12 Nov 2012

EarlySense Closes $15 Million E Financing Round Led by Pitango Venture Capital

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Waltham, MA, November 12, 2012 — EarlySense Ltd., the market leader in proactive patient care solutions, announced today that it has completed a $15 million E financing round led by Pitango Venture Capital. Existing investors that participated include JK&B, ProSeed VC Fund, Docor International Management and Bridge Investment Fund. EarlySense plans to use the financing to accelerate sales, further develop its contact-free, patient monitoring solutions, and to expand clinical research.

 

Mr. Ittai Harel, general partner at Pitango Venture Capital and co-chairperson of EarlySense’s Board of Directors said, “We believe that the EarlySense system has the potential to revolutionize patient monitoring within hospitals, long-term care facilities and in the home. In the past 2 years, the company has made significant progress in establishing the clinical value of its system, as well as in sales and marketing. The financing today will be used to support global commercialization efforts by the company and is indicative of the board’s confidence in the company’s management team and vision.”

 

Mr. Yossi Vinitski, a managing partner at the Etgar Challenge Fund and co-chairman of EarlySense’s Board of Directors said, “EarlySense is bringing to market a world-class technology that helps medical teams save lives and cut costs. Nearly every day we see proof of the positive impact that the EarlySense system is making in hospitals and rehabilitation centers across the U.S. and Europe. Throughout the history of the company, it has always been clear that EarlySense is a company to back. We continue to do so with great certainty.”

EarlySense CEO Mr. Avner Halperin said, “We sincerely appreciate this vote of confidence by our investors. The financing announced today is an important step as it supports the growth of the company by accelerating our initiative to make millions of hospital and long term care beds safer places for patients while concurrently empowering clinicians to provide more effective and efficient care.”