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Its cloud-based solutions include patient monitoring, telehealth and more.
AlayaCare, a startup that develops cloud-based software to support providers in the home and community, has announced its largest funding round yet: a $13.8 million injection from new and existing investors.
The money will aid AlayaCare’s expansion, which is slated to focus on the U.S. market. The venture capital will also support development of its tech platform, which includes a suite of solutions that target scheduling, remote patient monitoring, clinical documentation and portals for patients, caregivers and family members, among other things.
“Continuing to invest in [artificial intelligence] AI, machine-learning capabilities and optimization science is a priority, as our increasingly robust platform means clients can lower their operating costs while improving their ability to provide care, detect adverse effects and help reduce hospital readmissions,” AlayaCare CEO Adrian Schauer said in a statement.
Founded in Canada in 2014, AlayaCare has since announced $9.2 million over several funding rounds, according to the startup tracker Crunchbase. Its Series B round announced today surpasses all prior efforts combined.
Inovia Capital led the round, earning its principal, Magaly Charbonneau, a seat on AlayaCare’s board of directors. Chrysalis and existing investors such as Fonds Innovexport also contributed funding, according to the announcement.
One of many companies striving to deliver clinical and administrative upgrades via tech, AlayaCare claims it has “experienced double-digit monthly growth” and grew its staff to more than 100 people since it went online.
Its products are geared toward home healthcare groups looking for not just cost savings but better patient outcomes, typically for aging populations. Real-time communication features, for instance, deliver updates to clinicians, while machine-learning algorithms bolster the company’s clinical decision support tools.
“We recognized early on that AlayaCare had all the right ingredients to become a leader in the home and community care sector,” Serge Lavergne, vice president at Fonds Innovexport, said in a statement. “The team has exceeded all of our expectations and thus we are delighted to be further extending our support to this outstanding company.”
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