Propeller Health has closed on a $21.5 million Series C funding round to support expansion of its digital inhaler monitoring platform, the company said. Investors included 3M Ventures, S.R. One, Limited and Hikma Ventures, Safeguard Scientifics, and Social Capital.
According to Propeller, the company has experienced rapid growth over the past year “driven by rapid adoption of its platform among pharmaceutical manufacturers and the country’s largest payers and healthcare providers,” with more than 45 health care programs signed up.
The company has partnered with a number of pharmaceutical companies and device manufacturers, including Boehringer Ingelheim, Vectura, and Aptar Pharma to develop connected inhalers and to allow asthma and COPD patients to use the system, which provides feedback to both patients and healthcare providers.
Propeller CEO David Van Sickle commented, “We aim to make today’s treatments more accessible, personal, powerful and convenient for each person who uses them, and enable physicians to measure, analyze and act to help their patients. Our goal is to connect and guide these patient-physician teams to find the right path of therapy for each individual.”
S.R. One Partner Rajeev Dadoo said, “Propeller is bringing a smarter, digitally-guided approach to the management of respiratory disease, an area of significant economic burden to healthcare systems. he company uniquely combines unprecedented real world evidence about how patients take their medications, with a deep understanding of what people want from their respiratory treatment. Propeller routinely demonstrates consistent and measurable results in patient satisfaction, clinical improvement and cost savings across diverse program, payer and patient types.”
Read the Propeller Health press release.
