The company plans to use the new financing to expand its cardiac monitoring business line and partner with more hospitals. Revelation Partners led the financing round, according to a July 18 VitalConnect news release.
VitalConnect produces biosensors designed to be used for monitoring in an inpatient setting. The company is expecting to achieve profitability in 2024.
“This latest round of financing, at an increased valuation, signals unwavering support from our investors while providing the company the runway needed to achieve our goal of being the world’s leading provider of remote patient monitoring solutions,” VitalConnect CEO Peter Van Haur said in the release.
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