EnsoData closes $550K funding round
Healthcare data science company focuses on unlocking the potential of health data
Madison, WI – EnsoData, a healthcare data science company led by two University of Wisconsin-Madison graduates, announced Wednesday the close of a $550,000 funding round led by HealthX Ventures, a new Madison based venture capital fund focused on digital health solutions.
EnsoData, founded in 2015, provides machine learning enabled software-as-a-service to create actionable, clinical insights from the ever-growing amount of data being collected by wearables, medical devices, and clinicians. Their first product, EnsoSleep, combines core machine learning technology with thousands of patients of sleep data to automate the scoring of sleep studies. The funding will be used for working capital, and to grow the company’s sales and data science teams.
“This funding will help get our product into clinicians’ hands as quickly as we can, so they can spend more time assisting patients directly, and less time analyzing their data”, said Chris Fernandez, CEO and cofounder of EnsoData.
“Patients and their healthcare providers are collecting more data than ever before and many experts project a shortage of doctors and nurses in the coming decade,” said Mark Bakken, managing partner of HealthX Ventures. Bakken, the founder of Nordic, the largest Epic consulting firm, will join the company’s board of directors as part of the investment. “There is too much data to review and not enough people to review it. By using technology from EnsoData, clinicians will be able to automate what has historically been a very manual and tedious review process to quickly gain insights and provide more personalized, proactive, and preventative care for their patients.”
Researchers estimate that 80 to 90 percent of adults with sleep apnea remain undiagnosed, according to the American Academy of Sleep Medicine. If left untreated, sleep apnea can lead to a number of health problems including high blood pressure, stroke, diabetes, depression, and is estimated to double a patient’s medical expenses. EnsoSleep helps providers extend their existing resources to reach more patients, leading to the diagnosis of more sleep apnea cases which would otherwise go untreated.
EnsoData’s initial focus on automating the diagnosis process for sleep apnea and other sleep disorders was based on research Fernandez and EnsoData cofounder Sam Rusk completed at the University of Wisconsin-Madison, where they hold degrees in biomedical and electrical engineering respectively.
The company recently completed the fellowship program of Y Combinator, which has been ranked one of the top startup incubators in the world, and was a recent alumnus of Gener8tor’s gBETA program.
About EnsoData
EnsoData (www.ensodata.io) provides software-as-a-service that enables the discovery, identification, and actionable reporting of critical to understand patterns and trends in health data. EnsoData’s technology unlocks the vast wealth of clinical expertise lying dormant in archived data; using these data as examples, EnsoData trains machine learning systems to perform complex and time consuming data interpretation previously left to clinicians. Their first product, EnsoSleep, uses machine learning to automate the scoring of sleep studies.
About HealthX Ventures
HealthX Ventures (http://www.healthxventures.com) is a digital healthcare-focused venture capital fund based in Madison, Wisconsin. HealthX Ventures supports early/seed stage, highgrowth companies in all areas of digital health, including companies who are making healthcare safer, more efficient and more affordable. The firm is investing out of its flagship fund, and is led by experienced entrepreneurs, investors, and industry experts who have grown companies and led change across the healthcare system.
For more information about EnsoData, visit www.ensodata.io or follow us @EnsoData.