Propeller Health has raised $14.5 million in Series B financing, led by Safeguard Scientifics with participation from Series A investor The Social+Capital Partnership. The company, which provides FDA-cleared digital health solution for chronic respiratory disease, will use the funding to accelerate product development, strategic alliances, client services, sales and marketing.
“We’re fortunate to have the backing of partners with expertise in scaling enterprise and consumer digital health solutions. Together we aim to change the day-to-day life of people with chronic respiratory disease and the physicians who care for them,” said David Van Sickle, CEO and co-founder of Propeller Health.
Propeller’s solution helps patients and their physicians better understand and control chronic obstructive pulmonary disease (COPD), asthma and other respiratory disease, reducing preventable emergency room visits, hospitalizations and unnecessary suffering. By combining sensors, mobile apps, analytics and personalized feedback – the system encourages adherence to maintenance therapy and remotely monitors use of rescue medications to predict exacerbations and facilitate early intervention by care teams.
Last year, Propeller Health doubled its number of commercial programs and added its first contract with an ACO.Last year, Propeller Health doubled its number of commercial programs and added its first contract with an accountable care organization. Additionally, the company recently received FDA clearance for a new inhaler sensor and is concluding a 500-person randomized control trial at Dignity Health.
New money aside, the company has also announced that Chris Hogg joined the company as COO. Mr. Hogg will be charged with growing the company’s San Francisco office, with an emphasis on product and data teams. Prior to joining Propeller Health, Mr. Hogg was CEO and co-founder of 100Plus, a mobile health company using data, design and location-based technology to engage users with their health.