Intelligent Retinal Imaging Systems, Inc. (IRIS), a Penascola, FL-based developer of early detection systems for diabetic eye disease, closed a round of Series B financing.
The amount of the deal was not disclosed.
The round was led by Ballast Point Ventures, with participation from Providence Ventures and CoxHealth, a current IRIS customer. In conjunction with the funding, Matt Rice from Ballast Point Ventures and Jeff Stolte from Providence Ventures will join the IRIS Board of Directors, and Dr. C. Mark Costley, M.D. of CoxHealth will serve as Chair of IRIS’s newly established Clinical Advisory Board.
The company intends to use the funds for business expansion and growth.
Founded in 2011 by retina surgeon Dr. Sunil Gupta, Chief Medical Officer, and Jason Crawford, CEO, IRIS develops products that detect eye disease and improve the monitoring and care of patients in diabetic populations. Its retinal telemedicine platform, in place at 94 health systems across 28 states, was developed to help end preventable, permanent blindness caused by diabetic retinopathy through early diagnosis.