Propeller Health, a Madison, WI-based digital health solution for chronic respiratory disease, raised $14.5m in Series B financing.
The round was led by Safeguard Scientifics (NYSE: SFE) with participation from existing investor The Social+Capital Partnership. In conjunction with the funding, Gary J. Kurtzman, M.D., Managing Director, Healthcare at Safeguard, will be joining Propeller Health’s board of directors.
The company intends to use the funds to accelerate product development, strategic alliances, client services, sales and marketing.
Led by CEO and co-founder David Van Sickle and newly added Chief Operating Officer Chris Hogg, Propeller is a digital therapeutic designed to help patients and their physicians understand and control COPD, asthma and other respiratory disease, reducing preventable emergency room visits, hospitalizations and unnecessary suffering. With a combination of sensors, mobile apps, analytics and personalized feedback, the system encourages adherence to maintenance therapy and remotely monitors use of rescue medications to predict exacerbations and facilitate early intervention by care teams.
In the last year, the company doubled its number of commercial programs and added its first contract with an accountable care organization. It recently received FDA clearance for a new inhaler sensor and is concluding a 500-person randomized control trial at Dignity Health.
Propeller Health also released a version of the app for people with COPD and major updates to its physician dashboards, adherence programs and predictive algorithms.
The company is recruiting engineering, product, user experience design, data and other people (http://www.propellerhealth.com/careers).