Clearwater Clinical Raises $2 Million Round Led by BDC Capital’s Healthcare Fund
Clearwater Clinical has raised $2 million in venture capital.
The investment was led by the BDC Capital Healthcare Fund with participation from Naavon and Fundfire. The round will be used to accelerate sales and marketing of its mobile health solutions, according to the Ottawa-based company, which develops mobile medical devices transforming image capture and sharing for the endoscopy and audiology markets.
“We believe Clearwater represents a great example of the technological transformation that is underway in the delivery of healthcar,” said Jean-Francois Pariseau, Partner, BDC Capital Healthcare Fund. “The use of mobile and cloud technologies are dramatically reducing the cost of care and access times while improving diagnostic capabilities.”
Pariseau is now the newest member of Clearwater’s Board of Directors.
The company has commercialized two products; the ClearSCOPE Endoscope Adaptor and the ShoeBOX iPad Audiometer. ClearSCOPE connects a mobile device to any standard endoscope, utilizing the HD camera on a smartphone to record and share images captured during endoscopy procedures. ShoeBOX is an iPad based audiometry solution designed to enable rapid, remote diagnosis of hearing conditions.
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To further commercialization efforts, Michael Weider has joined Clearwater as chief executive officer. Weider is the founder of Watchfire (acquired by IBM in 2007) and Blaze (acquired by Akamai in 2012).
“Clearwater has done an exceptional job of creating very innovative products and validating the need for these solutions with thousands of physicians around the world,” said Michael Weider, CEO of Clearwater Clinical.
The BDC Capital Healthcare Fund turns healthcare ideas into successful ventures by partnering with Canadian entrepreneurs to commercialize the most innovative solutions and approaches to improving health outcomes. The fund got a $135 million injection a year ago.