Ambio Health recently announced it has raised $525,000 to close its third angel round of funding to develop a platform for connecting home medical monitors, reports MobiHealthNews.
The Stamford, Conn.-based company gained a new investor for this round of funding, CEO Kevin Jones told MobiHealthNews, but most of the money came from existing investors. The company has raised $2 million to date since it was founded in 2011.
Ambio’s Remote Health Monitoring system adds wireless capabilities to standard home health monitors and also automates data collection. Devices connected to the system can automatically log their readings, then upload them to a secure, HIPAA-compliant web platform hosted by Ambio, where they can be accessed by family members, caregivers, and medical professionals.
The technology received FDA clearance in July, and Jones told MobiHealthNews at the time that the company’s system would sell for under $20.
Both the newly and previously raised funding will be used for product development, sales and marketing, and general operations, according to the article. While the platform is currently geared toward chronic disease patients, MobiHealthNews reports that upcoming products, including door and window sensors, will be aimed at supporting aging in place.
Written by Alyssa Gerace