Health sensors have become increasingly popular in recent years. There are several types and brands of sensors on the market, but most adhere to the skin and provide data on vital signs or other medical conditions. They have also been shown to help doctors make better treatment decisions.
Sibel Health, a Chicago company that has developed its own health sensor platform, recently raised $33 million in a Series B funding round that was led by Steele Foundation for Hope, a charitable organization that funds projects aimed at improving quality of life. With the latest round, total funding for the Chicago-area company now stands at $50 million.
Founded in 2018, Sibel Health spun out of the John Rogers Research Group as an independent company and developed the ANNE One platform. The platform works with a sensor that can measure body temperature, heart rate and respiratory rate, among other vitals. According to the company, the platform has applications for maternal health, diabetes, health failure and other medical conditions. The sensor and platform have been cleared by the FDA.
“What makes us unique as a digital health company is that our product is vertically integrated—we believe that everything matters, from the adhesive we place on the skin to how the sensor fits on the body to the final alert a clinician sees for medical decision-making,” Sibel Health co-founder and CEO Steve Xu said in a statement. “We’re proud that our technology can be potentially deployed in both the neonatal intensive care unit and in the home for remote patient monitoring.”
According to the company, recent partnerships with Fortune 500 companies have resulted in significant revenue increases. With the company’s recent growth and the new funding, Sibel Health plans to further scale its platform and has hired new executives to see it out. Jon Otterstatter, the former CEO of Preventice, will join as Sibel’s board chairman, and Matthew Banet, the founder of toSense and Sotera, will join as president.
