Podimetrics, a Somerville, Massachusetts-based care management company builds technology to detect and prevent diabetic foot ulcers, has secured USD 13.4 million in Series B funding round. As per the reports, the company plans to utilize the fresh capital to accelerate its business within the Veteran Affairs (VA) health care system and commercial players across the U.S. The funding round was led by Rock Health, Norwich Ventures, and Scientific Health Development.
Diabetic foot ulcers are a major complication of diabetes and they’re shockingly common in the U.S. More than a million occur annually among the 30.3 million Americans with diabetes, and they recur in as many as 40 percents of patients within a year of diagnosis, as per the report. However, Podimetrics’ FDA-cleared solution remotely detects early signs, often 5-week before, and present clinical and triages concerns in order to put off devastating conditions. Established in the year 2011 by a physician and engineers from MIT and Harvard, Podimetrics offers a cellular-connected SmartMat, where patients have to simply place their feet on that for just 20 seconds a day. Afterward, the data from the device seamlessly and automatically sent to the Podimetrics care team, which triages any concerning findings to aid patients to receive proper, precautionary treatments under the direction of their clinician.
Podimetrics Co-founder and CEO Dr. Jon Bloom said that “Diabetic foot ulcers are one of the most devastating and costliest diabetes-related complications.” According to him, “At Podimetrics, we are working diligently to prevent DFUs, remotely catching early signs often five weeks before they would present clinically. As the son of a veteran, it is gratifying to know this funding will accelerate our efforts to bring this solution to more patients, especially in the VA system.”