Sibel Health, a Niles, IL-based medical technology company spun out of the John Rogers Research Group and the Querrey Simpson Institute for Bioelectronics at Northwestern University, closed a $33m Series B financing round.
The round, which brought total funding to date to more than $50m, was led by the Steele Foundation for Hope.
The company intends to use the funds to scale up its FDA-cleared ANNE® One platform for global deployments across the entire continuum of care from the home to the hospital.
Led by Steve Xu, MD, CEO and co-founder, Sibel Health is a digital health company whose FDA-cleared ANNE® platform includes advanced wearable sensors, AI-enabled data analytics, and an integrated mobile software and cloud platform. Partnerships include some of the most respected healthcare organizations worldwide. The company, which also has offices in Seoul (South Korea) and San Diego, has seen a significant increase in revenue since 2020. This has been driven by partnerships with leading Fortune 500 companies and funding support from the U.S. military, the National Institutes of Health, and the Bill & Melinda Gates Foundation.
In addition to the funding, Sibel has announced two new executive appointments. Jon Otterstatter, the former CEO and co-founder of Preventice (acquired by Boston Scientific in 2021), will join as chairman of the board. Matthew Banet, PhD, a world expert in advanced body-worn sensors and previously the CTO and cofounder of toSense and Sotera, joins as president from Baxter International.