Tissue Analytics, a Baltimore, MD-based digital health startup which provides simple, easy-to-use solutions to increase efficiency and accuracy for wound and skin tracking, has announced a $5M Series A round. The round was led by DigiTx Partners with participation from Tencent, Dreamit, Molnlycke Health Care, Intermountain Healthcare, and Penn Medicine.
The company plans to use the latest round of funding to support the expansion of the sales team in their recently opened Kansas City office and hiring data analytics personnel in the Baltimore office.
Eight and a half million Americans live with non-healing wounds. Caring for these conditions relies heavily on guesswork and approximations, perpetuating expensive and ineffective treatments. To solve this, Tissue Analytics brings wound care into the 21st century by turning the smartphone into a sophisticated imaging platform.
The proprietary EHR-integrated documentation platform standardizes wound documentation, allowing clinicians to make more informed decisions and heal patients faster. To date, the platform is utilized by over 120 facilities across the country, including Johns Hopkins Hospital, Penn Medicine, and Intermountain Healthcare.
“We look forward to supporting Tissue Analytics’ vision of providing scalable imaging analytics for healthcare providers and its endeavor to fundamentally change how wound and skin care is practiced,” said David Kim, MD, CEO of DigiTx Partners in a statement. “As a digital health fund focused on meaningful uses of data in healthcare, we are particularly excited about Tissue Analytics’ novel application of AI to significantly reduce clinical documentation time.”