New York, NY – March 16, 2023 – Peerbridge Health announced today that it raised $10 million in a funding round led by Mendota Venture Capital and HealthX Ventures.
The funding will accelerate the development and deployment of Peerbridge Health’s advanced AI-driven remote diagnostic platform, which leverages the power of ECG to predict and diagnose the most prevalent chronic illnesses affecting people today. With heart disease responsible for one in every four deaths in the US and more than half of Americans suffering from a chronic illness like heart failure, obstructive sleep apnea, or diabetes, the timing is right for a simpler, faster, and cheaper solution to address these health challenges in a more meaningful way.
“We are excited to partner with Peerbridge Health as they build an innovative remote patient diagnostics platform using advanced AI combined with ECG,” said Nick Jackson, Principal at Mendota Venture Capital. “Their technology will improve quality of care while also reducing costs, and we are thrilled to support their efforts to bring it to more patients and providers.”
Peerbridge’s patented 3-lead, 2-channel wireless AECG patch – the Peerbridge CorTM – is the only device designed on Einthoven’s Triangle, mirroring traditional 12-lead Holter placement. By combining the Cor’s superior recording fidelity, P-wave definition, and QRS morphology with AI technology and proprietary algorithms, Peerbridge Health will help physicians identify potential and current health issues before they become acute, enabling earlier interventions and better outcomes for patients.
“Peerbridge Health’s innovative approach to remote patient diagnostics has the potential to revolutionize remote healthcare,” said Mark Bakken, Founder and Managing Partner at HealthX Ventures. “With billions spent each year in failed healthcare treatments and hospital readmissions, the industry is primed for a game-changing solution that can provide access to accurate, meaningful health data more quickly and at lower costs. We look forward to supporting Peerbridge Health in this endeavor as it continues to grow and expand its impact.”
“We are grateful for Mendota Venture Capital and HealthX Ventures’ support in the next stage of our journey to transform remote healthcare,” said Chris Darland, CEO of Peerbridge Health. “Their expertise and collaboration will help us rapidly expand our platform and bring our technology to more patients so they can live longer, healthier lives.”
About Peerbridge Health
At Peebridge Health™, we believe the heart has an important story to tell about our total health – one that goes beyond the limits of what is currently thought possible. We are transforming remote healthcare with an advanced AI-driven ECG platform that predicts and diagnoses the top chronic illnesses affecting people today. We combine innovative wearable AECG technology with superior recording fidelity and proprietary algorithms to capture a wide range of vital health diagnostics, making it simpler, faster, and more accurate to remotely diagnose and treat patients. To learn more about how we help patients live longer, healthier lives, visit peerbridgehealth.com.
About Mendota Venture Capital
Mendota Venture Capital (MVC) is a venture firm based in Madison, WI. We are industry agnostic and make growth investments in both early and late stage businesses led by exceptional people.
About HealthX Ventures
HealthX Ventures is a digital healthcare-focused venture capital firm that invests in innovative companies making healthcare safer, more efficient and more affordable by delivering easy-to-use, cost-effective and scalable solutions to the market. Based within miles of Epic Systems’ Madison, WI headquarters and led by seasoned, successful entrepreneurs and investors, HealthX provides unique value to its portfolio companies though extensive operational support, deep industry knowledge, and executive-level networking.