US-based medical technology company Avail Medsystems has raised $100m in its Series B funding led by D1 Capital Partners with participation from 8VC and existing investors.
Avail develops telemedicine for the procedure room. The company previously raised $25m in Series A and Series A-1 round from investors, including Lux Capital, Coatue, Sonder Capital, Playground Global, Baidu Ventures, and Refractor Capital.
The company plans to use the proceeds from the latest financing round to meet the demand for procedural telemedicine technology for the operating room.
Procedural Telemedicine system, built specifically for the operating room, enables outside experts to remotely join the surgical team, eliminating the need to have more people in the operating room.
The Avail System includes a portable console used by surgeons in the operating room, paired with an app for experts that enables them to remotely guide the procedure.
It is the first and only technology developed to facilitate remote collaboration between physicians and medical experts during procedures, as well as for clinical education and training.
Avail Medsystems CEO Daniel Hawkins said: “We are thrilled to welcome D1 Capital as our new lead investor as we continue to bring the Avail System to new clinical specialties and further penetrate those where we already have a presence, including a full range of cardiovascular interventions, neurology, electrophysiology, orthopedics, and general surgery.
“With this additional funding we will further improve access to medical expertise, save time and money for healthcare facilities, medical device companies, and ultimately patients, and enable more rapid adoption of new medical technologies.”
The Avail System is supported by a secure online platform called the Avail Portal, which is used by the company’s network of physicians and medical industry experts.
The portal enables users to manage schedules, update availability in real time and easily collaborate.
D1 Capital analyst James Rogers said: “We are very excited to be a part of Avail’s mission to provide universal access to clinical and procedural expertise. Now more than ever, the medical community needs innovative technological solutions to pressing systemic problems.
“Avail Medsystems is disrupting the industry for the better. We look forward to helping Avail bring Procedural Telemedicine to every hospital and surgery centre in the US and abroad.”