Cardiac monitor maker iRhythm looks to insiders for $6.5M
iRhythm Technologies, maker of a recently-launched cardiac monitoring device, has raised an additional $6.5 million in a first round of funding from existing investors, bringing the two-year-old round’s total to $19 million. Based in San Francisco, the company will use the money to more widely market its product after getting the Food and Drug Administration’s stamp of approval earlier this year.
It should be enough to push iRhythm to break even, the company says. All of its past investors participated in the extension, including Mohr Davidow Ventures, Synergy Life Science Partners, UNC Kenan-Flagler Private Equity Fund and Stanford University. The device, called the Zio, was developed at Stanford.
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Companies: inv:Mohr Davidow Ventures, IRhythm Technologies, Synergy Life Science Partners, UNC Kenan Flagler Private Equity Fund
About the Author, Camille Ricketts
Camille is the lead writer for GreenBeat. She came to VentureBeat from Google where she worked on its traditional platforms team, particularly in TV. Before that, she was a reporter for the Wall Street Journal in New York and London. Follow her on Twitter at @camillericketts, and follow VentureBeat on Twitter at @venturebeat.
