On the heels of Madison-based EnsoData announcing the completion of a $20 million Series A funding round, the company has also announced a noteworthy leadership change.
Justin Mortara, the company’s executive chairman and an investor in the business, has also been named president. Mortara is also the co-founder of Milwaukee-based Rose Biosciences, a tech-focused bio startup, and principal at Mortara Group, LLC. He also spent over 20 years at Mortara Instrument, a provider of diagnostics for cardiovascular disease, as CEO. In February 2017, Mortara Instrument was acquiredby Chicago-based Hill-Rom Holdings Inc. for $330 million.
In his new role as president, Mortara will support EnsoData's vision by preparing the company for scale in its next stage of growth. This includes expanding EnsoData's team, advancing its commercial strategy and identifying new strategic opportunities. Prior to this role, Mortara also managed a portfolio of early-stage health care investments spanning devices, tech-enabled services and life sciences.
“As both a scientist and investor, I’ve reviewed a multitude of AI solutions in health care,” Mortara said. “The EnsoData team has created a truly unique platform in sleep that stands apart. With great initial customer traction and further AI-powered solutions under development, the time was right for me to assume a more active role and lend a hand in this exciting next chapter of growth.”
EnsoData says its 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 health care outcomes by streamlining data analysis with waveform artificial intelligence.
The company’s latest funding round was led by Inspire Medical Systems, Inc. of Golden Valley, Minnesota. Existing investors including Zetta Venture Partners, Venture Investors, Supermoon Capital, Colle Capital, HealthX Ventures, M25 Ventures and Mortara also took part in the funding round.
EnsoData has experienced continued growth over the past year, driven by demand from customers seeking to enable faster and more accurate diagnoses and improve patient outcomes in the communities they serve.
In the past year, EnsoData received its second FDA clearance, doubled its team in size, expanded partnerships with leading providers worldwide, and extended further support for virtual and at-home diagnostics.
With this new funding, EnsoData will rapidly scale multinational expansion and commercial distribution partnerships, continue building out its team, and expand its product offerings.
“Our proven, clinically validated technology has generated real demand and traction and as we continue to scale our team and growth,” said Chris Fernandez, CEO and co-founder of EnsoData. “With this confluence of new funding, new partnerships, and the addition of industry veterans like Justin to our team, we’re even better positioned today to continue our upward trajectory and to successfully navigate the evolving state of health care.”