Imagine not being able to breathe and imagine that loss of breath coming out of nowhere. It’s a frightening position to be in, but one company, Propeller Health wants to help people head off asthma attacks and other respiratory conditions before they get to that point by watching every breath they take.
Today the company announced the close of $21.5 million in Series C funding to continue growing its partnerships, adding more devices and medications to the platform and getting in front of the more than 37 million people with asthma and other respiratory diseases in the U.S.
Propeller would also like to expand globally, according to CEO David Van Sickle.
Propeller launched in 2010 with a sensor and platform to help monitor patients and upload their information to their doctor in an attempt to help them deal with their conditions — and it’s been
growing at a fast clip since launching, developing more than 45 programs with healthcare providers, including Dignity Health and managed care systems covered by government programs like Molina Healthcare.
Those partnerships have proved invaluable for Propeller Health as a lot of healthcare technology platforms running on similar lines require one-to-one conversion, going from doctor to doctor to convince them to join — making it nearly impossible to grow to the point of making any real change in the system.
Several strategic investors threw in for this round, including 3M Ventures, S.R. One (Glaxo Smith Kline’s venture arm), Limited and Hikma Ventures (attached to Hikma pharmaceuticals). Existing investors Safeguard Scientifics and Social Capital also contributed, bringing the total now raised to $45 million.