The round was led by Ann Arbor-based Arboretum Ventures and St. Louis-based Cultivation Capital. MINTS, the direct investing arm of the University of Michigan’s endowment, and previous investors Invest Michigan and 35 private angel investors joined the round.
The funding will be used to secure FDA clearance of Fifth Eye’s first product, support clinical studies with multiple health systems and enable commercial launch of the company’s first product, the Analytic for Hemodynamic Instability.
Hemodynamic instability is when blood flow to vital organs degrades to levels that are insufficient to support vital organ functions. Fifth Eye’s early warning system aims to continuously detect the emergence of hemodynamic instability and forecast patient trajectory, giving doctors and nurses a heads up about impending trouble hours in advance of other methods.
Dr. Tom Shehab, managing partner of Arboretum Ventures and Bill Schmidt, managing partner of Cultivation Capital will join the company’s board.