Madison-based EnsoData has raised $9 million in a series A financing round led by Venture Investors and Zetta Venture Partners, the company announced Wednesday.
EnsoData is the first AI technology cleared to aid clinicians in the diagnosis of sleep disorders and sleep apnea. The startup works primarily with clinicians, health systems and academic medical centers to improve healthcare outcomes by streamlining data analysis with waveform artificial intelligence.
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 all specialties.
Using AI, EnsoData’s technology transforms waveform data points collected from sensors in medical devices and wearables into a report, so clinicians can make fast and accurate diagnoses.
By analyzing billions of waveform data points, it quickly finds patterns and events for clinical diagnosis, replacing a workflow that requires clinicians to manually mark reams of complex data by hand, which takes hours.
“We believe that EnsoData will be a game-changer for the way we diagnose and treat patients,” wsaid 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.”
EnsoData will use raised funds to launch new AI products in sleep and neurology, grow the company’s team and expand diagnostic access and partnerships with leading sleep clinics, enterprise health systems, academic medical centers, home sleep testing providers and integrated diagnostic testing facilities.
Additional investors involved with series a financing include Colle Capital, HealthX Ventures, Sternhill Associates as well as board of directors’ members Justin Mortara, PhD and Dr. Fred Robertson, MD. Mortara was also recently named EnsoData’s executive chairman, according to his Linkedin profile.
Before joining EnsoData, Mortara was chief executive officer of Mortara Instrument, an inventor and manufacturer of medical devices for diagnostic cardiology and patient monitoring.
In 2017, Hill-Rom Holdings acquired Mortara Instrument for $330 million. Mortara has since served in a variety of roles including president of Mortara Instrument within Hill-Rom, principal at his venture capital and private equity firm Mortara Group, LLC and as a member of Venture Investors’ investment advisory committee.
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