AssistIQ, which offers hospitals computer vision technology for supply chain management, has secured $11.5 million in Series A funding.
The round was led by Battery Ventures, with participation from existing investor Tamarind Hill.
Brandon Gleklen, principal at Battery Ventures, will join the company’s board of directors.
WHAT IT DOES
The Montreal-based company offers hospitals AIQ Capture, its flagship product, which allows for supply tracking in OR and procedural rooms. It tracks real-time supply and implant usage, which the company says allows for less waste.
“Our mission is to build trust in data and empower health systems with AI-driven insights that improve margins, drive sustainability and ultimately enhance patient care,” AssistIQ CEO Lisa Israelovitch said in a statement.
“We’re thrilled by the market’s response to our product and deeply grateful to our health system partners, whose collaboration helps us innovate and deliver solutions that create value across clinical and operational workflows. We’re also excited to welcome Brandon and the Battery team to the AssistIQ journey as we accelerate our growth and expand our impact in the market.”
MARKET SNAPSHOT
In 2023, AssistIQ raised $2.5 million CAD ($1.81 million) in early-stage funding.
AssistIQ’s platform has been integrated into Epic at Owensboro Health Regional Hospital in Kentucky, and the company says it has several more Epic integrations planned in the coming months.
New York state’s Northwell Health, which is also the company’s design partner, also utilizes AssistIQ’s technology.
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