Digital health company raises $12.5M to make new hires, ramp up production of heart monitoring devices
Vector Remote Care, an Oregon-based digital health company focused on cardiac care, has raised $12.5 million in Series A funding. Updata Partners led the funding round.
Vector’s digital offerings are designed to capture, manage and evaluate data generated by remote cardiac monitoring devices. This new round of funding is expected to go toward ramping up production and devoting more resources to engineering and patient engagement. The company is also hoping to double the size of its staff.
“We’re on a mission to connect every patient to their doctor through remote monitoring technology to help improve outcomes while driving down the cost of care.” Kevin Hoffman, Vector founder and CEO, said in a prepared statement.
“The COVID-19 pandemic accelerated the use of digital health technology,” added Jon Seeber, general partner at Updata Partners. “While health care providers worked to adapt and create solutions to address the urgent need for remote cardiac monitoring, Vector quickly established itself as a leader in this space with its unique, already proven patient centered approach to solving this problem.”
Michael has more than 19 years of experience as a professional writer and editor. He has written at length about cardiology, radiology, artificial intelligence and other key healthcare topics.