Artificial intelligence-powered diagnostics company EnsoData has raised $9 million Series A financing led by Venture Investors and Zetta Venture Partners. EnsoData’s technology transforms billions of waveform data points collected from sensors in medical devices and wearables into reports, so clinicians can make faster, more accurate diagnoses.
By analyzing the waveforms found in sleep studies, EnsoData is able to accurately detect and diagnose sleep apnea and its related conditions.
“Sleep apnea is a condition that plagues nearly one billion people worldwide, and we’re uniquely positioned to address this massive problem,” says Chris Fernandez, CEO of EnsoData, in a release. “We know that not everyone has access to quality and affordable treatment, and have the conviction that our technology can help bridge that gap. Automating waveform data analysis saves clinicians significant time, and labs and healthcare systems significant money, so they can focus on what really matters—the patients and what’s literally keeping them up at night.”
“We believe that EnsoData will be a game-changer for the way we diagnose and treat patients,” says Mark Gorenberg, managing director at Zetta Venture Partners. “Sleep is just the beginning. Waveform AI may be the lowest cost, most scalable, and most widely available tool for diagnosing patients. It will seriously advance our understanding of health and the human body.”
By analyzing billions of waveform data points, EnsoData’s EnsoSleep quickly finds patterns and events for clinical diagnosis, replacing a workflow that requires clinicians to manually mark reams of complex data by hand.
In addition to Zetta Venture Partners and Venture Investors, the round was filled out by a syndicate of institutional investors from across the country, including SleepScore Ventures, Dreamit Ventures, and Necessary Ventures. The Series A participants join Series Seed investors Colle Capital, HealthX Ventures, Sternhill Associates, as well as board of directors members Justin Mortara, PhD, and Fred Robertson, MD.
The capital will be used to launch new AI products in sleep and neurology, grow the company’s team, expand diagnostic access and partnerships with leading sleep clinics, enterprise health systems, academic medical centers, home sleep testing providers, and integrated diagnostic testing facilities, and extend support for clinical trials that enable patient access to a new generation of effective, personalized medications and therapeutic devices.
“We’ve known Chris and the founders since their collegiate years and have always believed in them and the potential for AI to analyze medical waveform data,” says Scott Button, managing director of Venture Investors. “EnsoData has all the characteristics of a disruptive, breakthrough technology. It increases access, improves outcomes and enhances patient and physician satisfaction while at the same time reducing cost. We believe its Waveform AI will help to create a new gold standard of care, and we’re thrilled to be a part of this incredible journey to uncovering diagnostics hidden in waveforms—for those suffering from sleep disorders and beyond.”
Photo: EnsoData’s founders