iRhythm Technologies, Inc., a San Francisco, CA-based healthcare information services company, closed a $17m Series E financing.
The round was led by Novo A/S, with participation from existing investor Norwest Venture Partners. In conjunction with the funding, Tiba Aynechi, PhD principal at Novo Ventures (US) Inc., joined the of directors.
The company intends to use the proceeds to further accelerate market growth for its ZIO Service, expand technology development and continue to establish clinical evidence supporting its flagship solution.
Led by Kevin King, president and chief executive officer, iRhythm provides ZIO Service, which enables long-term continuous monitoring using a wearable patch, combined with proprietary algorithms and reports, to detect cardiac arrhythmias. The ZIO Patch enables continuous monitoring for up to 14 days.
It has been used with almost 250,000 patients at over 800 institutions nationwide.