Medical technology company Avail Medsystems, which develops telemedicine software for the procedure room, raised $100 million in Series B funding.
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D1 Capital Partners led the round with participation from 8VC and existing investors. The new funding gives the Palo Alto-based company a total of $125 million in funding since it was started in 2018. This includes a $25 million in Series A and Series A-1 funding, according to Crunchbase data.
Avail touts having “the only end-to-end system that helps surgical teams in operating rooms collaborate with remote medical experts for live procedures and clinical training.”
Previously, case collaboration depended on in-person communication, which was costly, time-consuming and risky in terms of increasing the possibility of infection, Daniel Hawkins, Avail Medsystems CEO, said in a written statement.
“Our purpose-built technology removes these barriers, enabling medical collaboration, information sharing and training independent of location,” he added. “While our journey began long before COVID-19, the pandemic has shone a spotlight on these issues and accelerated the need for remote presence in the operating room.”
The new funding will be used to add more medical experts to its network, add new clinical specialties and further penetrate current areas, as well as work on product development.
Illustration: Dom Guzman