EnsoData, a Madison, WI-based healthcare artificial intelligence company, raised $1.5m in seed funding.
The round, which, together with investments from two current EnsoSleep customers, brings total funding to more than $2m to date, was led by Colle Capital with participation from HealthX Ventures, Sternhill Associates, Wisconsin Investment Partners and M25 Group and investors from NYC, LA, Boston, Madison, Chicago, and Austin. In conjunction with the funding, Victoria Grace and Ziad Sultan of Colle Capital, will join the EnsoData’s board of directors.
The company will use the funds for working capital, R&D, and more than double the size of its engineering and sales teams.
Founded in 2015 by Chris Fernandez, CEO, EnsoData provides artificial intelligence based software-as-a-service that automates data analysis for frontline clinicians. The first product, EnsoSleep, received FDA clearance in April 2017 to automate scoring of in-lab and home sleep studies and aid clinicians in the diagnosis of sleep disorders like sleep apnea.
Since then, clinicians from more than 50 customer sleep clinics have already started using EnsoSleep to analyze their sleep studies.