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Life sciences investor Novo leads $17m Series E in iRhythm Technologies

23 May 2014

Healthcare information services iRhythm Technologies has closed a $17m Series E financing led by global life science investment firm Novo.

Norwest Venture Partners, which led the company’s Series D financing, also participated in the oversubscribed round.

iRhythm’s ZIO Service has been used with almost 250,000 patients at over 800 institutions nationwide, and is covered by public and private insurers, since its launch in 2011. The company said it will use the proceeds to further accelerate market growth for its ZIO Service, expand technology development and continue to establish clinical evidence supporting its flagship solution.

iRhythm also announced that Tiba Aynechi, PhD principal at Novo Ventures, has joined the company’s board of directors.

“With its disruptive yet proven technology, iRhythm has established itself as the global leader in long-term continuous cardiac monitoring, with the potential to improve diagnosis for the millions of patients each year who present with suspected arrhythmia,” said Dr. Aynechi. “We believe the company, with its vast technology capabilities, is poised to create the world’s largest and highest quality cardiac rhythm data sets to further revolutionize patient care.”

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