Medtech in Canada is gaining steam.
The Toronto-based Swift Medical has raised $11.6 million in Series A funding. The new round was led by Data Collective with participation from Real Ventures, Relay Ventures, DHVC and BDC.
Swift is a digital wound care management platform that delivered visualization of a wound as well as contactless 3D measuring through it’s smartphone-ready Swift Skin and Wound software. The platform helps clinics and administrative departments streamline their workflows when it comes to managing the progression of caring for a wound, from image capture to claim submission.
Swift replaces traditional methods of monitoring wounds, such as the ruler method or acetate tracings. Their platform can measure data such as wound depth without having to touch the patient and without extra equipment or accessories. Chronic wounds can have devastating effects on seniors and those with diabetes.
“There are more patients worldwide suffering from chronic wounds than from lung cancer, breast cancer, colon cancer and leukemia combined,” said Carlo Perez, co-founder and CEO of Swift Medical. “By augmenting the abilities of clinicians and facility administrators to deliver the best possible wound care management, we’re helping them heal over 10,000 patients a month. And we’re just getting started.”
The new funding will help Swift reach more hospitals and care facilities, as well as growing the wound care digitization platform itself.
“Swift’s product execution is a wonderful example of Data Collective’s Computational Care philosophy of pushing compute intelligence closer to the patient, but in a way that is empathetic to the patient and the caregivers and systems that surround them”, said Scott Barclay, a partner at Data Collective. “We invested because of Swift’s near science-fiction quality machine vision, Carlo’s leadership, and because Swift enables wound care quality that all of us should demand for a loved one.”
So far, Swift has seen adoption by over 1,000 North American medical facilities that collectively manage over 100,000 beds. They partner with PointClickCare, who recently raised $186 million, as well as Healogics, a wound care system based in the U.S.