ASHEVILLE – An Asheville-based provider of healthcare decision support applications, ilumivu, announced today that the company has received funding from Pisgah Fund.
Last October, the company, which was founded in 2009, took on an investment from Health Catalyst Capital, L.P.
According to a statement, the company developed, launched, and maintains a mobile application, Cardiogram, which provides “continuous cardiovascular monitoring to pre-diagnose conditions such as diabetes, hypertension, atrial fibrillation and sleep apnea.”
Company CEO Sandeep Goel noted in the statement that the firm’s 13 years of experience using early-signal data gathered from wearable technology devices is now being applied in the company’s current solutions suite.
“Our solutions provide better outcomes for members while simultaneously reducing the total cost of care managing these conditions through early detection,” said Goel in the statement.
The firm’s website notes partnerships with more than 70 health systems and universities, including Harvard Medical School, Johns Hopkins Medicine, the University of Georgia, and Boston Children’s Hospital, among others.
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Pisgah Fund, a $50 million venture fund that invests in healthcare companies and related firms based in Western North Carolina, is managed by Hatteras Venture Partners.
“Smartwatches have been a source of valuable health insights in the consumer market, but it has been difficult to translate those insights into improved health outcomes in the broader healthcare system,” said Lauren Pierce Flickinger, the fund manager for the Pisgah Fund. “We are excited to partner with the ilumivu team as they provide health insurers and Medicare Advantage plans with a solution that bridges this gap.”
The Pisgah Fund invested $2 million into Contigo Health earlier this year, and a part of the deal was a commitment from the company to relocate its headquarters to the western region of North Carolina.
The fund website notes that the investments are meant to create a nexus for “connecting entrepreneurs, healthcare innovators, community leaders, educators, and business leaders to catalyze economic growth and development across the region.”
