AlertWatch has set some high hopes for its first round of venture capital. The Ann Arbor-based start-up has raised $1 million in seed capital and plans to formally close on its Series A round in 2014.
The 1-year-old star-up is a University of Michigan spinout and calls the
Venture Accelerator at the university's
North Campus Research Complex home. Its first year has focused on pushing forward the development of its patient-monitoring technology and turning its team of three people's work into full-time jobs.
"A lot of it was just the blocking and tackling of getting a company off the ground," says Justin Adams, CEO of
AlertWatch.
AlertWatch's technology is a secondary patient monitor for hospital operating rooms. It aggregates data from multiple networks and hospital IT systems and displays them at a central location. It is currently being used in three pilot projects. Adams hopes to have its intensive care unit product ready for commercialization and to be piloting an emergency room product by early 2014.
"We'd like to be in five hospitals and have a term sheet for a Series A round," Adams says.
Source: Justin Adams, CEO of AlertWatch
Writer: Jon Zemke
Read more about Metro Detroit's growing entrepreneurial ecosystem at SEMichiganStartup.com.
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