Access to sleep is a global problem, with around 80% of people with unmatched sleep apnea. Several startups use AI to try to solve this problem – and on Wednesday, one of these companies announced that it had raised $ 20 million to advance its suite of sleep technologies.
The financing tour of Madison’s series B in Wisconsin was led by Questa Capital. The round takes full financing of the company to date to “a little more” of $ 50 million, according to CEO Justin Mortara.
Ensodata, founded in 2015, uses AI to analyze sleep study data from polysomnography studies or home sleep apnea tests. The platform studies the sleep stages of patients and respiratory events to quickly detect events such as apnea, hypopneas and excitations.
This technology, which is integrated into the existing workflows of suppliers, helps clinicians diagnose sleep disorders faster and more coherent, said Mortara.
“Ensodata technology has saved clinicians time and allows private sleep laboratories and health systems to provide patients with diagnostics, treatment and fast and precise results-while generating more income by reducing time that clinicians spend analyzing data by almost 70%,” he said.
Traditionally, sleep technicians manually examine sleep studies, which can take a few hours per study and can vary depending on the marker. The ENSODATA AI platform automates this process and generates sleep reports in a few minutes, allowing clinicians to spend less time to score and more time to interpret the results and take care of patients.
Operating on a SaaS commercial model, Ensodata invoices by patient, rather than by test, like most manufacturers of sleep medicine devices, said Mortara.
He said that his business has a variety of competitors in the sleep apnea diagnostic space – which are all mainly hardware developers rather than software solutions, including companies like Zoll and Sleepimage.
ENSODATA differentiates itself by selling software as medical devices (SAMDS), he said.
“FDA’s erased solutions are compatible with all the main devices, which means that interoperability is a clear differentiating,” said Mortara.
The SaaS model of Ensodata is also more scalable, because the company invoices less than $ 25 per patient, he added.
In all its solutions, Ensodata serves more than 125 customers and supports more than 75,000 patients each month. Its target customers are providers of the sleep medicine space, in particular sleep centers within health systems, private sleep clinics, sleep management organizations and independent diagnostic test installations, Mortara said.
The company has completed case studies with health systems, including Commonspirit Health, Northwell Health, Rush University Health System and Sanford Health.
Photo: Franckreporter, Getty Images
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