Inhaler monitoring company Propeller Health (formerly Asthmapolis) has announced that it raised $14.5 million in a Series B financing round led by Safeguard Scientifics. Safeguard Managing Director Gary J. Kurtzman will join Propeller Health’s board of directors. Propeller also announced that it has hired Chris Hogg, formerly CEO of mobile health company 100Plus, as Chief Operating Officer.
According to the company, it plans to use the funds “to accelerate product development, strategic alliances, client services, sales and marketing” for its “digital therapeutic,” a combination of inhaler-mounted sensors and mobile apps.
The FDA approved Propeller’s latest generation inhaler tracking system in May 2014, and the company says that it has also recently released a version of the app for COPD.
Propeller Health Co-Founder and CEO David Van Sickle commented, “Propeller delivers a new approach to chronic respiratory disease, long known for burdensome self management and persistently high rates of preventable healthcare utilization. In the last year, individuals, physicians and healthcare organizations have increasingly recognized the therapeutic potential of digital tools for improving adherence and outcomes. 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.”
Read the Propeller press release.
