Amidst challenges in healthcare and the global pandemic, intraoperative workflow startup drives six times year-over-year revenue
CHICAGO, April 9, 2021 – ExplORer Surgical, the only comprehensive intraoperative case support and workflow platform, today announces the closing of $2.5M in new investment, led by Aphelion Capital, with participation from all existing major investors as well as new investors, including Sofia Fund, a Minneapolis-based fund focusing on women-led technology companies. To date, ExplORer has raised a total of more than $11M in funding.
ExplORer continues to add new vital features to its platform, including remote case proctoring, support and case observation, allowing the entire surgical team to receive step-by-step, role-specific digital procedure workflows and tailored instructions to increase preparedness and ensure better patient outcomes. The technology also supports telestration to streamline and amplify guidance virtually without disruption or distraction to workflow and efficiency. ExplORer offers robust features for zooming in and out on objects, procedural areas, and other elements that require better visibility and screen sharing.
“Explorer Surgical is doing exciting work to enhance operating room workflow. The company is led by a talented female founder and diverse management team, which is our primary investment criteria,” said Joy Lindsay, partner at Sofia Fund. “We are confident that this technology platform will improve processes and outcomes with robust data collection, creating excellent potential for return.”
“ExplORer is experiencing record growth, and we fully support the team on their mission to democratize access to procedural guidance for physicians and medical device companies,” said Ned Scheetz, Managing Partner at Aphelion Capital. “This capital will help the company expand hiring to continue its growth and extend its industry-leading technology platform.”
ExplORer recently announced that it onboarded more than 10 new medical device customers, including some of the largest global MedTech companies as well as innovative startup companies including Prytime, in less than three months. ExplORer’s technology is providing medical device companies around the world with a reliable way to communicate and proctor safe and efficient procedures with their physician and hospital customers, remotely.
“After experiencing six times year-over-year revenue growth in 2020 vs. 2019 and a record commercial quarter in Q1 2021, we decided to raise a small tranche of capital now to support the company’s growth,” said Jennifer Fried, CEO and co-founder of ExplORer Surgical. “Our initial target oversubscribed immediately and we decided to increase the total allocation to include new investors, including Sofia Fund. We are committed to this momentum and plan to use the proceeds to grow the technology, marketing, and customer success teams, along with closing an additional funding round later this year.”
To learn more about ExplORer Surgical’s solutions, visit www.explorersurgical.com.
About ExplORer Surgical
ExplORer Surgical, the leading platform for intraoperative surgical and interventional procedure workflow management and analytics, improves communication and performance in the OR. ExplORer helps medical device companies and surgical teams reduce variability and bring best practices to life by providing a customized digital playbook software for use during procedures. ExplORer can be used in-person or remotely through real-time audio and video guidance.
ExplORer Surgical offers the only comprehensive case support platform with video, digital procedural playbooks and real-time intraoperative data capabilities. Customized to any specialty, case or role, the platform scales to support every case of the HCP’s journey from training to procedures, remote or in-person. It is the only platform that puts best practices alongside the rep or proctor, offering more than collaboration and generating granular, structured data that informs new insights into proficiency and efficiency. Founded in research at the University of Chicago, more than 1,000 unique procedures have been built on its platform. For more information, visit www.explorersurgical.com.