in reading and understanding waveforms. Learn more at ensodata.com.
SOURCE EnsoData
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